Well I lost a few fingers catching a falling knife today. Only solace is that my share count increased 
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Wiki Selling TSLA Options - Be the House
- Thread starter adiggs
- Start date
Yeah, after my Rookie move of not confirming the stop loss on my stock purchase, I am now going to potentially double my losses by waiting for the bounce tomorrow.... I hope TSLA respects the lines!
Folks, no politics here please, keep that crap for the main thread...
Can we stop this pls? This is not the time nor the place.
I'm making popcorn and will be in bed in 15 minutes. Resume then?
I see this board is already self-moderating on politics, which is good because then I don’t have to intervene.
Mod hat off: today at 257 STO 5 x p235 and 10 x c285 for 1/12, both for a little over $2.
Mod hat off: today at 257 STO 5 x p235 and 10 x c285 for 1/12, both for a little over $2.
While not Jan 1, I think Jan 2.2024 WILL be a Green Day - barring some random exogenous event that could certainly occur.
For TSLA, with P&D most likely coming out on Monday, 1/1/24, it’s a coin toss.. regardless, any move downward would be muted, any move upward could be enhanced.
I will say, today, I took off a lot of -c sold during the last fed week and week before Xmas.. positions like ADBE, MSFT, NVDA, MEGA, AAPL, AMD, INTC, MAR, COIN, JPM, AXP, for an average ~75% gain. While I think they could still go to zero before 2/23/24 (when most strikes were written against) I think we could have one more B.O.T. to write them all again prior to that.. it would most likely be NEXT week though.
EDITED to add, that if P&D is in line, or strong, it will come out 1/2/24 at about 04:00 PST but if it’s poor, or the estimates for 2024 are weaker than 30% growth then it will come out on 1/1/24 sometime around 12:00.
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When an index regains its ATH, after a long duration period (this one is essentially 2 years) many stocks are at ATH, and there is a LOT OF SUPPLY up here to soak up any interested net new buyers. Doesn’t mean it can’t go up, but it won’t RACE up IMHO. It‘s time to be scalping (sorry, can’t think of another term), selling calls, possibly buying downside hedges.
My time/inflation adjusted level for the S&P is 4980, and we aren’t there yet. Truly, my current adjusted S&P target for Jan 2024 is 5097, and we aren’t there yet. This won’t/can’t be considered a “new bull market” until we’re well above 5100 IMO..
But, my EOY 2024 target IS over 5200, so take that for what It’s worth.
Thanks for your message, I really appreciate it. This month i made some good money approximately $35,000. following your posts help me to learn alot. at the moment I am trying to learn Spreads both credit and debit but my aim is to learn the irn condor. That is my goal for the year 2024.
thenewguy1979
"The" Dog
Yep, been selling call for 2 weeks now with Lulu and Roku. Did ICs for both this week and they barely budge.
Notice SPY and QQQ are doing the same this week.
We at extreme greed per the greedy index (forgot the exact name). Unless their some major news IMO it may be safer to sell call then Put now. As market is waiting for earning after the Rally.
I do ICs since Margin are lower but going to rethink that now as the PUTs legs are getting too close for comfort. Either FOTM or no Puts legs at all, just Call side.
Tesla is it own beast. Few stocks can match it volatility.
Maybe this dog just trade spandex for now
Sold -C260s x200 this morning, then sold a couple of thousand shares, then sold some -P255s. Didn't expect the drop to be quite as immediate as it turned out to be, so just before close I bought back the -C260s, for a +$1.50 - covers most of my income for the week in today's work. Will likely repurchase the shares tomorrow as well, and kinda hoping the P255s get assigned as well.
They didn't give any 2023 estimates in the Q4-2022 P&D, so I think it highly unlikely that they provide any 2024 guidance before the ER.
thenewguy1979
"The" Dog
That how the Market lured people in.
Make some money — euphoria kick in — goes gung ho — then hit the wall. Been there done that.
Take it slow and be careful. Can be some expensive lessons. Got tons of good people here that can provide valuable feedbacks with different strategy to learn.
Want to be super safe and trade high Margin for 90%+ win - Yoona
Want to follow TA and Ride the up and down - Jim and DI003
Want to go buck wild and have plenty of sleepless night with high reward but high risk - Max Plaid
JK.. he a master at what he does
Many more to list……me just a silly dog still learning the ropes
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