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Wiki Selling TSLA Options - Be the House
- Thread starter adiggs
- Start date
No need to feel disappointed, though. It's a dead cat until it's not. Taking small bets and small wins on the way down is how we can stay sane instead of losing our patience and making the wrong bets at the bottom.So this is what's termed a "bounce" these days
Or were you referring to the macro...?
I'll save it for Yom Kippur
While TSLA chopped I scalped $2,690 today, making it $8,992 for the week so far, and $34,931.99 since the start of 2024, not complaining. I'll never look down on small, consistent gains again. They sure add up!
I closed the long calls to take some delta off the table for the reasons you mentioned.
I'm also going into tomorrow's CPI basically flat on short calls and long on -P290 9/20/24 and -P300 1/17/25 + commons, in case this was the bottom or near here. If we break $228 I'll add more short calls. Until then just playing Scalping Arcade.
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I'm a bit more passive.I'll save it for Yom Kippur
While TSLA chopped I scalped $2,690 today, making it $8,992 for the week so far, and $34,931.99 since the start of 2024, not complaining. I'll never look down on small, consistent gains again. They sure add up!
View attachment 1007745
I must say closing below the 50-day and near the 200-day and near lows of the day is not a good look, but maybe that's what they want us to see before they punish the bears tomorrow. One can hope!
I've been trying to track the handful of small to mid cap growth stocks to see if there was a correlation between how macro stocks are being treated heading into this CPI print because I think Wall St is setting up a reversal where growth stocks will rally hard off of the number if it comes in cold. And there's some correlation there between those stocks and TSLA but TSLA has been even weaker than those stocks.
Besides, we all know that if growth stocks go into rally mode, TSLA will then be treated like a mature macro stock and not rally anyways lol
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Not necessarily tomorrow or even this week, but that's the right attitude.
Anticipate the pain or feel the pain. That's a choice.
OK, I have a confession - those Sep 2024 -c270's I've been trading this week are naked, or at least they were until I bought back the 200x 1/26 -c260's, then they were covered
But, but, but, having then written 100x 1/26 -c240's, yes everything is still covered, but only 40x contract free to roll-assist in the case of a cold CPI and some upward movement...
Was going to close the Sep -c270's if we got a decent dump into close, but in the end it wasn't compelling enough, so I shifted to plan B and BTO 100x June 2024 +c300 @$10 -> these now give me 140x spare contracts to write rolls and if TSLA doesn't pop tomorrow I'm ready to write more short positions as I feel fit and trade in/out of the Sep -c270's as well, hell I can add more at that strike as it seems be a good day-trade
But, but, but, having then written 100x 1/26 -c240's, yes everything is still covered, but only 40x contract free to roll-assist in the case of a cold CPI and some upward movement...
Was going to close the Sep -c270's if we got a decent dump into close, but in the end it wasn't compelling enough, so I shifted to plan B and BTO 100x June 2024 +c300 @$10 -> these now give me 140x spare contracts to write rolls and if TSLA doesn't pop tomorrow I'm ready to write more short positions as I feel fit and trade in/out of the Sep -c270's as well, hell I can add more at that strike as it seems be a good day-trade
SpeedyEddy
Active Member
No trades today, because of beautiful weather here and my grown-out of-hand -hobby (flying drones): First Time natural ice-skating in my town. (and filling the socials, trying to get news programs to buy footage, no luck.) Nice thing to do though ...
and tomorrow.... CPI fireworks could bring some money.
and tomorrow.... CPI fireworks could bring some money.
fun fact: it's been 39 days since we closed above Pivot Point S1 231.68, potential support for CPI tom?
there's possible support at PPS1, 200SMA, lower BB, PPS2, PPS3
again, TSLA is the worst among M7
there's possible support at PPS1, 200SMA, lower BB, PPS2, PPS3
again, TSLA is the worst among M7
You're on a roll Jim! And even better, you seem to be enjoying it and likely learning a lot as you go alongI'll save it for Yom Kippur
While TSLA chopped I scalped $2,690 today, making it $8,992 for the week so far, and $34,931.99 since the start of 2024, not complaining. I'll never look down on small, consistent gains again. They sure add up!
View attachment 1007745
I closed the long calls to take some delta off the table for the reasons you mentioned.
I'm also going into tomorrow's CPI basically flat on short calls and long on -P290 9/20/24 and -P300 1/17/25 + commons, in case this was the bottom or near here. If we break $228 I'll add more short calls. Until then just playing Scalping Arcade.
I've had everything go my way so far with writing lots of calls, the SP dropping, rolling the calls down for more premium, SP drops, and I find myself with +$154k realised for the YTD!
Now I've gone close to the sun so it might bite me in the ass, but I've made some contingency for that and if the SP does shoots up, I have around +$70k of -p220's & -p240's to help out
I see that some stocks already have Dec 2026 options available - GOOGL, MSFT, META, NVDA, QQQ, SPY, etc
Why those and not TSLA??
Why those and not TSLA??
That’s really great! We learn a lot from your trading and experimenting and appreciate your sharing the play-by-play with us.
Let’s rock 2024!
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That’s incredible. Great work! Maybe if you’d train some of us we won’t be amateurs anymore
When can we start?
Maybe post one trade IN and one OUT so we can learn the ropes?
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