Wiki Selling TSLA Options - Be the House

[thenewguy1979]

Crazy dog me took a playbook out from Dl003. Sold some -215P, -213P.
Riding the Pump into earning.

Also sold -212.5P for next week.

 

[thenewguy1979]

We might be done with wave C. It now rests on ER.

still holding the boatload of -225P?

 

[dl003]

What's your gut feeling where TSLA's heading after ER?

I'll wait for at least Tuesday to give it more time to develop.

 

[intelligator]

Yesterday's contract moves ... 11k and 9k at c225 and c232.5, increase at p210, equal interest increase at 200 strike.

 

[Jim Holder]

Meantime I'm looking to sell CC's into any rips to or past $218+ if we get any.
Like -C300 6/21/24 or -C350 1/17/25

 

[BornToFly]

TSLA held up incredibly well during the massive QQQ dump. If Macros recover TSLA should go green.

 

[llirk]

First time in a long time, took advantage of PM dip to leg into buy/write at 214. Covered with 1/19 cc217.5 lowering cost basis to 211.5.

 

[intelligator]

rolled 1/19 -p215/+p175 to 1/26 -p210/+p170 for a $2.35 credit , plan is to keep rolling for credit and strike improvement , either or.

 

[BornToFly]

rolled 1/19 -p215/+p175 to 1/26 -p210/+p170 for a $2.35 credit , plan is to keep rolling for credit and strike improvement , either or.

Good credits rolling to 1/26 because of ER increased IV. Don't expect the same the following week if the -P210 ends up ITM next week....

 

[Yoona]

supp at lower BB and chewing through green Order Block

supp at 100% fib

200 gamma gone (largest is 210)

this morning's 1/19 million-dollar whales

 

[thenewguy1979]

Macro recovering. Let see where we go today....

 

[intelligator]

Macro recovering. Let see where we go today....

yeah, 1st green 15 minute candle for the day, BTC -c230 sold yesterday for 85%

 

[BornToFly]

Interesting. QQQ has been recovering for almost 1.5 hours, but TSLA has gone nowhere. Algo Flow went from Bullish to Bearish.

Are we going to have the first 5 red week streak in 3 years?

 

[Ellec]

Great thread guys. I am looking into starting this at some point. I have read though that buy and hold is superior to this in the long run, but I guess you guys aren't writing options that covers all your shares so if the stock price rockets you aren't missing out when you get allocated in the case of writing a stock covered call?

 

[EVNow]

This week I've 240 calls and 200 & 205 puts. 205 are the ones I had to roll from 220 last week.

I was about to think of closing the 240 calls and selling next week - then I remembered next week is ER !

 

[BornToFly]

Great thread guys. I am looking into starting this at some point. I have read though that buy and hold is superior to this in the long run, but I guess you guys aren't writing options that covers all your shares so if the stock price rockets you aren't missing out when you get allocated in the case of writing a stock covered call?

You can write against all you shares. It just depends on how fast the SP rises. If you sell CC for Jan 2025 with 350 strike, and the SP ends up at 400, you can roll your 350 calls to Jan 2026 to 450 or so without paying anything. Then if the SP is 500 in Jan 2026, you would roll to 600 in Jan 2027. Of course if the SP goes to 1,000 in one year, you are a little more screwed, but how likely is that at this point....?

 

[Yoona]

Great thread guys. I am looking into starting this at some point. I have read though that buy and hold is superior to this in the long run, but I guess you guys aren't writing options that covers all your shares so if the stock price rockets you aren't missing out when you get allocated in the case of writing a stock covered call?

sorry, buy and hold a.k.a. HODL is not superior

if u bought stock 3 yrs ago on Dec 7, 2020 (share price 213.91), your grand total profit is 0.

 

[Ellec]

You can write against all you shares. It just depends on how fast the SP rises. If you sell CC for Jan 2025 with 350 strike, and the SP ends up at 400, you can roll your 350 calls to Jan 2026 to 450 or so without paying anything. Then if the SP is 500 in Jan 2026, you would roll to 600 in Jan 2027. Of course if the SP goes to 1,000 in one year, you are a little more screwed, but how likely is that at this point....?

Thanks, I see, I thought of doing monthlies rather than leaps. But with leaps you can roll easier. Nice way to earn income on your shares while waiting for a dividend to be instituted.

 

[Ellec]

sorry, buy and hold a.k.a. HODL is not superior

if u bought stock 3 yrs ago on Dec 7, 2020 (share price 213.91), your grand total profit is 0.

Yeah but if you bought in 2015, you would have missed out on some large moves assuming you were wheeling your entire stake?.

 

[thenewguy1979]

Next week premium should be good.

sorry, buy and hold a.k.a. HODL is not superior

if u bought stock 3 yrs ago on Dec 7, 2020 (share price 213.91), your grand total profit is 0.

maybe he meant buy and hold till 2030 when SP hit $2000 a share as Cathie Wood projected.