Hopefully we’ll find out from him soon enough!
I think everybody here is mature enough to welcome him back without any ribbing
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Wiki Selling TSLA Options - Be the House
- Thread starter adiggs
- Start date
Hopefully we’ll find out from him soon enough!
I think everybody here is mature enough to welcome him back without any ribbing
Yes, I know this well. The scary thing is selling 9,000 shares, you plan on keeping until SP 1,000, at 180 and having the SP run on you without ever coming back to 180....
New plan -
Before ER, I had sold 1,000 shares at 207ish. Obviously those are easy to buy back when the SP goes up because there is such a big gap to get there. What I want, if the SP drops, is a nice gap from where I sold to where the SP is. So I will buy 100X 180 Puts for Feb 9th. (or 175 strike if we open down tomorrow). Obviously they are a little expensive, but I can pay for those with 2 weeks of weekly 350X CCs. Once I buy them, if I roll the Puts with a week to go, it is usually $2 or less to roll a contract (so I can keep them alive for as long as I need). So I can keep rolling for a while by selling CCs to pay for it. I can go without CC income for a month. If the SP drops to 170 or lower, I exercise the Puts and now have a nice gap from my share sell price of 180 and what ever the SP is at. Now it can go its drop to 150 or lower and my margin will be fine. If the SP gets low enough, I can buy cheap 180 Calls to get shares back if there is a rebound.
I hate wasting money buying Puts, but in this case now I think I need to in order to avoid larger losses.
Edit: If my March 170/195 ends up ITM, I'll just pay to roll it to January..., AGAIN! Nothing like 3 years to get rid of an ITM BPS
Before ER, I had sold 1,000 shares at 207ish. Obviously those are easy to buy back when the SP goes up because there is such a big gap to get there. What I want, if the SP drops, is a nice gap from where I sold to where the SP is. So I will buy 100X 180 Puts for Feb 9th. (or 175 strike if we open down tomorrow). Obviously they are a little expensive, but I can pay for those with 2 weeks of weekly 350X CCs. Once I buy them, if I roll the Puts with a week to go, it is usually $2 or less to roll a contract (so I can keep them alive for as long as I need). So I can keep rolling for a while by selling CCs to pay for it. I can go without CC income for a month. If the SP drops to 170 or lower, I exercise the Puts and now have a nice gap from my share sell price of 180 and what ever the SP is at. Now it can go its drop to 150 or lower and my margin will be fine. If the SP gets low enough, I can buy cheap 180 Calls to get shares back if there is a rebound.
I hate wasting money buying Puts, but in this case now I think I need to in order to avoid larger losses.
Edit: If my March 170/195 ends up ITM, I'll just pay to roll it to January..., AGAIN! Nothing like 3 years to get rid of an ITM BPS
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100% agree. I’m in the same boat. It definitely requires watching the market carefully.
I wonder if a rule-based automatic order set in place to buy back in at a certain threshold may work as a safety catch, so if it runs back over $180 it triggers a buy
Unfortunately the SP will usually go back and forth over what ever price you pick. Death by 1,000 cuts as you keep buying and selling with a small loss over and over. I can never seem to sell right before the big runs down....100% agree. I’m in the same boat. It definitely requires watching the market carefully.
I wonder if a rule-based automatic order set in place to buy back in at a certain threshold may work as a safety catch, so if it runs back over $180 it triggers a buy
You’re prolly right. I got lucky the one time selling at $223 and buying back at $212 which turned out to be the bottom then, but I also remember once chasing back and forth during an earlier time and got chopped up for $9k. It was so frustrating and upsetting. Which is probably why it only plays to attempt this at major channel bottoms (like $177-$173). But then again, they could overshoot down and pop back up. Sux that there’s no easy way!
If you wanted to sell shares at 185 on Friday, and buy them back every time it went back above 185, you probably would have bought and sold over 30 times. Because the trades take time to settle the cash, I don't think the brokerage would even let you (you would probably run out of intraday buying power), although I admit I've never tried.
Edit: If you had sold at 186.60, you would have been golden....
They are going crazy for Cybertruck in China... 
https://x.com/ray4tesla/status/1751718542460985610?s=20
https://x.com/ray4tesla/status/1751812174115443008?s=20
https://x.com/ray4tesla/status/1751718542460985610?s=20
https://x.com/ray4tesla/status/1751812174115443008?s=20
2/2 gex, mp, and tallest call oi are each at 187.5 ... is that right?
EDIT: Thanks for confirming , appears similar for 2/9 , the three align ... hmmm
EDIT: Thanks for confirming , appears similar for 2/9 , the three align ... hmmm
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That screenshot totally looks like an actual stand alone post on a smartphone; drove me nuts trying to click on the picture of the back-to-original-post-link-thingy, all to no avail.That was a screenshot that was part of my post
Wow, that's a serious repositioning from last week when it was $220!
Given that I have 1:5 -185 ratio straddles written for Friday, I'm feeling quite comfortable, until it all changes without warning, of course...
$187.50 is a super level this week with much GEX confluence, we can expect that level to be one with a lot of interest. Keep an eye on it.
Also this is not a normal week as it is an FOMC and has BIG TECH earnings. Trying to forecast a range for the week is usually difficult and this is the where anything can happen, is more likely to happen so expect the unexpected. I try to not even take that many positions on a week like this, or trade small and take it one day at a time.
From recent years the market is usually very choppy today and finished the week green.
Also this is not a normal week as it is an FOMC and has BIG TECH earnings. Trying to forecast a range for the week is usually difficult and this is the where anything can happen, is more likely to happen so expect the unexpected. I try to not even take that many positions on a week like this, or trade small and take it one day at a time.
From recent years the market is usually very choppy today and finished the week green.
Would you guys be buying 180P for next week?
I'm starting to think my fear is affecting me.....
Edit: Screw it. I did it. 80X @ 3.84. +180P for Feb 9th
I'm starting to think my fear is affecting me.....
Edit: Screw it. I did it. 80X @ 3.84. +180P for Feb 9th
Buying them could be smart, but FWIW, I just STO 200x TSLA240202P180 CSPs. At first glance I thought I might’ve sold you the puts you purchased, but then I noticed that you’ve got an extra week of protection.
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