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Wiki Selling TSLA Options - Be the House

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Reactions: llirk and UncaNed
I guess the question is why did you let the 1 in 25 clean you out entirely?
Perhaps if it bigly went the wrong way overnight? Say if I only ever buy or sell options, no spreads, no hedging...? ...(so did I just tell everybody I'm doing it wrong?)... Is that why my trading account balances are indeed but a rounding error of my balances during the TSLA ATH's of $1,200 and $400?
 
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QTA levels for today

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3/15

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3/22

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I bought a protective Put spread for next week. 50X -165/+170.
If we get below 170 I let the shares go and roll down the -165 each week. Cost $1.69. I should have done it yesterday.

Edit: I finally pulled the trigger because we took out the previous lows of 173.70
 
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I bought a protective Put spread for next week. 50X -165/+170.
If we get below 170 I let the shares go and roll down the -165 each week. Cost $1.69. I should have done it yesterday.

Edit: I finally pulled the trigger because we took out the previous lows of 173.70
Pretty much caught the low. You're welcome. 🤦‍♂️

(At least I was smart enough to buy for next week.)
 
BTC 50x TSLA 3/15 -c190 @24c (net +$2.16 = 90% profits)

STO 10x TSLA 3/15 -175 straddles @$7.2 -> mostly for entertainment, but 175 has been quite sticky all week, so...

Note: NVDA July +p600's dropped 15%, remember last week they seated going up in value while the SP was rising, might be an indication the stock rises from here... or not...
 
Off topic, but curious what you'd do in my situation.

Back when market was tanking, I hedged most all of my NVDA position when the stock was around 160. I was fearful of losing stock value, so I sold calls against most of my position to fund a put spread.

The calls I sold were -C300 50x 6/21/24 at 176.54
The put spread expired worthless.

I had actually rolled these sold calls up once from 250 and payed a hefty premium. Now the situation is basically untenable. Sitting on about $2mm gain in stock that I will likely lose out on from being too slow to continue rolling the position as the stock went up.

Worst part is my cost basis on NVDA is $38, so it's going to be a massive capital gains hit if all the shares are sold away.

Advisors are telling me that if i'm still bullish on NVDA, to simply take the loss and re-enter the position. Just wondering if you'd have any suggestions. Shitty situation to be in.
There are many risks here. One big risk is you take the loss and the stock goes back down to 500. Now you owe stock on gains you've already lost. You can probably roll the calls out and up some to 2026 and get some of the gains back, without risking paying taxes. The downside is it goes to 2000 and you're locked in at 500. The upside is it goes down and you find some wiggle room to close out the calls without taking any loses. You can then sell way out of the money puts and buy back some of the calls over time. Look at Yoona's math before selling any puts. A 10% swing is not uncommon. When I used to run a lot, I learned you can make up minutes over miles, you can't make up miles in minutes.
 
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