Wiki Selling TSLA Options - Be the House

[elasalle]

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.

as long as your shares don't get called you don't pay the hight tax ... so can you not just roll your -C300 June 24 Covered Calls, to Jan 25 for some extra debit, and close a few calls with the proceeds and see how it goes ... save a few shares at a time, cheers!!

 

[dl003]

I've never said last week was the bottom. My number is 171.7 and I've said one more flush but it's not gonna be below 171.7. Normally I allow the stock room to bottom but on rare occasions, such as this, my number is firm.

Alright who got scared?

 

[Discoducky]

Alright who got scared?

View attachment 1027061

was just thinking that we were close, 172.41, but no cigar.

 

[mongo]

Alright who got scared?

View attachment 1027061

Anyone who didn't remember the 235 precondition part of your post?

This time if it reaches and 235, gets rejected, re-tests the current AVWAP lower band around 170-180 and fails, it's going to get very ugly. Think low 100s again. So, while I'm not saying that will happen, if I see something like that developing, it might be the most important warning I will have given. Get your affairs in order starting from now would be smart. Be grateful if that doesn't happen again but if it does, a few accounts will be wiped out again.

 

[ProfessorZoom]

NO MORE SPREADS for me.

I bought a protective Put spread

 

[Jim Holder]

 

[Jim Holder]

Alright who got scared?

View attachment 1027061

Nice!

And a beautiful tweez on bottom shaping up if it hold up here.

Now we need no more flushes!

 

[Yoona]

TSLA this morning's 3/15 $1M+ trades

 

[SpeedyEddy]

was just thinking that we were close, 172.41, but no cigar.

still bought another 100 shares @173.24 as we got a higher bottom on the 1minute chart. Mostly @dl003 's bottoms are nearly reached, lately, he afterward thought they were good enough, so did not wait for such a call this time ;-) still a bit overleveraged on far OTM calls SMCI so can not break th bank on this, but thinking about exchanging -P 185 into a OTM LEAP to lower margin, but still profit from the rise..

 

[BornToFly]

@ProfessorZoom I bought a protective spread to guard my margin. I didn't sell one.

 

[dl003]

NVDA May 17th 1700Cs are paying $5.
At that price its market cap is going to exceed $4.5T
Something I'd look into shorting.

 

[dl003]

There's the impulse we're looking for to start things off right.

 

[thenewguy1979]

NVDA May 17th 1700Cs are paying $5.
At that price its market cap is going to exceed $4.5T
Something I'd look into shorting.

Didnt some CEO say we'll exceed Apple Inc AAPL and Saudi Aramco combined...... Look where we now.

Dream on.....

 

[tivoboy]

There's the impulse we're looking for to start things off right.
View attachment 1027090

That’s a lot of EW action, for not even being able to regain the prior day or days AH high? Certainly is getting interesting.

 

[dl003]

That’s a lot of EW action, for not even being able to regain the prior day or days AH high? Certainly is getting interesting.

It's only the first leg.
An impulse can be the 1st wave of a bigger impulse or wave A of a zig zag, both of which support a move into the 185-187 area after some consolidation here.
As of this moment, we certainly have a few interesting elements in play.

1. The 171.7 level held, but it's only good for the sequence from 205.6. If this sequence was the entire wave C, good. If it's only wave 1 of C, then caution should be exercised at 185-187 as that'd be the end of wave 2 of C.
2. The weekly bullish divergence is still fully intact. This so far has had a 100% hit rate in predicting bottoms in TSLA.

So, I'm leaning a lot toward 205.6 - 172.42 was the entire wave C.

 

[john tanglewoo]

@Max Plaid @TexasGator @MikeC @elasalle

​

Just wanted to thank you all for the advice. I will do some combo of rolling etc to try to keep this alive as long as possible, as I don't need the cash and due to capital gains do not want to get exercised.

Really appreciate the plethora of advice on the forum due to members like you. Thanks so much!

 

[Jim Holder]

 

[ChiefRollo]

View attachment 1027114

Let’s see if we get to $185 this week…giving MP another chance.

 

[BornToFly]

There's the impulse we're looking for to start things off right.
View attachment 1027090

Any guess/thoughts on Friday close?

 

[stealthyc]

Any guess/thoughts on Friday close?

My guess is 185