Wiki Selling TSLA Options - Be the House

[thenewguy1979]

Brutal day today.

Dog aint have much money in. But the heat has been crazy.

More days like this next week the dog will be working at Wendy.

Position wisely guys. In doubt ask Tivoboy for his Magic 8 ball.

Dog’s ball no longer work lately….

 

[StarFoxisDown!]

Gap close ?!

146.41 to 154.76 on Jan-26-23.

Low today 146.64.

Gap is filled but I think we have a flash crash on Monday given the way the macro's are acting.

I think there's gonna be a market wide flush on Monday morning. maybe a 2-3% macro drop, followed by an afternoon rebound. That would give the Nasdaq, at the bottom on Monday, a full 10% correction from the recent ATH.

 

[tivoboy]

Dark Humour.

$NVDA has lost MORE THAN HALF A TESLA this week in mkt cap.

 

[Jim Holder]

Dark Humour.

$NVDA has lost MORE THAN HALF A TESLA this week in mkt cap.

These days that’s not a lot unfortunately

 

[juanmedina]

Dark Humour.

$NVDA has lost MORE THAN HALF A TESLA this week in mkt cap.

Also looks like Tesla China is moving to a four day work week..or maybe a more Frenchy 34 hour work week.

NVDA gave up all the earnings gains and then some.

 

[Yoona]

I wasn't so fortunate. Not only did I forego closing yesterday, today I couldn't trade, was driving, when I got to my appointment, SMCI was already down to 760 ! I had to call in and have an options specialist manage the rolls to next week ... and the SP continues to dive. Now have +p685/-p785 rolled at small credit down and out and +p730/-p830 rolled for debit off-setting the initial credit also down and out to 4/26. They are each beet red. Reading into the lack of news and expectations that SMCI earnings aren't going to be good, don't know what to do other than roll until I can't ???

Be careful folks, I took the initial sold sides at .04 delta ... this drop wasn't expected.

yes, for this reason i am transitioning into Covered Short Strangles (instead of spreads): less income but more protection from black swans (twice already this year)

today's 0dte ~23% drop is even worse than the Feb -20%, enough to wipe out months of profits

https://optionstradingiq.com/covered-short-strangle/

 

[elasalle]

TSLA gonna save the whole market next week ... mark my words

Giga India, well behaved Elon, yes we are doing both RT and Gen 3 ....

 

[tivoboy]

TSLA gonna save the whole market next week ... mark my words

Giga India, well behaved Elon, yes we are doing both RT and Gen 3 ....

Technically, my $$ on $MSFT saving the mkt.. as crazy as that sounds..

 

[Jim Holder]

 

[CHGolferJim]

David Baron is not an analyst. He runs a fund with his father that is 30% TSLA and 10% SpaceX plus they got roped into Titter. Ron always goes on CNBC cheerleading the stock when it's down. The fact he isn't now, and his son is out basically telling Elon to get his head out of his ass isn't a good sign.

Maybe it will be effective though.

 

[MikeC]

Remind me - the market doesn't bottom on what day? Was it Friday? I hope it's not Friday.

 

[elasalle]

Sold 69 shares from the CC piggy bank and bought 10 Jun 26 400 Calls for $9.90 each
... playas gotta play ... contrarian, be greedy when others are fearful ...

 

[CHGolferJim]

Dipping my toes — bought back x00 shares at $148 sold a few weeks ago for $173 in an IRA account. A GTC limit order is in for the other half (x00) at $140. Total increase of 5%.

 

[tivoboy]

Whew.. I’m closing the June SPY 490 puts here, up ~ 3.75x.. I’m actually going to do something crazy and SELL JUNE -p475 for $6.8-$7.. 4715 is decent support down to about 4680, but then nothing down to ~ 4415, but I’m willing to take that chance.

Closed nearly all -cc for May, some for June. Numbers we’re not going to see for a while.. MSFT at 440, CRM 330, NVDA 940, MAR 270, JPM 210, the list goes on.. my quarters done.

TSLA is in break down IMHO, I’m pretty sure we’ll get under $140 at this point, if not settle somewhere between $128-140, I’ll be a buyer in there somewhere.

 

[Jim Holder]

 

[EVNow]

Gap close ?!

146.41 to 154.76 on Jan-26-23.

Low today 146.64.

Well - low of 146.22. So the gap is truly closed.

I had to roll my 150 puts to 138 (right at the bottom minutes ago). Earlier I rolled 155 to 145. So, puts I normally wouldn't have carried through ER. So, if we lose another 5% after ER, we'll be around 130 end of next week.

 

[tivoboy]

Well - low of 146.22. So the gap is truly closed.

 

[thenewguy1979]

yes, for this reason i am transitioning into Covered Short Strangles (instead of spreads): less income but more protection from black swans (twice already this year)

today's 0dte ~23% drop is even worse than the Feb -20%, enough to wipe out months of profits

View attachment 1040022

https://optionstradingiq.com/covered-short-strangle/

Scary day. But your spread are usually 200 points wide. Wouldn't a roll work even today?

 

[Yoona]

Scary day. But your spread are usually 200 points wide. Wouldn't a roll work even today?

not wide enough for credit on rolling down, ideally should be Strangle width to get credits

 

[thenewguy1979]

Next week is the beginning of the M7 earning.

1st up TSLA Tuesday
2nd up Meta Wed
3rd up MSFT Thu

All after closing. Pretty sure the words "AI" going be repeated couples dozen times perhaps pumping NVDA along the ways.
Dog didn't lost his seed money this week but greedy dumbass him bought some NVDA call during the dump.