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Wiki Selling TSLA Options - Be the House
- Thread starter adiggs
- Start date
There’s no good answer that doesn’t involve more risk because you basically sold at 130 plus the premium unless we drop back down.
When this DITM you can roll it far out to move it up a few strikes but then you’re stuck with an ugly losing position for 2 years doing nothing. And even if the stock does drop back down, you’re still stuck with a contract 2 years out.
You can probably still roll week-to-week for a small credit ($0.20-0.50/contract maybe) and just wait and hope it comes back near your strike.
If you have more shares, you could do something like double the number of contracts into twice as many at half the price, which will move the strike up a good amount. If you don’t have more shares, you could buy some more and lower your cost basis.
I think he's gonna be ok. Will see low 160s again soon.
If you have the cash/margin then you could form a straddle, 60x -c130 -> 30x Sep -p175/-c175
That a) halves your number of contracts and b) one side will expire worthless whatever happens
I find these constructions very helpful for escaping when the trend reverses without reason or warning, as TSLA tends to do, rather too often...
SpeedyEddy
Active Member
I possibly got lucky buying both 4/26GOOG Put and Call 15 dollar out the money @$155 (so P140 and C170)for 1 dollar 92 cents expecting a larger move.... Could bring me a lot tomorrow. If delta does not fade away overnight.
TSLA: bought back 1 -P
MSTR: bad trades today, and decided to hold on to a DITM Call 1160 beyond close (tricky tricky..)
TSLA: bought back 1 -P
MSTR: bad trades today, and decided to hold on to a DITM Call 1160 beyond close (tricky tricky..)
Are we nearing @dl003's warning to cut shorts and get out of the way of the runaway train?
Tune in at 11...
Tune in at 11...
We have Stoch on the 60-min and got it today on the daily, just need to take out $180.38 to unlock next level.
Daily:
Whoops, -c175, will adapt the post... can push those out to Sep -c240 if they go ITM, then my Jan 2025 +c300's come into play, etc...
A bit of red tomorrow would be welcome to write some puts...
Day 3?....2 greens!
TSLA After Earnings - Day 1
View attachment 1041681
TSLA After Earnings - Day 2
View attachment 1041682
The 50-day is $175.xx
Gonna likely be a fight.
But if it takes it out,
The rocket might ignite.
Gonna likely be a fight.
But if it takes it out,
The rocket might ignite.
thenewguy1979
"The" Dog
We all have bad days and good days. Only difference is BTF allowed us to join him on the rides on both the good as well as the bad.
Many of us got sideswiped by the PD and now ER.
Just got to pick ourselves up and move on to happier days.
Don't let emotion dig a deeper hole.
This is probably the 10th time I've posted this, but
Once we've broken out of the daily trend resistance, the trend flips to bullish but overwhelming chance it will go back and retest the breakout level at 163.5. One out of 3 things will happen:
It will go down a bit further than 163.5, but eventually will turn up to make new highs
It will tap 163.5 then skyrocket, like it did on January 25th and May 24th of 2023
It will keep going down until it breaks the newly established daily trend support around 138
So if your goal is to rescue your CCs, pay very close attention to this level. As some of you know, as a trader I pay zero respect to the fundamentals. I only go off the probability of a setup playing out in the past and apply it to the current setup. So if you think Tesla is doomed and this is just a dead cat, just keep your CCs open until TSLA goes down to 80 or 100.
But if I was stuck with DITM CCs, I will have to make the difficult decision at 163.5 to cut them all or risk getting left behind. Your choice.
Once we've broken out of the daily trend resistance, the trend flips to bullish but overwhelming chance it will go back and retest the breakout level at 163.5. One out of 3 things will happen:
It will go down a bit further than 163.5, but eventually will turn up to make new highs
It will tap 163.5 then skyrocket, like it did on January 25th and May 24th of 2023
It will keep going down until it breaks the newly established daily trend support around 138
So if your goal is to rescue your CCs, pay very close attention to this level. As some of you know, as a trader I pay zero respect to the fundamentals. I only go off the probability of a setup playing out in the past and apply it to the current setup. So if you think Tesla is doomed and this is just a dead cat, just keep your CCs open until TSLA goes down to 80 or 100.
But if I was stuck with DITM CCs, I will have to make the difficult decision at 163.5 to cut them all or risk getting left behind. Your choice.
Thank you.
From your experience, how has TSLA handled the 50-day in the past, and should we be concerned for it to turn into a launchpad like it does for other stocks?
Based on the current GEX profile for tomorrow expiration 4/26, a visit back to low $160's is not out of the question, but it will be met with buying by MM @$162.50 area (the big green bar) which should slow any fall further:
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