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It has been very quiet on this thread here. Posting something just to be sure that the website is still working.
Any thoughts on the close today? Looked pretty weak. Although you can say it is the second highest close, which can be viewed as pretty encouraging.
I can't believe it. My limit order to sell to open sep2(weekly) call @170 for $6.5 get executed! And it was the absolute high of the moment. It is at $5.3 now.
My strategy going forward would be mostly selling both OTM puts and calls, with the expectation of trending up. I certainly want to weight on the long side, i.e. a bit close to strike price on the puts I am selling, and farther out on the calls I sell.
For any other stock, the last two days closing price should be cheered by many. Why they seems so boring as for TSLA? We've been spoiled. :smile: Yesterday up 1%, today down 0.7%, albeit the intra-day swing is 4% and 2.5% respectively.
Exactly! It's basically around its all-time high. (yes I know it was really 173) Yesterday was the all-time high close. We're right where we want to be... every day that we're up here at these levels, it strengthens the foundation for more upwards movement.
We're virtually flat, though in the red, in pre-market trading. Last price was 169.50 from yesterday's close of 169.93.
My prediction today is we'll hit the low end of the pivot area, 166-170, then finish flat but in the red, around 168.
I also think there's a 20% chance of seeing level 1 support, 164-166, get tested a bit today.
We're virtually flat, though in the red, in pre-market trading. Last price was 169.50 from yesterday's close of 169.93.
My prediction today is we'll hit the low end of the pivot area, 166-170, then finish flat but in the red, around 168.
I also think there's a 20% chance of seeing level 1 support, 164-166, get tested a bit today.
weekly options expire today and there is lot's of 165/170 open interest puts.
i wouldn't be suprise to see a peak at the start of trading then going down to 168 area and late finish above 170
In addition to what I wrote earlier, I forgot to factor in the jobs report which just came out. TSLA along with everything else was trading lower prior to the report but picked up a bit since its release a few minutes ago. TSLA is still flat but in the red in pre-market as I write this.
I really think we'll see the pivot get tested today and maybe touch level 1 but move back to being flat by the end of the day.
Yes agree 100%. The tone has been flat to neg here lately which tends to precede a rise in priceIm guessing we'll get through the 173 resistance today and end up in the mid 170s going into the weekend. My guess is there are some nervous shorts who will close going into the weekend as they know one of these weekends will be some catalytic announcement to the stock price gapping up.
Am I the only one thinking this is institutional support that will last only long enough for the bonds to become convertible? I'm thinking we'll see some 150s in October though I also think Q3 will be a good report which will drive the stock back up either before or after the next earnings announcement.
Am I the only one thinking this is institutional support that will last only long enough for the bonds to become convertible? I'm thinking we'll see some 150s in October though I also think Q3 will be a good report which will drive the stock back up either before or after the next earnings announcement.
I can't believe it. My limit order to sell to open sep2(weekly) call @170 for $6.5 get executed! And it was the absolute high of the moment. It is at $5.3 now. You can calculate my gain of the 200 calls, just on paper:
View attachment 29906
This is the first time I ever execute an option trade at the best price, so I am a bit excited. For option, you always suffer the ask/bid split a lot more severe than the shares. Typically as soon as the trade executed, you would already incur a loss immediately.
I didn't make any move except the short call Sep2(weekly) @170 I reported yesterday. It is actually a roll from a Sep @175 since I like to exit the short call sooner. It is been a "walk" up from after Q2 and suffer paper loss every time I walk to a further call. So nothing major changed. It is a burden I want to get rid of, however discipline tells me to keep it.
My TSLA predictions have a poor track record, but the current price level is suspicious to me and I suspect exactly this scenario. I will limit my exposure after 9/23 (the last of the 20 days needed above 161.88 if we don't have an intervening drop) and after the start of the next quarter.
Kevin - I am glad that your strategy is working well and I appreciate that you are sharing all of this with us, so keep it coming.
For discussion purposes, I wanted to point out that you have been extremely lucky with your strategy, since TSLA has been trading in a range for the first time in months. If it moves up big time, then you will miss out a lot. I guess that your main job is limiting downside, but I feel that it would be a lot better to buy TSLA stock and hold for 10 years then to play the same way you are doing, but time will tell. Sooner or later you will miss out big time.
On the flip side, if TSLA corrects 20%+ in the near future, your strategy will look genius and you will be able to pick up some shares/options really cheap.
I don't see TSLA going down though, there is just way too much momentum for this stock and it looks like Q3 is going to be a huge blowout quarter.
I just went (even more) long TSLA today as well as yesterday, because this stock is going a lot higher in the near future.
Just wait till the China reservation nubmers come out, or when TSLA preannounces earnings because it delivered over 6,000 cars vs. 5,000 estimate, etc.
Just wait till the China reservation nubmers come out, or when TSLA preannounces earnings because it delivered over 6,000 cars vs. 5,000 estimate, etc.