Bardlebee
Member
Wow, three Seeking Alpha negative articles in one day. I feel like they are trying too hard.
EDIT: Oh they weren't the same day. My mistake.
EDIT: Oh they weren't the same day. My mistake.
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Social Chat - Short Term TSLA Movements
- Thread starter Jonathan Hewitt
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- TSLA
Nice run. Maybe the November 16th $180s I paid $18 will crawl back to a not insane level of loss.
Not much for me to do for the earnings call. I've already got 175s and those 180s. Even with a good ER, I'm mostly just hoping that break even around $195 is attainable. The chances of making any real money are small given the mid-teen premiums I paid a few weeks ago, but getting out with most of my skin intact would be a good result at this point.
I have some 170Nov8th calls that are just a bit in the green. Friday they had lost half their value...so I know your pain/situation. Good luck.
I'm hanging on to my bright red Nov 200's. They were throbbing a little less today, but still have a ways to get to green. I did however temporary reassign some solar winnings to Nov 16 170's that are nicely green. I'm really debating whether or not I should lock in the gains sometime tomorrow and then let the 200's play until expiration? Obviously the 170's stand to gain much more to the 16th, but as they're in my tax free account, I'm a little more risk adverse and tend to scalp more.
I also picked up a bit more stock in the 160's, I'm still mad at myself for offloading some a while back.
I also picked up a bit more stock in the 160's, I'm still mad at myself for offloading some a while back.
sub
Active Member
Im with you. I finally decided to buy my model S if we get a little pop, need Elon to come through for me.
I got an email from my broker saying I needed to call them or have my options approval rescinded. I called and they said they were concerned about my losses from Oct. I said "yeah that sucks. You are aware I am still up 400% for the year on my options?" He was actually cool about it and removed the threat. With today I am halfway back for Oct losses. Very exciting!
Mario Kadastik
Active Member
Nice run. Maybe the November 16th $180s I paid $18 will crawl back to a not insane level of loss
Not much for me to do for the earnings call. I've already got 175s and those 180s. Even with a good ER, I'm mostly just hoping that break even around $195 is attainable. The chances of making any real money are small given the mid-teen premiums I paid a few weeks ago, but getting out with most of my skin intact would be a good result at this point.
Consider hedging with Nov $200's for example. It allows you to reduce the cost basis for the spread and still leaves a bit for profit possible.
Yeah nice comeback austinEV. I got the same thing last year after AAPL finished crashing. My understanding is, there's a pretty stiff regulatory environment on Options trading for these brokerages and they have to show active monitoring.
I think he means selling Nov 200 calls. The money you receive will reduce your total cash outlay. Might bring your break even down to ~$195ish Your max profit is if tesla goes to $199.99 on Friday.
Mario Kadastik
Active Member
Yes, I meant selling Nov $200 calls in the same amount you bought the $180's. This reduces your cost somewhat and lowers the break even point at the cost of limiting upside. I'd sell the strike that you think will barely be reached if at all yet gives you still profit if done so. That's why i suggested $200 and not $195 as the latter basically causes you to have almost no upside potential, just break even... You might consider $205 too...
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PS! This is recovery play trying to get back to green, not a strong ER big profit play. Thought to clarify. If you think it'll blow past $200 then don't hedge that low. I personally don't expect TSLA to exceed the ATH in time for November expiration so wouldn't bet too much over $195.
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PS! This is recovery play trying to get back to green, not a strong ER big profit play. Thought to clarify. If you think it'll blow past $200 then don't hedge that low. I personally don't expect TSLA to exceed the ATH in time for November expiration so wouldn't bet too much over $195.
I agree and took similar action. I had Nov 200s that were almost worthless compared to what I paid for them, I sold them last week and used the capital to make a $170/$190 spread. I actually got to keep a small amount. Making a $170/$200 would've required an additional debit. Even though I had lost 75% of my initial capital the $170/190 spread will get it all back for me if TSLA finishes ~$188 with a tiny amount of profit if it finishes higher. A lot better chances than the >200 that was required just for the call to be worth anything. In this case anything above $170 will give me some capital back.
I'm more than fine with that hedge as I still have DEC $200s for the chance the ER brings us to ATHs and there is time for that to happen with them. Before yesterday they were worth 1/4th what I paid, now worth 1/2....haha. If the ER doesn't look good I will probably dump them first thing in the morning for whatever I can get for them before IV crunch is complete.
InTheShadows
Active Member
Indeed I hope that this will become an epic celebratory thread and not the TMC support group
Bardlebee
Member
Indeed! Also, we must keep alive the tradition that was started by some forum members a couple of weeks ago where they used to have a glass of wine in the name of Tesla :smile:
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