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Covered the put, just don't want to risk a gap down on the stock.

Covered the call

I sold the put as TSLA was going down fast, so it had open losses. The first thing I could think off is - let’s hedge it and reassess the situation later. The trades were maybe 10 minutes apart. My premise is that TSLA is going to be range bound for some time around 1000 level but still...

I thought that someone who is trying to trade for a living while doing gig jobs and has some coding experience may benefit. If someone wants to get a leg in the door with minimal programming and financial skills, I think this may work.

Came across this job add and thought it could be perfect for someone here. I have no affiliation with them...

Nicely put!

What spread would you use if you had that belief? I don’t have any firm believes. TSLA can do anything. But it does have a lot of volatility in it to be able to profit no matter what it does if you are nimble enough. Am I nimble enough? Probably not. @taowave and @newwurldmn, let’s say you...

Sorry man, you are not Netflix status just yet :)

You mean why I originally wanted to play the drop with 30DTE long put? I wanted to buy some time in case TSLA drifts higher for a few days. Why else pay for time unless you think it will give you some choices to adjust the position? In other words I didn’t want it to be a pure gamma play where...

I will give you my two cents. Don’t even bother testing, your data will be predictive. Why? Because I see more people using this kind of data as it becomes available to masses. So what we have is another self-fulling prophecy: people examine what happened before, make their bets based on the...

You know where that comes from?

I guess I did :) But if I would say : “Based on my extensive research and back testing(not true), my model is indicating that TSLA will spend 30 days consolidating here followed by retest of low-to-mid 900s” that wouldn’t sound too far fetched would it?

I see what you are saying, but it kind of went from a quick trade to a 90 day adventure (mental burn?) I am not a volatility trader, so I will just use the option as a proxy for directionally trading the stock on the short side. I may switch the short leg to weeklies.

It’s not, but I am going to try making it so by trading the short leg(poor’s man covered put?). The idea is to pay fully for the long leg and then be left with the long put by itself (hence the lottery ticket). Easy to imagine, hard to do.

Thanks for posting the graph. It looks terrible but I am hoping I can trade in and out of the short leg multiple times. I suspect there will be a lot of discussion whether TSLA deserves this valuation or not, providing some opportunities. Let’s see.

It started moving quickly against me and I thought it might have been a blow off top, so I just thought of “hedging” I am thinking that I have enough time on the long leg to close the short leg and then to re-short again. In best case scenario, I would like to have a free lottery ticket ticket...

So I screwed up today. I don't normally trade anything related to TSLA, but today I couldn't help myself and decided to buy a put when TSLA hesitated around 1040s. Since I normally sell puts in that account, I accidently sold the $990 put instead of buying it. As Murphy's law would have it...

Hm, maybe my trade is not as bad/dumb as I thought lol (or maybe it’s @destriero trade, either way): https://www.tradersinsight.news/traders-insight/securities/options/what-is-the-options-market-telling-us-about-facebook-earnings/

@W-M-A, thank you! I often hesitate to start a new thread because I am not sure if it contributes anything of value, but then someone like you starts commenting and it makes it all worthwhile!

I think it’s just for fun. Especially the las point :)