How to get out of Tesla short put positon

[ironchef]

Ride it out until expiration, It will probably expire worthless and you'll be in the money. I see TSLA above $500 by Friday!

He is probably on margin and any further drop may trigger a margin call and his broker closes the position.

Your idea is good if he can afford to wait it out.

Frankly, I had been there, tried all the different "mitigation plans" including roll down, roll out. I came to the conclusion that the best for me was just simply closed it out, took the loss and called it a day.

 

[manic]

Can you roll it out to later expiration with a lower price? That seems pretty easy to do when I look at the option chain.

For example, you can buy back your option and sell the 5/15 450 strike price for a credit of around 3,000. If you want to roll to an OTM option, you will have to roll a lot further.

 

[Stamamarti]

ans: dont sell puts

and if someone on reddit tells you to, tell them gfy

why are these posts always made by some 2 or 3 post turkey????

are they trolls, or existing users afraid to admit a loss ??

WTF, you are only 320 posts away from these

 

[ChrisDouthit]

You sold naked puts in Tesla? I hope you got a fat premium for that because that's super risky.

 

[NewTraderAdventure]

WTF, you are only 320 posts away from these

genyus , are ya ?

 

[NewTraderAdventure]

He is probably on margin and any further drop may trigger a margin call and his broker closes the position.

Your idea is good if he can afford to wait it out.

Frankly, I had been there, tried all the different "mitigation plans" including roll down, roll out. I came to the conclusion that the best for me was just simply closed it out, took the loss and called it a day.

You figured all that out he hard way ?

How do you know you're talking to an options vermin? They use the word repair

There is no repair. Only new bets that either win or lose

 

[NewTraderAdventure]

How to get out of Tesla short put positon

1) Dont get in it to begin with
2) Find a bigger sucker and sell it to him
3) Flee to Honduras

 

[NewTraderAdventure]

I'll tell you exactly why turkeys do this
The look at the 'high price' of the put, which is elevated because its a (was ,lol) 600-900 stock

They think the put buyer is an idiot

They have reddit accounts

 

[ironchef]

You figured all that out he hard way ?

How do you know you're talking to an options vermin? They use the word repair

There is no repair. Only new bets that either win or lose

I am not a pro like you folks. Live and learn.

I am an amateur retail. Yes, I learned my lessons the hard way, with tuitions paid to the MM.

 

[ChrisDouthit]

That is not how you trade options, you might win a couple of those and take your kicking ass, then suddenly things don't work out and you lose way more than all the ones you've won.

If you're going to be selling premium, I highly recommend you do a spread, then at least there's a limit to the pain.