TSLA beats (resistance around 780)

    Posted by steve on 20th of Jul 2022 at 04:07 pm

    TSLA beats (resistance around 780)

    Nice fade (trade) on TSLA

    Posted by steve on 20th of Jul 2022 at 04:14 pm

    Nice fade (trade) on TSLA off resistance 

    Was lower risk given the

    Posted by fundamentalvalues on 20th of Jul 2022 at 04:42 pm

    Was lower risk given the conference call isn't until 530. Thanks for calling out the resistance area! Guidance gonna be interesting. He already sandbagged expectations a bit saying he was very concerned about things and plants were money burners. Margins down to 26.2 after inflation. Still pretty good given this economy. He definitely has a fan club.

    Still don't see how it's good going forward. Report was that he may not even be on the call. Does he normally not show? 

    I sold 550/580/600 strike puts

    Posted by arun on 20th of Jul 2022 at 04:16 pm

    I sold 550/580/600 strike puts for a decent premium. should erode at open

    How many did you sell

    Posted by tmbrook1 on 20th of Jul 2022 at 04:35 pm

    How many did you sell to make this worth the effort.

    All short or spreads? If

    Posted by DigiNomad on 20th of Jul 2022 at 04:19 pm

    All short or spreads? If all short, why did you layer the strikes? 

    I sold the puts ...

    Posted by arun on 20th of Jul 2022 at 04:21 pm

    I sold the puts ... so I was synthetically long... did it in layers to decrease risk. They expire friday

    Selling puts is my bread

    Posted by DigiNomad on 20th of Jul 2022 at 04:30 pm

    Selling puts is my bread and butter (100% of my IRA's and most of my taxable accounts). Never layered them though. Interesting approach. In something with options as liquid as TSLA's are, I personally would have sold a put spread with the short strike where the technicals indicated risk was minimal with the long strike positioned to give me the desired profit for the trade. Wider spreads are typically better than more spreads...at least from my research. When I get challenged, I typically roll the short strike down and double or roll out and down for more credit and time to be right (no double on the roll out and down).  Your trade ties up a lot of capital, but you made money and I sat it out. Nice trade. 

    yes it does tie up

    Posted by arun on 20th of Jul 2022 at 04:35 pm

    yes it does tie up capital but I am ok with that because it stops me from using too much capital for other trades and hopefully by friday afternoon they become worthless

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