Hi guys, all new to me... I bought a tesla recently and decided when I bought it to pay for it with TSLA options. I had this idea for while so decided the time was right. -COST: car costs me total $45,270 ( including registration ) so that's the target with a increase from taxes, being its the new year I'll set at a 30% tax add ( $13,581 ) so need a total of $58,851 to pay for the car - TSLA: I'm not new to TSLA, been playing it for the last maybe 8 months, in that time I've made some $5 bets to $15,000 bets.. to be honest it's all about many factors: mood I'm in, how I'm feeling with the news, time of day I can trade, multi stage trades, is other side dealing where I want or no, life schedule.... these all factor why you might see I bought only 5 options.. I maybe didn't only buy them, maybe market closed to someone didn't give good pricing I wanted to available margin I had left. to tell you my dirty secret I actually like the small plays better, it's usually just a small win for that week that I want to set on and so those really give me more excitement then the bigger plays 99%of the time... haha -MARGIN: This is a side project, I usually play ES as my main, so whatever available Margin I have left I usually play TSLA then others like AMZN or whatever tickles my fancy.. -PLAYS: I'm going to show real plays, wins and loses ( If I have any ) as I have not had any "losing" plays with TSLA the time I started to play with them. all the screens you will see is when the option expires that day. losing one's I will close out, I will take a screen before selling off. these are not middle of play screens, as I Have many open options that just haven't expired yet so I will show them when it comes expire date or I close them out.. -STYLE: if you see I usually do naked puts, I want to get more into calls but obviously they don't pay as much for the further OTM you go. I sometimes will do a strangle, just depends again on my mood and how I'm gauging my comfort level. I like naked as that's how I sorta trained myself into options so it's what I'm comfortable with. PROBLEMS: thing I notice with TSLA being such a volatile stock, the options don't always move in line with them.. for example a -3% move in TSLA some days will result in a lesser premium for options then just yesterday.. sorta like everyone knows how TSLA moves that it really doesn't shock someone to see Tesla move like a bouncy ball.. this is a huge problem because if you go to pick up naked what you have is a decrease in premium and an increase in risk when we say compare to picking them up yesterday ( minus the risk s you now take that on as well.. ) but it's a thing I've noticed where you can't just say, hey good TSLA is down 4% today, premium is going to be picking up.. it actually works usually in reverse as I said with decreasing premiums I think more based on time decay rather then movement of stock.. in a general. -WHY: I'm doing this to show people to set a goal to achieve something you want in trading., for me its usually to buy something.. I want a pair of sunglasses I hop o the market and make a play. want a new iPhone I hop on to make the money. I want to show people to have a goal and don't stop till you reach it. - COMMENTS: please keep it civil. I also love to hear feedback, I'm "new" to options so any advice or comments you would like to give please do! this is about learning for everyone, so if you have some advice or suggestion or advice with TSLA or my style please say.. I'm always modifying my style how I play options so I am very open to learning how to play options better!! -LAYOUT: I have an autistic kid so I'm going to keep this brief and simple with screens and maybe a count where I'm at paying it off.. once again the main goal hopefully is to inspire people to set whatever goal you like, maybe it's $10 or maybe its a half a mill trade, whatever it is it's your goal.. this is my goal and has been for a long time, so I thought to put my money where my mouth is. hope you guys enjoy!
The company is going to to need to do a capital raise. I've been short since 292 in size on that premise and got lucky while waiting. I covered today at 265 (29K shares) but I am still short in swaps, short deltas as well (200 puts; bear diagonals; short synthetic combo). The shares are due for a bounce. I'd imagine that 272 is the ceiling next week.
%% HUH-luck?? May bounce a bit on tick charts;Rather than luck, looks like lousy fundmentals 220% debt, lousy fundamentals, $40 million SEC fine, down 50 + 200 day moving average. Congrats on profits.
damn Destriero.. well I guess you can just buy us a fleet of them right? hahaha.. nice move. whatever you're doing you make us like look micro transactions, good on you man. one day maybe I'll make trades of that amount I don't think I'm there yet, as I don't like for say directional play as to me it just acts like a YO-YO.. everything is stacked against the company it seems, but you'll have days where someone was on the wrong side of the fence and ate a 10% loss... it' just a crazy stock, so I like just saying where I think it won't go. first set: I guess it's easier to just add up wins at this point, once again I have many open plays so some eats into margin, I moved m accounts around so missing a lot of money out of this account, and sometimes I don't feel like it, sometimes people won't deal, too bad I didn't start this sooner as my last plays for the weeks have been $5,624, $10,233, $7,902 .. but doesn't matter as I said it's about having a goal.. maybe I will make a play and close this out in a month, maybe this will drag on for months and months.. either way I'm just having fun, this might appear boring, the main factor once again is to make others think.. man what do I want to accomplish with trading.. my next goal lined up after this is the roadster... that is if they are still in business.. I guess the problem I found already is owning one I'm biased to the company.. they are amazing cars if someone hasn't driven one yet.. they are quick, quiet, and just like a normal car.. to be honest I don't see myself ever owning a gas car again.. so I need to keep that in mind when I make a play.. but really are stocks ever 100% predictable because fundamentals or earrings or metrics or news.. I've seemed to come to the conclusion no.. that's just me what I would like to accomplish minus paying off a car is working up the courage to : -bigger plays then I normally do, usually they can range from 5-500 contracts.. I guess I would like to bump this up.. I use to do 5,000 contracts on earnings plays and really need to get back to a higher number so I have less plays going on and more focus, and more commitment to my thought -closer into ATM, if you start to see, I do far OTM plays as that's how I taught myself naked options, but there is far more money going on at the action level. I like these as sometimes I don't get on and check the market for a day or two, their near set and forgot plays where I don't like to monitor or be o the market for more then what I wanted to accomplish ( ease ) -making plays to close out.. If you see one again I usually hold to expiration, where when you're picking up .5 cent contracts you can't sell off without a big loss and pickup another,, to me it wasn't worth the risk, and yes our time is valuable here, but I didn't pick them up for a buck.. I've noticed when picking up some monthly options how wide then can move if you time right where it would be more -longer dated options.. I trained myself in weekly expiration options. I started picking up month and two month out options.. this I am loving and would like to add more as they quite honestly pay more vs. the weeklies time for time... but they all have their place.. if you have available margin why wouldn't you make a weekly play if you could... that's just what gives you that little jolt of feeling of accomplishment is to make a play and have it work out as intended.. which is why I said even when I need to pick up something little at the grocery store, my usually method is to wait in the car till I make a play and feel justified to then go pick up that something little... first world problems right? hahahaha this week ( $932 )
Nice going. I use TDA for my IRA. There is persistence to the idea floated by the shorts that Musk will be forced out, and I think it's absurd. I couldn't justify an $8MM (listed) short along with $10MM OTC even with the shares closing near the low for the week. I have a prop bet with a large institutional short who thinks Musk will be forced out of the co. $50K paying 2/1 if Musk is gone by June 1.
Also FWIW, I went in on last Thursday's opening dot shot, ostensibly for the gap fill, but I never took any heat so I let that shit ride. Then, well, Friday's (last week) lottery win.