Option Strategies: TSLA& .SPX

Selling For Premium

Hello everyone! Today i want to share some option strategies with you!

1.

When everyone was saying $Tesla Motors(TSLA)$ is going to $500 while it was trading around $430, we shorted it by selling naked calls. Gonna continue holding this position until TSLA finds a bottom. 🤑

Now, naked calls are risky and definitely not for inexperienced #Optionselling traders. Naked calls can be a great tool in the toolbelt for downtrending and/or flat markets as well as individual tickers that have run up too much on hype/fluff and are overdue for retraction.

That said, all is not a-okay. Have $350 strike short puts expiring this Friday that will most likely have to be rolled to a lower strike if TSLA doesn't make a comeback. Debated rolling it today, but gonna roll the dice and see what happens post CPI. Will take the realized loss and roll for net credit if need be. 🤨

Image

2.

0DTE $S&P 500(.SPX)$ gamma looks concentrated more to the put side for today, with 6030 and 6025 being the largest stacks.

6000 is still a gamma level to watch for support. 6100 for resistance.

Sold an Iron Condor, 0DTE, 5970/5960 put credit spread & 6100/6110 call credit spread.

Image

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Today i want to share some option strategies with you!</p><p></p><p>1.</p><p>When everyone was saying <a data-mention-id=\"TSLA\" class=\"teditor-mention\" data-mention-name=\"Tesla Motors\" href=\"https://ttm.financial/S/TSLA\">$Tesla Motors(TSLA)$</a>  is going to $500 while it was trading around $430, we shorted it by selling naked calls. Gonna continue holding this position until TSLA finds a bottom. 🤑</p><p>Now, naked calls are risky and definitely not for inexperienced #Optionselling traders. Naked calls can be a great tool in the toolbelt for downtrending and/or flat markets as well as individual tickers that have run up too much on hype/fluff and are overdue for retraction.</p><p>That said, all is not a-okay. Have $350 strike short puts expiring this Friday that will most likely have to be rolled to a lower strike if TSLA doesn't make a comeback. Debated rolling it today, but gonna roll the dice and see what happens post CPI. Will take the realized loss and roll for net credit if need be. 🤨</p><p class=\"t-img-caption\"><img alt=\"Image\" title=\"Image\" src=\"https://community-static.tradeup.com/news/75178d9d5dee1238e07101b41cd60d65\" tg-width=\"1533\" tg-height=\"343\"><span>Image</span></p><p></p><p>2.</p><p>0DTE <a data-mention-id=\".SPX\" class=\"teditor-mention\" data-mention-name=\"S&amp;P 500\" href=\"https://ttm.financial/S/.SPX\">$S&amp;P 500(.SPX)$</a>  gamma looks concentrated more to the put side for today, with 6030 and 6025 being the largest stacks.</p><p>6000 is still a gamma level to watch for support. 6100 for resistance.</p><p>Sold an Iron Condor, 0DTE, 5970/5960 put credit spread &amp; 6100/6110 call credit spread.</p><p class=\"t-img-caption\"><img alt=\"Image\" title=\"Image\" src=\"https://community-static.tradeup.com/news/3792a9cd14d97b41e057020beabb573e\" tg-width=\"2048\" tg-height=\"1500\"><span>Image</span></p><p></p><p><em>Follow me to learn more about analysis!!</em></p></body></html>","htmlText":"<html><head></head><body><p>Hello everyone! Today i want to share some option strategies with you!</p><p></p><p>1.</p><p>When everyone was saying <a data-mention-id=\"TSLA\" class=\"teditor-mention\" data-mention-name=\"Tesla Motors\" href=\"https://ttm.financial/S/TSLA\">$Tesla Motors(TSLA)$</a>  is going to $500 while it was trading around $430, we shorted it by selling naked calls. Gonna continue holding this position until TSLA finds a bottom. 🤑</p><p>Now, naked calls are risky and definitely not for inexperienced #Optionselling traders. Naked calls can be a great tool in the toolbelt for downtrending and/or flat markets as well as individual tickers that have run up too much on hype/fluff and are overdue for retraction.</p><p>That said, all is not a-okay. Have $350 strike short puts expiring this Friday that will most likely have to be rolled to a lower strike if TSLA doesn't make a comeback. Debated rolling it today, but gonna roll the dice and see what happens post CPI. Will take the realized loss and roll for net credit if need be. 🤨</p><p class=\"t-img-caption\"><img alt=\"Image\" title=\"Image\" src=\"https://community-static.tradeup.com/news/75178d9d5dee1238e07101b41cd60d65\" tg-width=\"1533\" tg-height=\"343\"><span>Image</span></p><p></p><p>2.</p><p>0DTE <a data-mention-id=\".SPX\" class=\"teditor-mention\" data-mention-name=\"S&amp;P 500\" href=\"https://ttm.financial/S/.SPX\">$S&amp;P 500(.SPX)$</a>  gamma looks concentrated more to the put side for today, with 6030 and 6025 being the largest stacks.</p><p>6000 is still a gamma level to watch for support. 6100 for resistance.</p><p>Sold an Iron Condor, 0DTE, 5970/5960 put credit spread &amp; 6100/6110 call credit spread.</p><p class=\"t-img-caption\"><img alt=\"Image\" title=\"Image\" src=\"https://community-static.tradeup.com/news/3792a9cd14d97b41e057020beabb573e\" tg-width=\"2048\" tg-height=\"1500\"><span>Image</span></p><p></p><p><em>Follow me to learn more about analysis!!</em></p></body></html>","text":"Hello everyone! Today i want to share some option strategies with you! 1. When everyone was saying $Tesla Motors(TSLA)$ is going to $500 while it was trading around $430, we shorted it by selling naked calls. Gonna continue holding this position until TSLA finds a bottom. 🤑 Now, naked calls are risky and definitely not for inexperienced #Optionselling traders. Naked calls can be a great tool in the toolbelt for downtrending and/or flat markets as well as individual tickers that have run up too much on hype/fluff and are overdue for retraction. That said, all is not a-okay. Have $350 strike short puts expiring this Friday that will most likely have to be rolled to a lower strike if TSLA doesn't make a comeback. Debated rolling it today, but gonna roll the dice and see what happens post CPI. Will take the realized loss and roll for net credit if need be. 🤨 Image 2. 0DTE $S&P 500(.SPX)$ gamma looks concentrated more to the put side for today, with 6030 and 6025 being the largest stacks. 6000 is still a gamma level to watch for support. 6100 for resistance. Sold an Iron Condor, 0DTE, 5970/5960 put credit spread & 6100/6110 call credit spread. 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