September 15, 2014 at 10:25 am #2395
Fugly day for TSLA. We’re sitting at a -4.4 standard deviation to the downside… this kind of action hasn’t happened in quite some time.
I do want to buy this dip, but respect the fact that it’s the first down day and so it’s a touch early.
Here’s the trade:
Sell to open TSLA Oct 235/230 bull put spread for 0.90 HALF SIZE
Add at 1.30
If filled at 1.30 put GTC order to buy back half at 0.90 (this is done to work a better basis).
Put an order to close at 0.45 then reopen at 0.90
If we hit 235 roll down and out to November.September 16, 2014 at 8:48 am #2403
Added at 1.30 yesterday, closing that 2nd half at 0.90 today.
If the spread goes for 1.45 I will reenter that 2nd half.September 18, 2014 at 10:28 am #2402
Closing out first half of the spread at 0.53.
Where does that leave us?
The first round was sold at .90, closed out today at .53 for a gain of 37 per spread.
The second round was sold at 1.30, closed out 2 days ago for .90 for a gain of 40 per spread
The reason I’m bailing here is because I’ve realized (almost) 50% profits and the trade still has 30 days to expriation… and TSLA could head lower here… so I’m willing to reenter.
If the spread goes for .90 I will enter in another round, and then if it gets to 1.45 I will add.September 22, 2014 at 10:19 am #2401
Nice gap and drive lower, so I am reopening the spread.
Sell to open HALF SIZE TSLA Oct 235/230 bull put spread for 1.40.
Buy back at .70.
If TSLA continues to sell off, I will ADD to the trade but with DIFFERENT STRIKES
Sell to open TSLA Oct 225/220 bull put spread for 1.00, with a bidu to close at .50.October 3, 2014 at 8:37 am #2400
Good news out of TSLA on some announcement of a new car. Or something. That’s leading to a gap up and an opportunity to bail again.
Buy to close TSLA Oct 225/220 bull put spread for 0.50 or better
Buy to close TSLA Oct 235/230 bull put spread at 0.80 — I was waiting on .70 but given how this market’s trading I’m going to take profits a little faster.October 10, 2014 at 8:44 am #2399
TSLA back near support, so going to re-add some spreads here.
Again, this is half size, with intent to add.
Sell to open TSLA Nov 210/205 bull put spread for .95
ADD at 1.45
BUY TO CLOSE at 0.45October 13, 2014 at 9:55 am #2398
ADD to the trade:
Sell to open TSLA Nov 210/205 bull put spread at 1.60
BUY TO COVER at 1.20October 17, 2014 at 9:08 am #2397
BUY TO COVER the second half at 1.20
We still have the first round at a .95 basis.
I will RE-ADD the second round if the spread gets up to 1.75.October 28, 2014 at 1:34 pm #2396
BUY TO COVER the first half at 0.70
The spread is currently sitting at 0.75 but I want to try and get out as TSLA has earnings coming up, and the implied volatility on this will rise as we come into earnings.
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