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Hey Team

NFA

It was a hectic day for me as I finally managed to purchase Tesla stock at a price of $163, after waiting all morning for it to hit bottom through IADSS. However, there is still a 20% chance that it may not be the actual bottom. Since the puts were quite costly, I decided to sell some and utilized the funds to increase my $150 Call Position.

I sold the Jun 2024 $150 Puts and bought the June $150 calls for a net debit of $20 - my breakeven is for TESLA to be at $170 on or before June 2024 

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Comments

Anonymous

Amazing timing @163. Well done. I cant deploy until Monday... man I hope I dont miss it

Anonymous

I think we could go lower still, incdcies moving up and TSLA flat last few hours, any reversal on them it will tank. I am hoping to buy more at 160.50 and low to mid 150`s

Anonymous

Filled at irresistible 163,2😎

Anonymous

So do you do buy to open or buy to close at $150 call end at June???

Anonymous

Thanks for the updates James

Anonymous

I bought more Tesla, what do you see as a good entry point for Cleanspark

Anonymous

Put my money where my mouth is. counting on you James...HA NFA. Mine is saying net debit of almost $47 for that call

Anonymous

Hi James, is there a reason for not using the Trend model with Confluence & Mean Reversion?

Anonymous

Please, please, please. Study the basics of options BEFORE trying to understand his more advanced strategies. https://www.tastylive.com/shows/options-crash-course

Anonymous

Changed my mind. Concerned about where we could retrace late summer.

Anonymous

He is selling the PUT at the same time in one trade to offset the cost. It’s a 100 delta synthetic long. This just represents buying stock at todays price, but using high leverage. Putting up 20% of the cost to control 100 shares. It’s like using 4x leverage

Anonymous

I love Tesla but it doesn’t matter, cannot piss against the wind gotta go with the herd, if everyone is shorting gotta short with them 😂 it broke through $163, it is falling knife territory, recession, war, “may go away” just had earnings. Where is the short term catalyst? There will be a capitulation like it was at $100, gotta load up then, gotta be patient to let this play out, I burnt myself last time by being trigger happy and buying at $220 when it dropped from $300. We all know what happened after that 😳

Anonymous

I nibbled at $164, but didnt get all 3 so im waiting for the "big 3" then i will go in hard. Same for a few other names today as well like Mstr (As an arb) and cleanspark hit a sell so might do a short position on that :) I alreay covered Nvidia at a short at $178.

Anonymous

Wow sounds like you are on top of the IA tools! What are you using? Has it been a lot to learn? Does it take much time? Results been good?

Anonymous

Got some at $161.77. Gotta love it. Hope it goes lower so I can get more!

Anonymous

James , or anyone in the know, , say it goes up a fair amount, do you ever close the put side and keep the call?

Anonymous

You add a 3rd leg instead of closing the put side of the LEAP.

Anonymous

yes thanks, yes, selling a covered call at a relative top to hedge... yeah I knew about that one.. just didn't know if there was ever a case where he might sell to close the put the was in the covered call. I don't see the why not if the stock has risen enough and enough time decay could happen that you could lock in the gains on that part of it