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Hi Team

I just got a fill on Tesla t $270 - I had a view to 271 but IADSS triggered a buy at $270

The trade added 4% to my Tesla Position.

I sold the Puts TSLA JAN 17 2025 260.0 Put

I bought the TSLA JAN 17 2025 250.0 Call

Net Debit $31.

My Breakeven on this trade is for Tesla to hit $280 by Jan 2025 (no brainer).

If Tesla falls I am on the hook for the 260 Put.

NOTE: There is about $13,000 of margin required for each put I sold

NOTE: My goals are not your goals and this is not financial advice.  My promise to this community is to share everything I do openly and transparently and in real time.


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Comments

Anonymous

No buy signal for me yet on the 4hr chart. Got out at $293.72 after being long at $279.08. I have another trade from $179.43 but that one is a long term trade (on the daily chart) and there is no sell signal yet.

Anonymous

Love these updates. Thanks a bunch. BTW for those interested, ETRADE has a great options paper trading platform. I've been inspired to run simulations every day, and I am learning a lot.

Anonymous

Added a little more today and will see what tomorrow brings

Anonymous

just before close, it looks like I can sell the Puts TSLA JAN 17 2025 250 Put and buy the TSLA JAN 17 2025 250.0 Call for $30 debit. I think TSLA may fall in the next couple weeks. What do you think if I sell a Jan 2025 $150 put and buy $230 Sept 2023 put for a net credit of $6? Planning to buy the Jan 2025 $150 call when TSLA drop below $200 and by closing the Sept 2023 $230 put.

Anonymous

Thanks James! How big is your TSLA bag now as a percentage of your equity portfolio?

Anonymous

I got a fill at 265.00 at the Gap fill. i did not Know about the trade until 3:30 when i had time to see the email. Next Gap is @ $237 then $148 area. Any thoughts of sell in may an Go away! maybe more down side ? over the Months

Anonymous

I didn’t know about the Nasdaq rebalance until today. Nasdaq shed 1.1% of its Tesla holdings

Anonymous

it would be nice if it dropped down to $200 in September but maybe wishful thinking

Anonymous

James, what is the risk management software you are using to look at your Greeks and pnl please ?

Anonymous

The 50 day SMA is at $235 on the Daily. The Next gap is At $237. I will add more at $237.00area I do not own any TSLA.

Anonymous

Yesterday is my first ever buy . FMO maybe . a dip is a dip. I have more dry powder for the $237 area

Anonymous

I'm ok holding out until September for the wreckening ;-)

Anonymous

I would like a tutorial/walk-through video on this.

Anonymous

i followed this trade ... my net debit was ~27. I'm up 12% already. James, how long are you planning on keeping one and/or both of these options open?

Anonymous

Thank you for sharing James.