Selling our TSLA put contracts to manage risk.
Shares of TSLA have begun to rebound from the stock’s 200-day average. We’re closing our put contracts which still have a decent amount of value.
TSLA is still very expensive relative to earnings. And the stock should be a good short candidate for months to come. But with markets bouncing from an oversold level, the TSLA rebound could give us a much more attractive entry point.
Meanwhile, our in-the-money put strategy is helping to mange our risk as the put contracts still carry value even with TSLA moving above our strike price.
- Selling (to close) our TSLA February 18th $880 Put
- Limit $40.00 or more
- 10:33 Executed
- Sold TSLA Feb 18th $880 put @ $41.00