Rolling our TSLA put contract to a higher strike price.
After breaking down sharply this month, TSLA has bounced back toward the level where it initially found support. This looks like a short-term rebound and breakdown stocks often re-test the price point where the breakdown began.
Rolling our put contract lets us buy more intrinsic value at a discount, and sets us up for better profits when TSLA trades lower.
- Selling (to close) the TSLA March 18th $900 Put
- Buying (to open) the TSLA March 18th $950 Put
- Limit: DEBIT of $35.00 or less
- The new position will represent roughly 8.7% of our Spec Model capital
~~~~~~~~ - 12:27 Executed
- Sold TSLA March 18th $900 Put @ $69.31
- Bot TSLA March 18th $950 Put @ $103.86
- Net Debit: $34.55