Rolling our TSLA put contract to a higher strike price.
TSLA has rallied to a key level of resistance from earlier in the year. This would be a natural place for the stock to reverse and start trading lower again.
Rolling our put contract lets us buy more intrinsic value at a discount, and sets us up for better profits when TSLA trades lower. Plus, having a bearish position for TSLA helps to balance our exposure with plenty of bullish positions in play.
- Selling (to close) the TSLA April 14th $840 Put
- Buying (to open) the TSLA April 14th $1,000 Put
- Limit: DEBIT of $82.00 or less
- The new position will represent roughly 6.4% of our Spec Model capital
- 10:14 Executed
- Sold TSLA Apr 14th $840 Put @ $25.40
- Bot TSLA Apr 14th $1,000 Put @ $104.90
- Net Debit: $79.50