Rolling our TSLA put contract to a higher strike price.
TSLA has rallied to it’s 200-day moving average which could prove to be a key resistance area.
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 already in play
- Selling (to close) the TSLA August 19th $890 Puts
- Buying (to open) the TSLA August 19th $980 Puts
- Limit: DEBIT of $55.00 or less
- The new position will represent roughly 8.3% of our Spec Model capital
- 9:54 Executed
- Sold TSLA August 19th $890 Puts @ $29.79
- Bot TSLA August 19th $980 Puts @ $76.09
- Net Debit: $46.30