Yeah but we both know, there was no imbedded edge in that trade. There was lots of luck there. I don’t think it’s repeatable.
Really wanted TSLA to test the 900's before selling anything, but no luck today. Today being Friday and high chance market will rebound over the weekend, decided to get what I could and sold 950 weekly put:
I had a “tough” decision to make. Below were the choices : Sell 7DTE 990 put for about 40 Sell 14DTE 950 put for about 37 Sell 7DTE 950 put for about 25 The first two would guarantee that this trade would be break even and still keep that lottery ticket. Still not sure if I made the right choice here (getting a bit greedy here)
Was I glad I didn't choose $990 earlier. TSLA hit $950 for a moment yesterday which was quite a surprise. Closed the short leg early. Hopefully, will get a chance to re-short. Booked PnL: ~$6K DTE on long leg: 45
I couldn't, because I didn't leave myself any dry powder after my entries two weeks ago. It's been a long ride down, and only today at EOD are two positions barely poking into profit. The life of a swing trader.