I haven't been in TSLA for a few weeks as I have been babysitting a large synthetic SPX call and VX long. I am out of that now so I will focus more on single name positions. I would diagonalize it; go into Jan vol and short wings around it.
Hey Dest, Would you please help to convert this trade to a fly? (I am using your UCO example that you posted months ago). Buy 50 shares XYZ at $52 Short 1 call XYZ $51 , credit collect $4.0 The reason because the account is an IRA and can not short a naked call.
Sure, but realize you're be long a straddled backspread which behaves as a fly (in this example) with extra wing prot. Say you buy the 45/55 outside wings for 3.5. You would own the fly for a risk of $0.7 (4.3 cr). Short the call for 4.9, implied put is 2.9, less wings at 3.5. I am treating this as a one lot bc the wing purchase is double what is needed if you're trading a mini straddle. You're in a half straddle + one lot wings, or straddled long backspreads. It's best to go further out on wings if trading the mini to reduce the wing impact on the mini's credit.
I discovered this little beast when reading a newspaper article about scout bikes for the military.... Thought to post it here as we were discussing e-bikes a while back. https://stealthelectricbikes.com/stealth-b-52/