This sounds more accurate.
Dest's TSLA trade
- Thread starter nooby_mcnoob
- Start date
This sounds more accurate.
Terminal PNL at 250 was $1.9MM. Obviously the result if a pin to 250 at expiration, but you're going to have to roll the dice over the weekend or pay $2 to cover on LTD Friday. So plausibly the best case was $1.75MM.
The straddle was the right play at the time--we did go higher and the vol did drop. There were incremental gains on the synthetic straddle as I was not inclined to hold that size beyond 243-244. The straddle mark was good for another $100K. That structure was sound. The ensuing fly was stupid.
It's insanity to think that I am going to lie about any/all of these moving parts. My first two posts in this thread, and to noob's email response, were purely from memory. Who's going to be able to keep BS straight? Does anyone truly believe that I structure positions when I see size print on the tape?
You can disagree with the choices made (structuring over simply covering the long) but you look the fool attempting to deny the call.
The straddle was the right play at the time--we did go higher and the vol did drop. There were incremental gains on the synthetic straddle as I was not inclined to hold that size beyond 243-244. The straddle mark was good for another $100K. That structure was sound. The ensuing fly was stupid.
It's insanity to think that I am going to lie about any/all of these moving parts. My first two posts in this thread, and to noob's email response, were purely from memory. Who's going to be able to keep BS straight? Does anyone truly believe that I structure positions when I see size print on the tape?
You can disagree with the choices made (structuring over simply covering the long) but you look the fool attempting to deny the call.
Is it just me or are there like 4 different interpetations of the same trade including Dest's lol.
Dest, just post your actual trades so we (me) can learn.
Edit: oh he did nevermind.
Thanks. The other guy confused me as well so I thought you were long from $270.
lol no. I have made more in this name short than long. My first trade in TSLA in 2019 was short shares from a DCA of 282. I converted that position (still have it) to a reversal.
Short 30K shares from 282 on a three day swing trade. The shares gapped lower. Tax arb via the reversal in buying the synthetic long from 258 (IIRC).
Whatever. Yeah, I like to talk my book. TSLA was nice but my NDX and SPX expiration pin (cash settled!) was a much bigger win.
https://www.elitetrader.com/et/threads/tsla.293661/page-223#post-4848915
It's (mostly) all there. Nothing to hide.
It's (mostly) all there. Nothing to hide.
i could have explained but i do not know Greek........i think he is good and he knows his stuff imo
there is no applause button but .....i applaud you
I think he just uses terminology at a pace that you only understand if you have that level of experience. So I read a lot of it and try to follow along. Perhaps by osmosis. I have been able to trade out of losing positions thanks to what I have read on his posts. It's fun.