pumpkin pie lol
Iron Condor on TSLA
- Thread starter Pekelo
- Start date
6 weeks later, and the price is still around $354, this is probably the longest range zig-zag in Tesla's history. I started this thread 7 months ago...
You are right TSLA is caught in a range sort of between 310-380. I havent done your IC but made directional bets in the period any time it was below 320$ and bailing around the 360$ mark - its been consistently profitable.
Only 3 weeks to go and price is back at $351, position is down to $1.1, more than 70% ROI.
Wow. Three months to earn 1percent on notional and two times where things could have gotten pretty hairy.
Da fuck you talking about? Who cares about notional? It is like shorting a stock at 41 and the stock is down to 11. How is that 1% for you? The amount is really up to you how much you invest in the position, how many contracts you use. That is why I used ROI.
ROP (return on premium) is stupid when looking at the return for shorting options. If your options were all of a sudden worth 50 dollars would you consider that a 1000percent loss? If you shorted the gut strangle instead (which would have been like 104 dollars would you call that a 2percent return?)
If you shorted a stock at 41 and it went to 11 you would have made 70percent. If you shorted an ATM call instead, was your return better despite the same downside risks?