Score Big In October 2021 - $16543 Profit - Account up 36 6% YTD

[winstonwee]

Nice month. You say thanks to TSLA; how many positions are you holding?

I am currently holding 30 shares of TSLA at a average price of $788
I bought tsla over a period of 1 year starting from last year december. And everytime I buy it is at the high. My last purchase was on 19th October buying 10 shares at $864 (man it was really at the high at the time of trigger). At 1000 level I do not have the courage to add on so instead I add a leaps vertical spread in



detail of the leaps vertical spread
https://www.elitetrader.com/et/threads/a-100-return-strategy-in-tsla-live-trade.362455/

 

[Overnight]

I am currently holding 30 shares of TSLA at a average price of $788

Just to get to the basics...You have two options open.

You sold a ITM call for Jan 19 2024 with a 1000 strike price, and bought same expiry ITM call at 800 strike price?

 

[winstonwee]

Just to get to the basics...You have two options open.

You sold a ITM call for Jan 19 2024 with a 1000 strike price, and bought same expiry ITM call at 800 strike price?

yes that is correct so net debit I pay is 94.16 ($9416)
if tsla is above 1000 on expiry I will profit 200 ($20000) from the spread minus away the debit I will profit about $10500 if tsla is above 1000 on Jan 2024 so I could have make 100% if that happen

 

[Overnight]

yes that is correct so net debit I pay is 94.16 ($9416)
if tsla is above 1000 on expiry I will profit 200 ($20000) from the spread minus away the debit I will profit about $10500 if tsla is above 1000 on Jan 2024 so I could have make 100% if that happen

I am total option n00b and have to reaffirm my understanding by asking these questions. I hope one day I can use options to better work the futures markets. Talk about a slow burn.

Anyways, thanks for the clarification.