Shared by
smash
No borrows initially on TSLA. Kept checking as it broke back over 300 figured there would be plenty of shorts covering. got 1k locked in. got short at the exhaustion. Also bought the puts at the same time. had 30 setting out on the bid but only got 8 filled at 9. wanted 50 total but 28 is better than zero. The thesis was that Tesla needs to produce some actual earnings to continue the way it has and it was obvious they were not there yet. Then Elon's comments on the conference call were icing on the cake. Thank you Elon. All out morning after earnings as it looked to be bottoming out again at the 280 area.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2018-05-02 15:01:00 | TSLA | sell | $304.630 | short |
| 2018-05-02 15:01:00 | MAY04 18 300 PUT | buy | $9.500 | long |
| 2018-05-02 15:02:00 | MAY04 18 300 PUT | buy | $9.700 | long |
| 2018-05-02 15:10:00 | MAY04 18 300 PUT | buy | $9.000 | long |
| 2018-05-03 10:08:00 | MAY04 18 300 PUT | sell | $18.150 | 0 |
| 2018-05-03 10:09:00 | TSLA | buy | $282.490 | 0 |
Comments
smash
Set orders out and let it come to you. Or market buy into panic works to. Trade a lot like OTC stocks
alhadi249
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Hey how to you trade option, with huge spread?