Selling Swing: sold TSLA 270 calls at 2.15-2.00 area at ope

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MMASSASSIN
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Selling Swing: sold TSLA 270 calls at 2.15-2.00 area at ope

Post by MMASSASSIN »

Selling Swing: sold TSLA 270 calls at 2.15-2.00 area at open and here that we entered into at .35 area yesterday. we had a 265 267.50 270 cB call butterfly with a 275 kicker, now we have a 265 267.50 275 cB call butterfly where there is a credit risk. 270 should be a strong magnet and would renter the long leg if she fell back to .25-.50 or if TSLA showed continuation strength. Remember we originally exited this 270 call position at .45 area when it was the short body so we have a lot of leeway now. Big smiles so far on TSLA where a final magnet of 270 will now bring us above max profit, and a final magnet of pullback to 267 fib level brings us strongly above max profit due to the additional credit gained.

This trade is one part of a larger strategy so please look back at Previous posts to see the whole picture. AND IF YOU ARE NEW, PAPER TRADE FOR AT LEAST A FEW MONTHS because this is ADVANCED OPTIONS TRADING !!
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