This post is restricted to paying members. To follow are specific new trade details:
Stock / Symbol: TSLA
Strategy: Vertical Put Spread
Trade entry date / price: 09 Jul 2020 / $1376
Price at this post: $1440
Update / Reasoning: Entering in our closing order now in case our target price ($1340) is only briefly touched before TSLA rebounds higher. The current Greeks are: -1.6 Delta, -3.9 Theta and 1.7 Vega.
Trade Exit Details:
STC 1 TSLA 7Aug20 1350 put
BTC 1 TSLA 7Aug20 1340 put
For a min net credit of $5.00 per contract (GTC order, limit order). The mid is currently at a credit of $3.30.
Analysis:
Max Risk: $445
Max Reward: $560 or 125% with TSLA at/under $1337 by Aug 7th
Profit Range: TSLA under $1340 by Aug 7th
Estimated Commission (round trip): $9
Expected Profit / Loss upon fill: $75 or 17% (pre-commission)
