I closed my Tesla position about 5 minutes back when it dropped to $115.50. Which is quite unfortunate because in the next three minutes it ended up popping another 1.5% and setting a new high...haha. But I would rather not be glued to my screen and test my nerves since with Ben speaking right now, things can easily flip.
For those interested in the actual numbers. Yesterday I purchased the Tesla puts for $2.74 each, and the Tesla calls for $2.36 each. Today I sold the puts at $1.39 and the calls at $5.70. I had the same amount of contracts on both sides.
Earlier I said a 30% loss on the puts, I stand corrected. It was actually a 42% loss. On the bright side a 100% on my calls. So all is gravy.
There is a serious resistance level for Tesla at $118 and finally $120. From this point, I too much of a limited upside intraday and didn't want to be greedy, so I felt that locking in the gains was the best route.
In terms of Apple..one of the weaker performing stocks on my watchlist. It continues to battle the 50 & 100 dma at the same level..would love to see it finally pop.
For those interested in the actual numbers. Yesterday I purchased the Tesla puts for $2.74 each, and the Tesla calls for $2.36 each. Today I sold the puts at $1.39 and the calls at $5.70. I had the same amount of contracts on both sides.
Earlier I said a 30% loss on the puts, I stand corrected. It was actually a 42% loss. On the bright side a 100% on my calls. So all is gravy.
There is a serious resistance level for Tesla at $118 and finally $120. From this point, I too much of a limited upside intraday and didn't want to be greedy, so I felt that locking in the gains was the best route.
In terms of Apple..one of the weaker performing stocks on my watchlist. It continues to battle the 50 & 100 dma at the same level..would love to see it finally pop.