jay_beckner

I play poker and trade options, seeking edges from study, reflection and analytics.

#019 TSLA Puts Closed Loss

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Trade Details: Sold to close (stopped out) 1 Jun 16th Tesla Inc (NASDAQ:TSLA) 285 put for $3.80 (in at $4.90 for 1 day), $374.49 total proceeds. The trade executed at 09:43:14 when the stock surged at the open.

Return: (24.4%) after commissions

Note: Not a great first trade back, but I'm happy with the exit planning/discipline. If I have to point to a mistake, it was focusing too much on the bearish elements of the daily chart and giving less weight to the shorter-term bullish technicals of the 2-hour chart.

TSLA 2-hour (interval) chart showing bullishness.

TSLA 2-hour (interval) chart showing bullishness.

Recall my recent strategy blog post where I discussed using the daily charted flanked by the 2-hour and weekly charts for support - the harmony across each chart interval just wasn't there.

Also, I missed trades on CELG and TSLA last week because I am strategically opening trades in the last hour of the day. This new tactic, that I think has a lot of merit, may take some getting used to with respect to trade selection.

Meanwhile, the JPM trade call that I passed on yesterday for the TSLA put is acting beautifully! #itfigures

Status: $500 account value after $121 deposit today, ($477.50) YTD loss

#020 TSLA Calls

#019 TSLA Puts