Selling to OPEN TSLA $345 puts for $2.65
10% position, if exercised
Man, today was a whipsaw! I sold some puts when I thought the lows were in. Bought to close those puts after an intraday rally....and now am back to selling more puts. Hopefully at lows of some sort!
Rather than get cute and jam a humongous, 20% put position in a single name, I'll keep it to 10% and pick a strike price in the middle of the last set of trades.
When I sell puts, I try to make about 0.5% or more in a week AND not get hit. Sometimes, the strike price is too close to the market price for my taste. Sometimes I can get a ton of space for the stock to move. This is a middle ground, but should be fine - especially after TSLA has dumped hard for 2 days in a row and down nearly 40% from the peak.
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