Price action moved more than 5

2023-12-14

Price action moved more than 50% towards the strike price of $220 Put so I started considering management strategies. Decided to use extra margin to open new short strangle at lower strike prices preemptively to collect more premium at lower risk levels. Will monitor original strangle and close out if price continues to move towards $220 strike price. Will open new strangle for premium if that happens. Maximum stop loss level will be when total losses = total premium collected.

$TSLA 20231215 212.5 PUT$ $TSLA 20231215 250.0 CALL$

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whymustitellyou
2023-12-14
whymustitellyou
Closed the two new positions as price action whipsaw back upwards. Locked in small profit to reduce risk.

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Decided to use extra margin to open new short strangle at lower strike prices preemptively to&nbsp;collect more premium at lower risk levels. Will monitor original strangle and close out if price continues to move towards $220 strike price. Will open new strangle &nbsp;for premium if that happens. Maximum stop loss level will be when total losses = total premium collected.\n<a href=\"https://ttm.financial/OPT/TSLA 20231215 212.5 PUT\">$TSLA 20231215 212.5 PUT$&nbsp;</a><a href=\"https://ttm.financial/OPT/TSLA 20231215 250.0 CALL\">$TSLA 20231215 250.0 CALL$&nbsp;</a>\n<img src=\"https://community-static.tradeup.com/news/74edb6e9050f27196932ba27df5f81dd\" tg-width=\"309\" tg-height=\"533\">\n<img src=\"https://community-static.tradeup.com/news/7321db0ef18f9ff09c352a0547664ae7\" tg-width=\"309\" tg-height=\"533\">\n<img src=\"https://community-static.tradeup.com/news/aaa33a5c4b7411a1dcd77e9e6e181fa0\" tg-width=\"309\" tg-height=\"533\"></body></html>","htmlText":"<html><head></head><body>Price action moved more than 50% towards the strike price of $220 Put so I started considering management strategies. Decided to use extra margin to open new short strangle at lower strike prices preemptively to&nbsp;collect more premium at lower risk levels. Will monitor original strangle and close out if price continues to move towards $220 strike price. Will open new strangle &nbsp;for premium if that happens. Maximum stop loss level will be when total losses = total premium collected.\n<a href=\"https://ttm.financial/OPT/TSLA 20231215 212.5 PUT\">$TSLA 20231215 212.5 PUT$&nbsp;</a><a href=\"https://ttm.financial/OPT/TSLA 20231215 250.0 CALL\">$TSLA 20231215 250.0 CALL$&nbsp;</a>\n<img src=\"https://community-static.tradeup.com/news/74edb6e9050f27196932ba27df5f81dd\" tg-width=\"309\" tg-height=\"533\">\n<img src=\"https://community-static.tradeup.com/news/7321db0ef18f9ff09c352a0547664ae7\" tg-width=\"309\" tg-height=\"533\">\n<img src=\"https://community-static.tradeup.com/news/aaa33a5c4b7411a1dcd77e9e6e181fa0\" tg-width=\"309\" tg-height=\"533\"></body></html>","text":"Price action moved more than 50% towards the strike price of $220 Put so I started considering management strategies. Decided to use extra margin to open new short strangle at lower strike prices preemptively to collect more premium at lower risk levels. Will monitor original strangle and close out if price continues to move towards $220 strike price. Will open new strangle for premium if that happens. 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Locked in small profit to reduce risk.","text":"Closed the two new positions as price action whipsaw back upwards. Locked in small profit to reduce risk.","html":"Closed the two new positions as price action whipsaw back upwards. Locked in small profit to reduce risk.","likeSize":0,"commentSize":0,"subComments":[],"verified":10,"allocateAmount":0,"commentType":"valid","coins":0,"score":0}],"isCommentEnd":false,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/251668424515640"}