I opened $TSLA 20240503 135.0 PUT$  ,TSLA: Sold covered call on TSLA with strike at $135 and expiring in 3rd May which is 15 days away. Premium collection will be 2% during this period. The stock had been coming down for a long way and at oversold regions. It is also down today over analyst downgrade so took the opportunity on the bearish outlook to sell this put. The stock is currently reaching support level based on previous low in Apr 2023, oversold RSI with positive divergence and potential gap fill support down to $145. Selling this put at $135 which is 10% lower should provide ample buffer for movement. Risk is earning on 23rd Apr so let’s see which way this stock goes.
TSLA PUT
04-19 01:24
US20240503 135.0
SidePriceRealized P&L
Sell
Open
2.75--
Closed
Tesla Motors
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  • sexymint
    ·04-19
    TOP
    Sold call and sold put at same strike price? You mean short straddle?
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    • Terra Incognita
      Oh no! I made a typo mistake. It was meant as sold a cash secured put and yet i wrote in as covered call. Thanks for pointing out the discrepancies.
      04-20
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  • buythedip
    ·04-19
    TOP
    Wishing you the best on this trade!
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  • kookiz
    ·04-19
    TOP

    TSLA will drop to 100

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    • Terra Incognita
      Thanks! Yes that’s always a possibility
      04-20
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  • ZEROHERO
    ·04-19
    Hi, just sent you a msg
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