Stock / Symbol: Tesla Motors / TSLA
Option Strategy: double calendar
Price at trade entry: $225.75
Price at trade exit: $233.00
Remaining Position:
long 1 TSLA AugWk2 245 call
short -1 TSLA AugWk1 245 call
Reasoning: With Theta negative (at -11), going to close out the remaining call calendar portion of this trade.
Closing Trade Details:
STC 1 TSLA AugWk2 245 call
BTC -1 TSLA AugWk1 245 call
for a min net credit of $1.25 per contract (day order, limit order). The current mid is 1.30. Try for the mid -0.02
Max Risk: $220 (in position at net debit of $2.20 per contract)
Max Reward: $270 or 122% (at current volatility level) at either $205 or $245 by Aug 1
Profit Range: $195 to $215 & $237 to $252 by Aug 1
Suggested Downside stop: NA
Suggested Upside stop: NA
Realized Profit / Loss upon close: ($62)
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