Stock / Symbol: Tesla Motors / TSLA
Option Strategy: double calendar
Price at trade entry: $225.75
Price at this adjustment: $231
Current Position:
long 1 TSLA AugWk2 245 call
short -1 TSLA AugWk1 245 call
long 1 TSLA AugWk2 205 put
short -1 TSLA AugWk1 205 put
Reasoning: Not looking like we'll get enough of a move up (or down) for this trade on TSLA to pan out. Going to close out the put calendar now. Will likely close out the call calendar later today.
Trade Details:
STC 1 TSLA AugWk2 205 put
BTC -1 TSLA AugWk1 205 put
for a min net credit of $0.28 per contract (day order, limit order). The current mid is 0.32. Try for the mid -0.01.
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