Trade Exit – TSLA Bear Call Spread

Stock / Symbol: Tesla / TSLA
Option Strategy: Bear Call Spread
Trade entry date / price: 22 Jan 2020 / $570
Price at this post: $641.50

Reasoning: With our short call well ITM, we need to close the position today.

Trade Exit Details:

BTC 1 TSLA 31Jan20 600 call
STC 1 TSLA 31Jan20 602.50 call

For a max net debit of $2.50 per contract (day order, limit order). I was filled at $2.50

Analysis:

Max Risk: $165
Max Reward: $85 or 51% with TSLA trading under $600 by Jan 31st
Profit Range: TSLA at/under $600 by Jan 31st
Estimated Commission (round trip): $6
Realized Profit / Loss: ($165) or 100%

Positive Theta

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