sold (open) -10 Feb 2016 $123 puts at $0.35
Why did I place this trade?
- stochastics in oversold region
- TSLA just reported earnings (so no more surprises)
- implied volatility still high (so high premiums)
- 3-day weekend (so 3 days of theta time decay ... I LOVE 3-day weekends)
- 94% probability of success (high)
Tuesday 2/16/2016 (12:32:19 pm, PT)
buy back all 10 puts at $0.03
This is absolutely amazing. My trade filled at $0.03 even though the "mid" price was $0.14.
I figured the market makers must have wanted to make $30 instead of nothing. Good for them for taking my bid!
PROFIT: $320 (in TWO trading days!)
SELL PUT OPTIONS when the IV is inflated.
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