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Tesla Stock Price Keeps Running Away On Me by scaredycatguide

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· @scaredycatguide ·
$7.87
Tesla Stock Price Keeps Running Away On Me
A week ago I was blessed to have timed an new PMCC position on Tesla (TSLA) right before it rallied 25 points.

This was good news, for the most part.

#### My Position:

Long the March 2024 Leaps, strike price of 215
Short the August 25th 227.50s.

Yesterday, I needed to roll out my position as the 227.50s were expiring.

I was able to roll out to the next week, Sept 1st and up to the 230s.

This did two things.  
+ First it gave me a net credit of 1.30 per contract into my acct.  
+ Second it put me back to delta positive.  As in my 215 Leap earns more as the stock price goes up than the 230 does.

#### Not so fast my friend

Even though it looks like Tesla basically chopped back and forth the last few days; today's move higher to close at 238.59 has already, within one day of rolling out put me at a negative delta.

Now the 230 is earning more for each point Tesla goes higher than my Leap option is.  Oy vey!

I will be keeping an eye on it next week.  Really is price takes out last Tuesday's high of 240.85 I'll likely have to book the profit as price has a clear path to 250 at that point.

https://images.hive.blog/DQmXdBZZS48Bs3P4pVCV9S7ikKmCFDv9KLTH2Uvj2LzCZuS/image.png 

Posted Using [LeoFinance Alpha](https://leofinance.io/@scaredycatguide/tesla-stock-price-keeps-running-away-on-me)
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vote details (157)
@borsengelaber ·
Yeah, we saw a nice rebound this week above the the $200 support. If the stock begins to run, it does so rather fast. 😅
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