I have been waiting for Tesla (TSLA) to hit its 100 Day Moving Average after moving down for over a month. It did come down to that mark and yesterday I bought 1 Call Option. Today, being up $20, I feel that the stock is reversing and wants to move up. I just bought another Call Option. With the stock at $357.25 I bought 1 TSLA 8/15/25 $350 Call. This position has a Delta of .62 on my entry.
Buy to Open 1 TSLA 8/15/25 $350.00 C @ $64.80
Going out to August gives me plenty of time before expiration in case I entered a little early. Because of all the Time Value I bought the premium was a hefty $64.80. Believe it or not, I’m looking to double my money. I feel this can happen because I feel Tesla has been beaten down and can make a big move.
Successful trading,
Steve
The Options Coach