While the Diary of a Mad Hedge Fund Trader focuses on investment over a one week to the six-month time frame, Mad Day Trader, provided by Bill Davis, will exploit money-making opportunities over a brief ten minute to three-day window. It is ideally suited for day traders, but can also be used by long-term investors to improve market timing for entry and exit points.
With this recent selloff, I do like to hold short-dated options.
And the TSLA options expire next Friday, only a week away. I am going to suggest you close the position.
Here is how you do it.
Sell to Close March 15th $280 call for $9.60.
But to Close March 15th $287.50 call for $6.00.
The net credit will be $3.60. The overall result will be a gain of $180 for three days.
I would prefer to close the position, as opposed to keeping it
