400 to 4200 Trading Options
I would turn 400 into 4,200 in two days, less than 24 hours, actually from a Thursday till Friday. I'll also mention that I did not catch the top, little frustrating, but anyway, here's the trade. The only one to focus on is test-slow, which is the trade at hand. I bought 11 contracts at basically around 38 and 35, so I'd say 37 cents. I got 11 contracts. It's about a $400 investment. Ended up getting an accidental execution at $4 and 75 cents, which basically gave me a profit for the day of about $4,262 and 50 cents. I initially had some other orders. Thursday I had an order of going, seeing as the thing could get up being $450.
I changed that today because it did rapidly deteriorate at the beginning of the day. These were some of my initial limit orders and this $15 limit order was really what I should have got. I only say that because I had a thought process that I was going to take partial profits and let the other partial ride, and I was going to sell six contracts, keep five. When I did that, I changed my mind. I'm like, no, I'm just going to leave this order alone, and somehow I got executed.
I did cancel this, but I went to read it. Let's see if we can look at time frames. This will give you ideas. Cancel that 936. This was the reason why, is because this was the options had dropped. I was basically not making money, I was still probably close, but I didn't know what Tesla was going to do at the time. I knew probably would sell for 50 bucks, so I canceled that and I set an order at 10 and then a canceled that and five. Okay. Then I started seeing some movement around this time I canceled and really was at 15, and this is just showing cancellation. Anyway, I ended up getting executed shortly after there. This was supposed to be an order back at $15. It says it limited me.
This is something for everybody to be aware of, especially on these options. If you, just double check your order, I've actually sworn that I have $15 in there and hit confirm. For some reason it marketed me, I would have never set this at 475. Look at it logically $5, it's not possible, but that's part of trading, right? Anyway, I basically made about 1050% on this trade. You can see right there. I turned that into 400 and some dollars into 42. I do want to show this real quick because this is the short version of the videos I've tried to record, but if you want to know where I got the idea of buying the $700 Puts weekly that expired today, I bought them yesterday, and this was the reason why.
I get this video. I didn't get the video probably until 10, some o'clock, but this was still actionable item. Leo's talking about the market's at about 860. I think I got ended up getting a trade about 830. I'm not even going to go into. Further in the video he makes some actual calls for getting into Tesla at different Puts. And those would have been worth a lot more money than what mine ended up getting to, but hear this.
Don't be surprised if by tomorrow you're going to see $200 less.
Okay. He said $668. We're pretty much done for the day. Ended up getting down here at 70, so look, did it get down to 668? No, but it got under 700 bucks and that was my whole strategy, that I would try the $700 out of the money options.
I don't hold Leo to an exact number. He's making a calculation, the market doesn't have to come down to that. Sometimes it will, sometimes it won't. This to me is still a great call based on the information provided.
There was just so much meat on the bone here and yeah, I didn't take advantage of all of it. Simply put if I come here and I'm going to close this out in a second, not actually go to charts, and if I go to, I have the flex grid now, so these were as much as $25. I left a lot of money on the table, but that's trading. I'm not going to sit here and cry about it. I've already been pissed greatly about it because I should at least got executed at $15. There were still 10 more dollars upside. That's it. That's what these weekly options can do for you. A small amount of money, 400 bucks, so that's the trade. I turn 400 into 4,200 in about 24 hours. I'd like to enter the contest. Because I'm really interested in that trading like a rockstar video series. Thanks everyone.