How Did MIKE Day Trade $45 into $3300
But this was an absolutely super fun day. The market did exactly what Leo said it was going to do. We started out here, thinking the market could never drop. What's the next thing that happens? Leo's video comes out here. Look at what we do, we drop, we drop, we drop. We know he's right, we know what the moves are.
So in that video, one of the things I noticed was Tesla. He's pointing to a real big drop here. So I took a look at the spy this morning and we're seeing that it's having trouble, it's topping, it's topping, it's topping for a third time. You can see here, the VIX, it just cannot go lower, it wants to go lower, cannot go lower. Here, three times, looking at these candles, you know it's going to turn around and start going higher.
So what do we do? We take a look at Tesla and we see a similar pattern here, except it's not even making it up to it's moving average up here. So I buy into a 715 put right here at about 760 or so. Paid 45 cents and what happens? Oh, it's beautiful. Elon Musk, out of nowhere, says the price is too high. What? Okay, here it comes, 3,000%, I didn't even take a picture until this point. 5,000%, that's right, from $45. 7,000%.
Now this whole time I'm putting in orders to sell this and I'm thinking, they're crazy at 10 bucks, 15 bucks, 20 bucks. Now I've honestly got 10,000% in my mind. I know there's a couple gaps that could be resistance down below. And lo and behold, it hits one of them. And what happens is the VIX stops going up at about exactly 10 o'clock. Very important sometimes to look at the hour of the day.
So once it was clear that we weren't going to go any lower, I was able to get my fill in at $25. So we're talking $45 to $2,025 in about 50 minutes. That's what happens when you trade fearlessly, when you know what the moves are. When you understand the VIX, you understand the volume and the things in the courses. You guys, this could not be more fun, it could not be easier if you understand what you're doing. I did all this from my cell phone in the cab of my truck while at a construction site. Anybody can do this. You guys are going to do well, just keep studying, keep learning and have a lot of fun. We'll talk to you later.