r/wallstreetbets • u/LifeIsYoursLiveIt • 18h ago

Loss Lost $7,200 in TSLA... in 28 minutes.

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At 10:19am I placed an order to buy 60 contracts of TSLA $240.00 Put... Was a market order and still didn't fucking place. So I canceled a couple minutes later. I would've made $20k.

At 10:47am I bought 32 contracts of TSLA $235.00 Put @ $279.00 per contract. TSLA skyrocketed ten fucking dollars right after.

At 11:17am I couldn't take it anymore and sold all 32 contracts of TSLA $235.00 Put for an average of $54.00 per contract.

-$7,200 in 28 minutes. Tesla has beaten me down in the equity in my model 3 performance, in the stock market, and now in the form of options. I hate you Tesla.

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u/ChinCheckUrFartBox 17h ago

I bought all my puts expiring in January of next year to avoid this scenario

5

u/ngjsp 15h ago

Why not 3 month or 6 month expiry instead?

25

u/ChinCheckUrFartBox 15h ago

Idk

5

u/ngjsp 15h ago

I had a view of tsla sub 200s in 1-2 months, so bought 4 months expiry to be safe, as market can stay irrationally longer than you expect. Sold em today for a good profit.

3

u/SkyHighFlyGuyOhMy 15h ago

IMO it’s going down more but I also tend to hold puts too long. But still, in this market it’s gotta go down more.