$TSLA CUSTOM 261023 PUT 315.0/PUT 305.0/CALL 390.0/CALL 400.0$ Batman Setup (Double Ratio)
Do you like me sharing these complex trades? Comment so that I know what is of interest to more options trader like you. Thanks.
1️⃣ Why am I making this trade now?
pretty much just for fun.
Setting up some less used and more complex options setup for testing new strategies and also compute its effectiveness on real live trades.
usually don't share these setups as it involves more writing up compared to normal single setup.
For this trade, 6 setups are required to build this double ratio build, which covers both side of the put and call sides.
Expiry in 23 days on 23rd Oct. Earnings on 28th Oct.
Buy call $390 x 1
Sell call $400 x 2
Buy put $315 x 1
Sell put $305 x 2
Collect $285 credit per setup.
Thought the commissions are expensive as this is a 6 sides setups per 1 contract.
Probably of winning is high as delta near 0.15 so about 85% chance of profit for net sellers.
2️⃣ What’s my plan from here?
Take profit at 70% to 90% range.
Or take profit/cut loss when options is less than 1 week left.
Or cut loss when loss is about 1.5x of credit received.
Cheers. 
TSLA Custom
10-01 00:22
US315.0/305.0/390.0/400.0
| Side | Price | Realized P&L |
|---|---|---|
| Credit Open | -2.85 | -- Holding |
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