Selling puts is my bread and butter (100% of my IRA's and most of my taxable accounts). Never layered them though. Interesting approach. In something with options as liquid as TSLA's are, I personally would have sold a put spread with the short strike where the technicals indicated risk was minimal with the long strike positioned to give me the desired profit for the trade. Wider spreads are typically better than more least from my research. When I get challenged, I typically roll the short strike down and double or roll out and down for more credit and time to be right (no double on the roll out and down).  Your trade ties up a lot of capital, but you made money and I sat it out. Nice trade. 

    yes it does tie up

    Posted by arun on 20th of Jul 2022 at 04:35 pm

    yes it does tie up capital but I am ok with that because it stops me from using too much capital for other trades and hopefully by friday afternoon they become worthless


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