$100K Closing Trade – Buyback TSLA May Covered call

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The Trade Close at a Glance

  • Account Size: $100K
  • Underlying Stock: Tesla Inc. ($TSLA)
  • Original Trade: Sold 1 May 16 $290 Covered Call for $1,210 credit
  • Date Closed: Today
  • Buy‑to‑Close Price: $457
  • Net Profit: $753 ($1,210 – $457)
  • Reference: See the original trade breakdown ➜ Blog post

Why We Closed Early

  1. Lock in 62% of Max Profit – Captured $753 while there’s still time value left; no need to let risk linger.
  2. Free Up Shares – Clearing the call gives us flexibility to write a new covered call at a higher strike or different expiry.
  3. Trade the Volatility Cycle – TSLA premiums contracted; buying back cheap lets us re‑deploy when IV inflates again.

Next Steps

  • Scan for Fresh Strikes – Evaluate June or higher strikes to keep the premium engine running.
  • Reassess Market Tone – If TSLA rallies, we may wait for richer premiums before the next sale.

Final Thoughts

Successful option selling is about booking wins and recycling capital. This close crystallizes a solid return and reloads our covered‑call strategy.

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#OptionSelling #OptionCredits #OptionTrading #CoveredCall #TSLA #IncomeStrategy

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