TSLA Cash-Secured Put Idea: How We Kept $256 in 5 Days
A cash-secured put on Tesla (TSLA) paid us $256 in 5 days. Here is the exact trade: strike, premium, buyback and return on the cash set aside.
This story was written with the assistance of an AI writing program.
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The trade at a glance:
- $256 kept in 5 days
- $330 strike · Oct 30 expiry
- Sold $4.20 → bought back $1.64
- $2.56 a share × 100 shares
- 0.79% ROI · $33,000 cash set aside
On October 15, we sold the Tesla (TSLA) $330 put expiring October 30. We collected $4.20 per share — $420 up front, cash set aside to cover the $330 strike.
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By October 20, the premium had dropped to $1.64. We bought it back for $164 and closed the trade. $4.20 minus $1.64 is $2.56 a share, times 100, equals $256 kept. Five days — opened October 15, closed October 20. That’s a 0.79% return on the $33,000 set aside.
Why buy it back instead of waiting for expiry? The money was already made. Time decay shrinks the premium every day, and here it collapsed fast. Waiting until October 30 for the last $164 would have tied up $33,000 for almost nothing extra. We took the profit and moved on.
You don’t have to hold to expiry to win. You just have to buy back for less than you sold for. The sooner that happens, the faster your cash frees up.
The other side matters too. If Tesla had dropped below $330, we’d own 100 shares at $330 — the deal we signed up for, at a price we’d be fine owning it at, with $420 banked. From there we’d sell covered calls and keep the wheel turning. Both outcomes were planned before we put it on.
People picture options income as slow, month-long waits. But when premium decays fast, you’re in and out in days. That speed lets the strategy compound — one trade closes, the next setup gets its turn.
$256 won’t change your life. But it’s $256 for five days on a trade we understood going in, both outcomes planned. Stack enough of those.
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You can see this trade on our public ledger with every other closed trade: Full trade history — GreeksSurge ledger
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GreeksSurge is a financial publisher. Educational only — not financial or legal advice. Options involve risk.
