Most investors know that it has been a great year to own Tesla (TSLA) as the stock is up 110% YTD.
Tesla has historically been a momentum stock with wild swings to the upside and downtime so it is always been advised to watch out for the current trend associated with the stock.
If you are an options trader, you know that momentum can be your friend or your assassin if you are on the wrong side of the trade. Luckily, if you have were a holder of TSLA Jul 21 2023 $220.00 call you are probably feeling really good about yourself.
The call was priced at $15.05 ($1505) per contract on June 1st, 2023 and it was trading at $45.50 ($4550) per contract today on June 16th which would have tripled your initial investment in the last two weeks.
Of course, options can be heavily volatile and you can your money very quickly if your trade doesn't work out, but it does feel good to capture a return like this if you are on the right side of the trade.
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