Hi @khaleelkazi Nice post about Tesla and a put debit spread trade thrown into explain your directional outlook for Tesla. You have really started employing sophisticated options strategies, which demonstrate the versatility of options. Puts are a great way to profit from pull backs and put debit spreads are a great way to use spreads to lower your cost of owning the puts, but the debit spread is a way to tweak the credit spread to an extreme point where you pay a debit instead of a credit to increase your possible profit.

It’s a pleasure to see your trades and your results.
As an aside you can use in the money put spreads to profit from bullish volatility, but both earnings and weak hands who exercise your short can be your enemy in underlying like Tesla.

The engagement on the post is impressive for an options post, so my hats off to you...

...and I had a Nirvana while reading. Cryptocurrency is really volatile and losses occur with such frequency that I think it positively adjusts your mindset to make you a better options trader.

I suggest you add the nuance of rolling to your repertoire. Purist aren’t fans, but crypto enthusiast aren’t usually purists. Remember you sometimes need just a little more time to be right.

Happy Trading.
@shortsegments

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