My mentor bought Puts on TSLA on 11/06, bought more on 11/07 and more on 11/14. He bought a butt load of puts and is still in all positions. He told me this morning that this stock was by far way over priced, so he knew it would drop like a rock. He said this trade is one that is hard for him to not get excited about because he has broken a 3 /12 year old personal best. He said he will not get out until he has a reason. Mentor said, he will ride this stock until it makes a strong turn on the 233. He apparently has multiple "lots of positions". He said he has so much money in this position until he will not entertain, study, or focus on any other stock until he is out of all TSLA positions. Last thing, mentor said he is considering not trading anymore for the remainder of this year after exiting these positions because this trade has taken his life to another level. He wants to get with his financial team and figure out how they are going to deal with taxes this year. He also said in a very humble manner, "Do not ever think these trades come by often, so do not get gung hoe about diving into what you might think is the next big thing- You will get your A-- crushed trying to chase a stock. Let it come to you and if it is a big trade, ride it until you have a reason to get out". He said, "I will probably not ever have a ride like this for the remainder of my life. I have a lot of friends who trade and none of them have experienced a trade like this".
Of course guys like this function on a level that I will be blessed to ever reach, but nevertheless, it is motivation to keep pushing ahead. I assume he will profit 2 or 3 million on those positions. He rode a $154 stock down to $120. I pinched about $4- whippeee! He gets $34 and I get $4. I am happy with any profit. I will get better as time goes on. Same with those of you who are not happy with your results. Just keep working.
