Call Spread on TSLA on 6/9/2014

Tesla Motors, Inc. (TSLA) designs, develops, manufactures, and sells electric vehicles and electric vehicle powertrain components.

The company also provides services for the development of electric powertrain systems and components, and sells electric vehicle powertrain components to other automotive manufacturers. It markets and sells its vehicles through Tesla stores and galleries, as well as over the Internet.

The company operates a network of 80 stores and galleries in North America, Europe, and Asia. 

Shares have formed a bullish "cup and handle" and higher share prices are expected for this stock.

52-Week Trading Range: $94.05 - $265.00

Last Trade: $208.17

Here is the trade: 

Trade Buy 1 July $205.00 Call at $12.50 Sell 1 July $215.00 Call at $8.00 For a net debit of $4.50 Profit/Loss Analysis Breakeven at $209.50 Maximum profit is $550.00 at strike of $215.00 Maximum loss is ($450.00) at strike of $205.00 Closing Summary Sold 1 July $205.00 Call at $16.00 Bought 1 July $215.00 Call at $10.20

Position closed on 6/16/2014 at price of $5.80 with a 28.89% gain in 7 days.

Updates

6/16/2014 10:19:03 AM

We are taking profits on TSLA call spread.

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