Tesla Debit Spread Drove 424% Profit for Options Bulls

Group 1 - The options trade on Tesla Inc (NASDAQ: TSLA) resulted in a remarkable 424% return for subscribers of Schaeffer's Vertical Options Trader [1] - The bullish stance on Tesla was driven by the stock clearing a trendline of December highs and bouncing off support at $300 [2] - The stock experienced significant price movements, including a 6% gap higher on September 11 due to positive Model Y demand and a subsequent 7.4% increase on September 12 following a favorable analyst note [7] Group 2 - Half of the position was closed on September 12, realizing a partial profit of 225%, while the remaining half was closed on February 12, securing a net profit of 424% within one month [6] - The stock reached its highest level since late January after news of CEO Elon Musk repurchasing shares for the first time since 2021 [7]