TSLA Short Naked Put options strategy

Justification for putting on this strategy:

Hi IV percentile, 89%
170 strike is long term support level .
TSLA has been downtrend for the past two weeks.

credit collected $5.4

Probability of Profit: 90%
TP level: 1/3 - 2/3 of credit collected
StopLoss level: 2x
Sep 14
Trade active: price action is continuously moving towards my favor, credit $5.4 is now worth around $5.1
Sep 17
Trade closed: target reached: 1/3 profit achieved, trade closed. Winning trade!
It was a fantastic idea. It dropped $10 yesterday.
You mean 270 Strike ?
cb247 msudhan.im
@msudhan.im, 270 is way to risky, I chose 170 strike. If I chose 270 premium might be around $20 ish, then 10% is $200 in one day which you could earn in one day yesterday!
@cb247, Thank for your reply. One more question. Can you please let me know what is 16 in "nov 16 PUT @170 strike for $5.4" ?

Thanks in advance.
cb247 msudhan.im
@msudhan.im, Nov 16, meaning the options will expire on that day.
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