Hey guys, just getting back to the desk for the first full day today so sorry for not sharing our current option plays on Tesla.
I believe our last update was riding PUTs back in the $122-$123s which we closed those trades going throughout the end of the week on Thursday.
Didn't make any major plays going into Friday, and waited to see how this week's session went for TSLA.
On Monday, we bought some ITM Calls around the $135-$136 Price Levels and rode that into today as we found resistance around the $144-$145 Price Levels which actually match up to our Fib Retracement as shown.
We're looking for a 34-EMA Rejection which would potentially send TSLA to first retest those $137.19 > $129 > $122-$123 Levels of Support that have converted from previous resistance.
If TSLA can get above $145 and find support there, then we will be looking PUTs naturally bu we also have Earnings going into tomorrow, so may have some fun with that with an additional option side play to ride into the night.
We will be playing PUTs going into
I believe our last update was riding PUTs back in the $122-$123s which we closed those trades going throughout the end of the week on Thursday.
Didn't make any major plays going into Friday, and waited to see how this week's session went for TSLA.
On Monday, we bought some ITM Calls around the $135-$136 Price Levels and rode that into today as we found resistance around the $144-$145 Price Levels which actually match up to our Fib Retracement as shown.
We're looking for a 34-EMA Rejection which would potentially send TSLA to first retest those $137.19 > $129 > $122-$123 Levels of Support that have converted from previous resistance.
If TSLA can get above $145 and find support there, then we will be looking PUTs naturally bu we also have Earnings going into tomorrow, so may have some fun with that with an additional option side play to ride into the night.
We will be playing PUTs going into
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TSLA dropped this morning as we expected.
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Hell of a Bull Bounce throughout today's trading session. Still holding into earnings to see how this plays out. Didn't risk much and I believe the reward will pay off. Let's see!!
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Naturally still needs to hold above $145.35 to confirm support before coming back down is my current consensus regardless of Earnings
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As I expected..
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TSLA Ripped off of Earnings but showing longer-term resistance at the higher Blue Line
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She shoots up like a champ overnight eating into my PUTs. Not mad at her at all and am actually glad to see the stock performing as well as it is. My exposure was an OTM so I didn't risk too much playing the Quarterly Earnings (which we typically never do).
Moving forward, we're looking for resist at the $160.95 Price Level to see how it reacts from here but GO TSLA! Keep up the hard work!
Moving forward, we're looking for resist at the $160.95 Price Level to see how it reacts from here but GO TSLA! Keep up the hard work!
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Precisely purchased 5 more of the PUTs I bought going into yesterday's earning play that apparently blew up on us at 160.50. The stock has pulled back $5 back since so I was able to not only better position myself, but made back some of the losses we took from the response to the earnings call.
We purchased our new long-term position around the $116s that were acquired from trading options on the stock, so we're always happy to see TSLA performing. We're merely playing the swings to acquire even more. We have not purchased any more shares at these prices and don't expect to purchase more with our profits until we see something around $122-$129 (if we ever do it again). In the meantime, we're using those profits in other trades to find longer-term positions in other stocks that we find strong momentum building.
Feel free to check out some of our other trades as we will continue to share them all here like we used to.
Precisely purchased 5 more of the PUTs I bought going into yesterday's earning play that apparently blew up on us at 160.50. The stock has pulled back $5 back since so I was able to not only better position myself, but made back some of the losses we took from the response to the earnings call.
We purchased our new long-term position around the $116s that were acquired from trading options on the stock, so we're always happy to see TSLA performing. We're merely playing the swings to acquire even more. We have not purchased any more shares at these prices and don't expect to purchase more with our profits until we see something around $122-$129 (if we ever do it again). In the meantime, we're using those profits in other trades to find longer-term positions in other stocks that we find strong momentum building.
Feel free to check out some of our other trades as we will continue to share them all here like we used to.
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Today's Intraday Price Action since Earnings Call
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For more clarity, this is why we were comfortable purchasing more PUTs this morning around those $160.95 Price Levels
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Without Momentum Indicators
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Intraday Price Action Update
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Sell the PUTs!!! Well... hold on now! What that??
