J-Hook IN TSLA

[Steven Place]

Last week TSLA put in a monster candle, rallying up to 145 on high volume. It has since pulled back, and I’m looking for the confirmed breakout above 145. If it does that then, initial target is 155, and then we’ll see.

I like the stock long here with an exit if we lose Monday’s low.

There are 2 ways to consider playing it.

For aggressive trades, Pick the Jan 160 calls here for 3.85 or lower. Scale 1/2 if we tag the 50 day moving average.

For a spread, look to the Dec/Jan 160 call calendar for 3.00. That one gives you positive theta if you are right.

 

 

[Steven Place]

Well… I had written off this trade as a 100% loss into earnings, but some news has sent the stock back up to 160. I am bailing on the long calls at 4.90 and will reassess later.

[Author]

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