Already long a 266.67 3/15/24 put that is near its breakeven of 228.12. Profit so far is about $500. I expect
TSLA
to go down to $210. Why?
Small head and shoulders, trading under 9 EMA, hype over Cybertruck dying out as peoples' hopes face reality, MACD crossover, rejected high of the channel its been trading in, and there's pretty decent historical support around $210. I do think it could potentially go lower, but I'll take my $2k profit and go if it reaches $210.
I always choose ITM and further out in expiration in case I need to wait. To give my option a chance if initially things don't go my way. Lower break-even, more time to make a profit, less stress. I guess that's why they call me
-InTheMoney
TSLA
to go down to $210. Why? Small head and shoulders, trading under 9 EMA, hype over Cybertruck dying out as peoples' hopes face reality, MACD crossover, rejected high of the channel its been trading in, and there's pretty decent historical support around $210. I do think it could potentially go lower, but I'll take my $2k profit and go if it reaches $210.
I always choose ITM and further out in expiration in case I need to wait. To give my option a chance if initially things don't go my way. Lower break-even, more time to make a profit, less stress. I guess that's why they call me
-InTheMoney
Trade closed manually:
Fed indicating rate cuts coming in 2024 which was not fully priced in. Closed this position for a few hundred bucks of profit. Might regret it, but not willing to fight the Fed on this one.