TSLA is now retesting a breakdown below an ascending channel
I intend to short this with the bear ETF TSL for a 1.5X leverage that way I can buy several shares and tier out of the position sequentially on progress
Once a downtrend becomes established a pull option for a few weeks expiration.
( always watching the TWTR saga and also any signs of upward price action for EV stocks due to the supportive legislation in DC)
Trade active
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Market News Musk dumps 6B in shares - selling pressure going to go parabolic supporting downtrending !
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Out of the money TSLA put option strike $850 Exp 8/26 bought late yesterday is up 24% so far :)
Happy trading Bro! i bought $820 put $0.70 sell $1.20.
AwesomeAvani
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@GiantZero, Nice trade good job done well you are up 60%; I got the $850 for 9/16; Your strategy way out of the money on a put with a soon expiration can be explosive. Glad you made an easy bankable move. I am taking some of my profit off the table but leaving the most to go for more gains. Carry on !
sherpatseringg
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I have Tesla puts do you think tomorrow there’s gonna be more downside for Tesla?
AwesomeAvani
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@sherpatseringg, Yes tomorrow should be down if they have a near expiration tomorrow could be your sell day and maybe reload with the profits for an expiration in September. Because of market dominance apparently Tesla will not have the new EV credits while others such as RIDE WKHS LCID RIVN NKLAFSR will be eligible as the government seeks to interfere with the free market and level the playing field. Musk is livid no doubt.
AwesomeAvani
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@sherpatseringg, see also my composite index idea showing EV stocks as a collective index.