Nice work everybody! TSLA is in the sell zone now! Remember to watch the all time highs! If we see TSLA break above that, then the trade is cancelled. We should begin a long 5 wave move down for the next few years. Lets see if we get the 1st target below at 298 :)
thanks for the setup on this!!
it filled when it hit 376.50, stops now in place for the ATH @ 388
budchevy
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jan 2020 put filled..
whiteknightmoving
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@budchevy, nice work! you probably got a better fill than me also!
hg.crypto.17
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@budchevy, whats the strike price we are talking about bud?
budchevy
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@HG.crypto.17, I bought the Jan 2020 $450 puts for $120
hg.crypto.17
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@budchevy, if you don't mind me asking, why $450? why not $500? or $400?
is that because thats the max amount of money you want to risk on this trade?
budchevy
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@HG.crypto.17, I was just a comfortable risk level for me based on WK's info..
budchevy
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missed the entry after the pullback.. now have bids in on option puts
whiteknightmoving
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@budchevy, All time high was 389.61, In case TSLA breaks that level. I personally don't like stops, as they frequently get hit and run. If it breaks above this high that is my sell signal only. I then look for a 50% retracement of the most recent swing up and then measure back down to sell. Most times I suffer less damage than the stop loss area. Frequently , I'll actually make money on the play. Since we are trying to sell at the highs (buy puts) we have crowded the upper end of the swings to minimize our risk capital. So lets see how this plays out. It's always scary to sell (buy puts) when everybody else is buying the stock. If we get a good crack below 366.75, I'll feel very good about this play :)
it filled when it hit 376.50, stops now in place for the ATH @ 388