Stop Loss price at the previous support of $251.
I added TSLA shares to my portfolio position on 9/16 at $255.
I will check the TSLA OCT option chain to evaluate a potential Long Call position at the In-The-Money strike price
premium. I use a Covered Call Return formula to validate the execution of a Long Call, using a Limit Order entry for the first hour pull back. One aspect of my trading strategy is to use the first 15 days of a new option cycle to optimize option positions on highly liquid equities - regarding time decay and factors.
Duration of trade - I will hold my Long Call position within the 7 day trend with a trail stop to protect me against sudden mean reversions.