Short Opportunity

The Tesla drama plays on, today giving an excellent opportunity to short.

Two days ago, it dropped 15% on a similar rejection at the 50ma.

Yesterday and today, it rallied, probably to front run this "positive news" that came out today ( Tesla beating production estimates). However, as the news came out, it is again being sold off at the 50ma. It is also backtesting a large triangle breakdown.

Good place to short with limited risk. Tight stop above 50ma. I recommend short call spreads as the premiums are very high on their options. You can find spreads that have equal risk/reward (max gain == max loss), which is good for such strategy.
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tangman gilberto.neblett

Sure, I sold one 310 call yesterday. I didn't buy a call to limit the risk, but had a mental stop above the 50ma.

I think TSLA will continue to decline, but I took profit today because it was a good profit. I'm probably leaving money on the table, I might repeat if it rallies weakly.
@tangman, great. Thanks
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