Weekly Trading Plans: META, TSLA& .SPX

EliteOptionsTrader
03-24

1.

$Tesla Motors(TSLA)$ Trade idea: TSLA March 28 260C

Trigger: 251 ✅

Targets: 265,273 🎯

Stop: 244 🛑

TSLA- closed at 248.71. TSLA dropped 55% from the highs. TSLA has since bounced 30 pts from the lows this month. TSLA through 251 will set up for a move back up to 276. TSLA through 276 can run to 300-311. Calls can work above 251 this week.

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2..

$Meta Platforms, Inc.(META)$ Trade idea: META March 28 610C

Trigger: 600 ✅

Targets: 610,623 🎯

Stop: 592 🛑

META- closed at 596.25. META started to show some signs of a breakout last Thursday after moving up to 610. META through 600 this week will retest 610. It's possible we see 633 in the next 2 weeks if META breaks out above 610.Calls can work through 600 or 610 this week. I'd avoid calls under 579.

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3.

$S&P 500(.SPX)$ WEEKLY TRADE PLAN ✅

CALLS: SPX above 5670 SPX March 26 5730C Targets 5729,5767 📈

PUTS: SPX under 5600 SPX March 26 5550P, Targets 5564,5537 📉

SPX- closed at 5667.56. SPX defended the 5600 support this past week and moved near 5670 by the end of Friday. We can see a move to 5767-5800 this week if SPX can reclaim 5700.

Calls can work through 5670 and 5700 early this week. IF SPX fails at 5600, Puts can work for a move to 5537,5500.Let's see if SPX can reclaim 5767 and form a base above this level by the end of this upcoming week.

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