Support / Resistance đđ:
Support: $474, $465, $449-$455
Resistance: $483, $488, ATH
Outlook đ:
TSLA got rejected at both $488 & $483 price level again, thus we might be seeing some short term downside momentum towards $474. If $474 fails to hold, then more downside momentum to be seen. Else $474 may be potential support area.
Target đ¯:
Entered this Covered Call position yesterday when TSLA trading around $483 price level, with the view that TSLA would get rejected at either this potential supply level at $483 or $488. Somehow TSLA managed to hold $483 yesterday and was trading around $485-486. I held on this position anyway overnight, and it seems like it paid off.
Initially target to exit position at 15-30% profit, or $100 profit (with stop-loss at same % or $ level) but since we saw TSLA finally rejected off $483 today, held position alittle longer to maximise profit from this Options Swing trade and exit position when TSLA approach near $474.
Happy with the profits secured from this Options Swing trade as we approach the weekend. Not holding any positions over the weekend as usual.
Trade safe, Tiger friends! [666]
Comments