Support / Resistance đđ:
Support: $414.5, $402, $396
Resistance: possibly $422?, $425, $430
Outlook đ:
TSLA opened above level $407 today, and didnt break down below that level, thus foresee a short term upside today. If TSLA manage to break and hold $407, we should be able to see more short term relief towards $414.5. Else, if TSLA breaks below $407, then watch for even short term downside towards next support level at $402 then $396.
Target đ¯:
Entered this Cash Secured Put position when TSLA was trading at around $411-$413, with the objective to watch if TSLA is able to break $414.5. However past few days for TSLA was weak thus held the position slightly longer.
Saw that TSLA had a slight relief towards $414.5 yesterday, thus quickly exiting this Cash Secured Put position for a good 20% profit to reduce risk.
Satisfied with the profits locked in for this trade.
Trade safe, Tiger friends![Allin]
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