$Tesla Motors(TSLA)$ Thanks Tesla, Thanks Elon. My TSLA position was finally earned! That my account has hit a record high! 😅 Wishing everyonehappy the Year of the Rabbit! And wealth in the Year of the Rabbit!
When the shares fell from $200 to $100 that bears killed bulls, then the rebound from $100 that was a result of short covering. Then it suffered a short squeeze after earnings.
Review of my TSLA takeover, passing the Sell Put at $200, $180, $160 and $135 respectively. And I bought 100 shares when the price was $120, reducing the average cost to $163.
The strike prices on my Sell Call for TSLA are $180, $185, and $200, and they expire next week. Also, $180 and $200 are due on February 17, and $200 is due in March.
It is possible to exercise them at $180 and $185 next week. But the FOMC is just around the corner. It is expected that volatility will be higher next Wednesday and Thursday. TSLA rose by 33% this week. So it probably ttakes a step back.
Musk said that "demand far exceeds production, and we actually are making some small price increases as a result" on the earnings call. As a result, the price reduction strategy achieved remarkable results. Yet, the overall net profit can continue to grow at a high rate of 43% year-on-year, despite declining gross profit, indicating that the valuation of the company is relatively cheap.
The drop in price of the short snipers caused by trust and uncertainty has passed. The callback caused by macro factors or Elon's personal problem is a buying opportunity.
Let me have a look at its charts. However, TSLA's technical indicators are not really effective, and they often diverge because of long and short traders. For example, I believe $135 is the bottom in this round but the actual price was $101. As a result, technical chart can only be used as a personal assistant.
Looking at the daily line combined with the weekly line, the next strong resistance of TSLA is around 205, that is, the lowest point of the previous round of decline. Last October, it fell to 205 and rebounded to the price of Fib50% (311). Then it dropped from 311 to 101. The Fib50% is just around the low point of the last round (205-207), so I hung the main stop profit Sell Call at 200. Of course, I intend to reduce my position at 180/185 to a health position.
If you go to a big callback, it is also possible for TSLA to go to 135. If my Sell Call is exercised next week, I will continue to do Sell Put of 135-150, and continue to take over to reduce costs.
The shares could move to 135 if they see a big return. If my Sell Call is exercised next week, I will continue to do my Sell Put of 135-150, and continue to take over to reduce costs. If I do not exercise next week, I will hold and wait for 200-250, but I will still keep some TSLA for a long-term position!
Comments