I opened $TSLA 20240503 135.0 PUT$ ,TSLA: Sold covered call on TSLA with strike at $135 and expiring in 3rd May which is 15 days away. Premium collection will be 2% during this period. The stock had been coming down for a long way and at oversold regions. It is also down today over analyst downgrade so took the opportunity on the bearish outlook to sell this put. The stock is currently reaching support level based on previous low in Apr 2023, oversold RSI with positive divergence and potential gap fill support down to $145. Selling this put at $135 which is 10% lower should provide ample buffer for movement. Risk is earning on 23rd Apr so let’s see which way this stock goes.Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
TSLA will drop to 100