Tesla is never not interesting. With crazy premiums on options this stock can make you go rich or make you go broke overnight.
Saw a few million dollar buys on short opex calls 1200 strike implying some big money is anticipating a big move to the upside soon.
In my opinion the path of least resistance right now is DOWN - after what appears to be a false breakout Tesla is back below resistance line with a nice gap below waiting to be filled $959 zone. Also put in a lower high from NOV (bearish)
Bullish side - long lower wick buyers stepping in and defending the 50ema acting as great support for now. Lot of call buying from big $ , nothing new there but when someone buys over a million in premium for an OTM 1200C with only a few weeks, makes you wonder...
An idea would be to wait and see how Tesla reacts to the resistance line - going short on rejection or long on a breakout. It won't happen instantly but I think they go and fill that gap below at some point...
Earnings at the end of the month is just icing on the cake. I think if you do get a run up to earnings and you're long, make sure to take some profits / risk off along the way.
Saw a few million dollar buys on short opex calls 1200 strike implying some big money is anticipating a big move to the upside soon.
In my opinion the path of least resistance right now is DOWN - after what appears to be a false breakout Tesla is back below resistance line with a nice gap below waiting to be filled $959 zone. Also put in a lower high from NOV (bearish)
Bullish side - long lower wick buyers stepping in and defending the 50ema acting as great support for now. Lot of call buying from big $ , nothing new there but when someone buys over a million in premium for an OTM 1200C with only a few weeks, makes you wonder...
An idea would be to wait and see how Tesla reacts to the resistance line - going short on rejection or long on a breakout. It won't happen instantly but I think they go and fill that gap below at some point...
Earnings at the end of the month is just icing on the cake. I think if you do get a run up to earnings and you're long, make sure to take some profits / risk off along the way.