Tsla had a strong rejection around 490, just short of a massive psychological level that is 500$. I have long since expected some level of a pull back but the stock just kept ripping. A reasonable zone for this to bounce is around 350$. This is the golden ratio, a golden pocket correction. Very likely during such a bullish trend, an opportunity. The stochastic RSI hit a top that it has hit a very times in the recent past.
My plan: I am short until 350 ish.
I bought back my TSLL covered calls and locked in a nice win. I will sell another 6 month put on TSLL here, and possibly buy more shares.
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