Support / Resistance ๐๐:
Support: $460, $449-$455, $440
Resistance: $465, $474, $483
Outlook ๐:
TSLA failed to hold $474 and market opened below $474 which was the previous support level, thus anticipating some short term downside momentum. If TSLA is able to hold $465, we may regain some upside movement. Else $465 may potentially be another rejection level.
Next level to watch is $460.
Target ๐ฏ:
Entered this Covered Call position when TSLA was trading around $467 price level. Since TSLA is already trading below $474 when market opened, expecting more short term downside movement for TSLA towards $465 or $460.
As shared, target to exit this Covered Call position at 15-30% profit, or $100 profit (with stop-loss at same % or $ level), or when TSLA approach near $465 or $460. Exited my position at $135 profit when TSLA trading back at $462-463 price level.
Overall market seems to have some weakness too, which is why I have some confidence that this Options scalp position will play out.
Happy with the profits secured.
Trade safe, Tiger friends! [Allin]
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