Support / Resistance đđ:
Support: $402, $394-396, $387, $380
Resistance: $408 (?), $414.5, $420
Outlook đ:
TSLA will be opening above $402 during today's market session, thus may be able to see more short term upside movement towards $408 (?). If TSLA managed to break and hold $408, we may see more short term upside towards $414.5, then $420. Else if TSLA rejects $408 (?), watch for support back at $402. If TSLA breaks below $402, then watch for downside movement towards next support level at $394-396.
Target đ¯:
Opened thus Cash Secured Put position on Tuesday when TSLA was trading around $388 price range. Anticipating that TSLA is able to hold $394-396 price range level, else will watch for the next support level at $387 and determine if I want to hold the position longer or just cut-loss.
Initially targeting to exit at 20-50% profit from this Cash Secured Put position, glad I held on since TSLA broke above $402 today. Left with 1 more lot of this Cash Secured Put position, and might consider holding it till expiry.
Invest safe, Tiger friends! [Cool]
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