Premium Service Sep 15, 2023 $200C TSLA initial stop on Sep $200 hit on Monday as shares closed below the ATR (Average True Range) threshold of $248.00. If still holding the Sep calls, use a 50% trailing stop to exit, meaning the option hitting anywhere below +350% "Current Return" levels, or $46.80. Current price is at $58.09. Using this stop, worst case is that every $1,040 placed into this trade on May 5th will be exited @ $4,680. My focus on TSLA these past days is due to the fact that we have huge gains in our options and need to be true to our stops in order to be set-up for the big price appreciation expected into 2024-2025. TSLA can bottom in the low 200's in July or could have bottomed by the time you read this. Our strategy covers both scenarios, as well as a dozen others that could unfold. The PRO Service's trading model, which is much shorter-term oriented, is now on a Sell, but so far the intermediate term models remain steadfastly Long. Whichever direction is next, we expect to be back aggressively long out-of-the-money calls, either Sep or Dec 2023 expiration, depending on when and from what levels the next leg up begins. Premium Service Jan 17, 2025 $420C Longer term recommended options, the Jan 17, 2025 $420C, remains a "Buy & Hold" position.
