The TSLA Wedge Calls-Breakout I am still looking to buy a breakout of the wedge pattern, calls to be announced. Calls-Breakdown In the light of yesterday's NFLX earnings debacle a second TSLA trade opportunity presents. Should a NFLX type reaction take place after today's TSLA earnings call, i.e., a double digit after-hours crash, wedge support is sitting right around $800. It is a natural target for the bears. Should $800 be broken, even for one second, we will be buying calls on any regular session close above $850. If $750 is touched, lower that buy level to a close above $800. In fast market conditions, always check the PRO website for real time Alerts. Puts TSLA is down today about 2.5% (probably in sympathy with NFLX). Note on the option table below that TSLA May 20th way out-of-the money puts are up 30X or more the percentage decline in the share price. For an aggressive trade, an overnight buy and hold on any of these would provide a speculative short-term hedge against a potential triple digit point decline into Thursday morning.
