We trade TSLA options completely independent from any big picture macro considerations. Accordingly, TSLA triggered a short-term Buy on yesterday's close, approximately 11% off of the lows for the week. Today's intraday high is at $226.37; it will take a close above to confirm this signal and go long March calls. TSLA 240 Minute Trading Model TSLA 120 Minute - A better entry Note today's gap-up 120 minute price bar has turned red. After a strong move up off of the lows, a 38-62% retracement would provide for a more comfortable entry. Nonetheless, if it starts running higher, we have our buy level with a close above today's highs. Buy stop: On a TSLA close above $226.27 we will be buying*: Mar 15 2024 $250C (15.75-15.90) Target: TSLA -----> $270-$340 Target $250C -----> $30-$90 Stop: Optional 50% trailing stop *A dip into Fib retracement under $210 could also trigger this trade, more on this next week.
