TSLA - MyMI Short Option Plays
Updated
We purchased a variety of options throughout these mornings Price Actions with the markets opening for the week.
As we expected in our last analysis, we were looking for a Double Rejection of or around the $214's and TSLA couldn't hold or create support above those levels. So we started looking for entries into Shorts last week but didn't stack them up until today due to the long weekend. Purchase some SPY PUTs simultaneously to see some potential settlement in the recent Bull pushes that we've seen in some good other names (some vs. our own expectation of their price actions).
Everyone has provided a strong focus on the $152-$153 Gap that hasn't been backfilled yet so we're expecting some decent pullback and at least riding this week to retest $188. If we see strong momentum in our TA Indies then we will look at $172 next at least. Well definitely be okay with a sale at the $188, a short-term reversal ride and then making our way back to $150 if we even see it that steep.
Overall we closed green for the day and expect potentially a strong push if there is an overacted sale of the current Red Descending Trend/Triangle that you can see forming.
As we expected in our last analysis, we were looking for a Double Rejection of or around the $214's and TSLA couldn't hold or create support above those levels. So we started looking for entries into Shorts last week but didn't stack them up until today due to the long weekend. Purchase some SPY PUTs simultaneously to see some potential settlement in the recent Bull pushes that we've seen in some good other names (some vs. our own expectation of their price actions).
Everyone has provided a strong focus on the $152-$153 Gap that hasn't been backfilled yet so we're expecting some decent pullback and at least riding this week to retest $188. If we see strong momentum in our TA Indies then we will look at $172 next at least. Well definitely be okay with a sale at the $188, a short-term reversal ride and then making our way back to $150 if we even see it that steep.
Overall we closed green for the day and expect potentially a strong push if there is an overacted sale of the current Red Descending Trend/Triangle that you can see forming.
Note
Momentum Indicators removed:Note
Shorter Timespan for more clarity on most recent price actionNote
February 23rd, 2023 - Intraday Price ActionTSLA had an overreacted downside, as well as an upside and seems to be settling back into the downward triangular trend that we saw forming
Trade closed manually
We closed our TSLA Short Options today with some profits after confirming the following: We will reset next week and start a new chart from the one included here so we track the predictions appropriately in the coming weeks! Thank you for tuning in and hopefully you were able to snatch some of the profits we did!
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