Option Play: TSLA
Simple fundamentals, not news. Bullish pennant formed with massive volume accumulated at the beginning run up, and decreasing volume since, particularly selling which could indicate a bounce soon. It’s much like a coil. Recent days have closed with wicks that are supported by bottom trend line, potentially building for the next attempt at a breakout. With the way things are lining up, maybe a news catalyst that boosts the market is what this puppy needs to re-test 500. Sitting in the 450c with a 350p hedge if the stock decides to fall out of the pennant on a bad catalyst. Don’t get caught chasing and good luck if you play!
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