Happy Easter to all of you. I hope that everyone is staying safe and healthy during this crazy ass mess.
I've stopped writing as much because the markets are busy and it's easier for me to just put thoughts on the StockTwits account here.
I know most of you either hate or love Tesla, some love it more than others judging by the replies I get.
Regardless of that, I want to share the long idea on this. Fundamentals aside, because this stock is driven purely on sentiment and Robin Hood traders (as well as WSB degenerates) this thing looks ready to get to $700.
Click to expand that.
The weekly candle is solid. So let's take that as reason #1
Reason #2. The daily chart. A breakout above $550 there with a measured move. Plus a gap fill above.
Reason #3. The stock reports earnings 4/22. Whether they are good or bad I could care less about and so should you.
Why? Because traders will buy this up (like we saw late Friday) into this report. So, I guess, the fundamentals are a little in play here.
The IV on the options is not too bad yet. The 24 APR 20 chain is about 60%-70%, not great, but not too bad either. The issue I have here is that those $700 strikes will cost about $7.00 for a directional play.
That is expensive in terms of the option, not in price. Again, whether you pay $30.00 for an option or 30 cents for one doesn't matter.
What matters is the return.
That being said I am probably day trading the weeks, then selling puts on this all week this week because of the premium.
That's all for this week.
In regards to questions; The Premium Membership you should really have $25,000 + to take advantage of it fully.
If you have less than that then do the Small Account Membership.
There is a full weekly PDF report that is sent out in the Premium (also why I am writing less here).
Thanks for following.
hOW do you justify this fraud of a fucking joke market?
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