$TSLA: CALLS Are Still On Fire

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$TSLA had a few analyst comments this morning. Shockingly (and I hope you can sense my sarcasm), BofA Merrill Lynch is sticking with the same tiny target it's had since the stock started its run-up earlier this year. In this market, there's nothing worse than sticking to a failed trade instead of admitting that you're wrong and just moving on. Don't believe me? Just ask hedge fund Pershing Square Capital Management's CEO, Bill Ackman.

I also wrote a nice piece on $TSLA earlier this week and observed that it was heading back to the $135 price level. I bought calls yesterday at $1.20 and just closed out my trade at $4.40. Additionally, I alerted these via my private twitter account, which is accessed through optionmillionaires.com membership.

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I still think that $TSLA heads to $135. However, with Thanksgiving tomorrow and a half-trading day on Friday I thought it was wise to close my position. If $TSLA pulls back heading into early next week I will likely head back into the calls. Again; I'll post my trade via private twitter and in the chat room at optionmillionaires.com

My $TSLA pice from yesterday:  http://www.optionmillionaires.com/tsla-trade-update/

Profile photo of uranium-pinto-beansKnown to most as Uranium Pinto Beans, Jason has more than 15 years under his belt of trading stocks, options and currencies. His expertise primarily lies in chart analysis, and he has a strong eye for undervalued stock. Because he’s got the ability to identify great risk/reward trades he usually enjoys taking the path less traveled and reaping the benefits from the adventure.

He is a co-founder of Option Millionaires, and he is best known for his weekly webinars with Scott, as well as his high level training webinars and charts found in the forums.

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