Last week, with $TSLA struggling near almost 5-month lows, I said that the stock was ready to rebound to at least $135 short term. I backed that up by buying the $120 calls for $1.20, whereupon they hit $10.40 a few days later. I also alerted my purchase via my private twitter account.
This is what I was saying last week with $TSLA at recent lows:
The bottom line, in my opinion: $TSLA has bottomed at current prices and is poised for a short-term rally to at least $135 per share, and it will be a very profitable trade when the move does occur. I intend to capitalize on the impending move via out-of-the money calls.
$TSLA has since broken through the $135 mark and is well above $140 pre-market. Just as I predicted last week, call buyers have made tremendous profits off this move. So: where is $TSLA headed from here?
I think a small pullback to the $140 to $138 level is possible before $TLSA resumes movement to the upside with a sharp rally over $160. Again, this will be very profitable for call buyers but timing will be of the essence in order to maximize profit.
I will post any entry into $TSLA calls via the chat room at optionmillionaires.com and private twitter.