TSLA options 09/23//24 near $5 (reached $5.70) – 6 days later $14.30 = 150%

My Trade Plan Details:

• TSLA Oct 4 $255 calls near $5.00
• Stop: Closes TSLA below $235
  
• Target 1: $260
  
• Target 2: $270

My Reasoning:

I am glad to have the Fed rate cut from last week behind us.  I wasn’t really sure how the market would react to this, and I tried to trade very cautiously ahead of that.

Unfortunately, the stock I was most confident about didn’t pan out.  I am still very bullish on ASTS, though, and I will open a new position again shortly when it starts to set up properly for me again. That would probably be a couple of days back above $30. 

This week, I am returning to a stock that I have had great success with. In fact, earlier this month, the options I alerted you to on this stock jumped over 200% in two days.

While I never know if that type of magic will repeat itself, this is a great time to revisit this stock for another bull run higher.

I like the overall strength in the market, and this stock has been finding a lot of renewed interest lately, which I expect to carry it higher.

My plan is to get started near the open today and buy both stock and options, hopefully near my target entry price, which I list below.

If this trade doesn’t work out, I will use a stop with a closing price under $235. That was the recent resistance level from the last few weeks.  I now expect that to act as support if TSLA dips, and if a closing price below that would be my stop loss. 

If things go my way, I think we could see TSLA break above $260 soon and possibly even squeeze to $270 if things really go well.

As always, I aim to lock in 30-50% on my trades and ensure I secure a winner when possible. If the trend holds up, I also want to let some positions ride for a bigger win.