TSLA – My Bullseye Pick of the Week

TSLA Call options near $8 (open price) – 6 days later $21.06  = 163%+

My Trade Plan Details:

• • • TSLA 9/19 $350 calls
      
    • Stop: Closes TSLA below $300
    • Target 1: $340’s
      
    • Target 2: $360’s
      

I’m filling in for Jeff Bishop and have walked through this trade idea with him. I like the TSLA $350 calls expiring September 19. One could consider the end of August for a more volatile trade but while this trade could deliver this week, I might need a few weeks to unfold.

The rationale is Powell’s anticipated interest rate cut and its impact on the sales of TSLA cars. Elon stands to do quite well when rates come down as margins and sales volume will improve due to customers having more money to spend.

Overall markets had a nice pullback to end last week so as long as that’s the bottom, this trade should deliver a nice win.

My Bullseye pick this week is to buy (TSLA) call options.

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 below $300.

If things go my way, I think we could see TSLA rise to $350, and possibly even an inside bar breakout to $370, which is target #2 for me.