Daily Tesla Trader (1/29/24)

Get Free Stock Picks via SMS by Signing Up Below!

I would like to receive timely trade ideas and stock watchlists from Trader's Alley at the phone number provided. Message frequency varies. Message and data rates may apply. Reply HELP for help or STOP to cancel.(Trader's Alley SMS Terms of Service & Privacy Policy)

So, last week was pretty good for our Tesla trades.

Pretty much played straight puts all week. But I think things will go a little different this week.

You can see on the chart that the 9-day is still below the 20-day.

But this is a big week in the tech world. Five of the “Magnificent Seven” — Apple, Google, Meta, Microsoft, and Amazon — all have earnings coming out.

In anticipation of the earnings reports, prices are likely to rise across the market, and particularly in the tech sector. I believe Tesla will be pulled along for the ride, especially after such a long down-period.

Trade Idea:

Price Target: $190

Options Contract: 2 FEB 2024 $190 CALL