Posts

TSLA Jumped Another 10% Today | I Couldn't Resist the Short Play

avatar of @khaleelkazi
25
@khaleelkazi
·
0 views
·
2 min read

TSLA jumped another 10% today. I have been enamored with Tesla since I was just a kid and I first learned about Elon's dream to turn the yet-to-be delivered Roadster into an affordable EV that the world could turn to as a safe haven from the gas-powered garbage we've grown accustomed to.

That said, I've been LONG on TSLA for a long time. I have always talked about Tesla as being a great company to invest in for the long haul. Akin to investing in Apple way back in the day. They are going to lead the revolution to come in the EV world.

Tesla has proven this mission better than I could have ever imagined but the latest run-up in price has me on the opposite side of the fence for the first time ever.

Today, for the first time ever, I have shorted TSLA.

To be fair, I still have a long-term position and a belief that Tesla will do far better than the peanuts it's doing today.. but this short play on the outlandish run-up it's had recently was irresistable.

I bought PUTS going out about 2 weeks from now to support my short-term belief that TSLA is going to have a small correction after the doubling in price it's seen sine October 2019.

Again, I love Tesla and I've even ordered myself one of the Cybertrucks that will (hopefully) come out in the next 2 years. This short-term play just seems like a no-brainer to me.

All the media is currently talking about how Tesla "has plenty of room above $500" and it's mostly positive. This is an indicator for me to sell. When everyone was talking shit about Tesla 5 months ago and 5 years ago and all in-between, that was my signal to buy.

  • $1.92 / contract avg. cost
  • Jan 24th exp. date
  • Target profit: 15% or higher

I'm imagining that we'll see some sort of correction tomorrow. When/if that happens, I will shoot out an update to see what I closed this trade at.

Posted via Steemleo | A Decentralized Community for Investors