Time for some squeezed play?
$Tesla (TSLA.US)$ has broken the lower high, lower low trend by hitting $198.87 on 29/Apr/2024. Since then, it has been moving in a very tight range (for Tesla's standard).
There could be a number of reasons, but the main reason: Market is undecided. Although it’s a matter of time that it needs to decide and I can see coming Wednesday 12/Jun/2024 CPI/FOMC as the cataylst for a breakout.
However I do not know where it wants to go. In such a situation, I would prefer to buy both call and put. The max risk is capped while the profit is “unlimited".
Jun 21, 24 $190 call at $2.51
Jun 21, 24 $165 put at $2.14
Jun 21, 24 $165 put at $2.14
This is just for reference. Please do your own due dilligence and most importantly, do not "show hand” or risk your life savings etc. Risk what you can afford to lose and do not FOMO.
I have a friend whose husband was hooked into trading, thinking it will get him rich. However every time he lost money, he borrowed more and ended up with a huge debt. If you can’t make profit with small amount, you will never make profit with big amount. Therefore please do not end up like my friend’s husband who is currently in the midst of divorce.
Anyway, what do you think will be Tesla’s direction next week? Let’s vote for fun!
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