Option Strategies: .SPX, NVDA& TSLA
Hello everyone! Today i want to share some option strategies with you!
1.
$Tesla Motors(TSLA)$ Trade idea: TSLA May 2 300C
Trigger: 290 ✅
Targets: 300,310 🎯
Stop: 283 🛑
TSLA- closed at 284.95. TSLA 290 is a big resistance level. If TSLA can breakout above 290 in the next 2 weeks we can see a run to 311,325.
Calls can work near 290 or through 300 this week. TSLA looks like it has formed a bottom above 218. Let's see if TSLA can move back to 325-343 by the end of May.
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2.
$NVIDIA(NVDA)$ Trade idea: NVDA May 2 115C
Trigger: 113 ✅
Targets: 120,123 🎯
Stop: 108 🛑
NVDA- closed at 111.01. NVDA had a strong bounce last week. NVDA moved from 95 to 111 intraday. NVDA can test 113 early this week. NVDA above 113 will set up for 120-123 again. Calls can work above 113.
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3.
$S&P 500(.SPX)$ WEEKLY TRADE PLAN ✅
CALLS: SPX above 5500 SPX April 30 5600C T 5600 SL 5465 📈
PUTS: SPX under 5465 SPX April 30 5400P T 5400 SL 5500 📉
SPX- closed at 5525.21. SPX bounced from 5101 to 5528 this past week. SPX has a big move higher. If SPX can hold above 5465 this week, it can run to 5600-5646 by Friday. We have lots of tech earnings and Core PCE and NFP data this week.
The market can make another big move to the upside if we get some positive reactions to tech earnings and data. If SPX fails to hold 5400 l'd avoid calls. SPX under 5400 can retest 5272.
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