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

in hive-167922 •  7 days ago 

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

IMG_9072.jpg

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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.


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I have been enamored with Tesla since I was just a kid...

When I was a kid Delorean was in production and John still hadn't been nailed on the Coke charges.

Damn I feel old.


Posted via Steemleo | A Decentralized Community for Investors

Age is a mindset.. right?

I feel older than I am.


Posted via Steemleo | A Decentralized Community for Investors

I find as I age, my mind makes me forget how old I am...along with what I had for lunch.

Of course, my neck and back remind me.


Posted via Steemleo | A Decentralized Community for Investors

hahahaha

yeah back and neck troubles are no joke. I'm young but am not a stranger to those. Yoga, yoga and more yoga always helps me.


Posted via Steemleo | A Decentralized Community for Investors

I felt your pain. The Delorean could have been something really special.


Posted via Steemleo | A Decentralized Community for Investors

Clearly there is still room for the FOMO to set in 😉

erhfoehto5.jpg

lmao greed is good (for the short sellers)


Posted via Steemleo | A Decentralized Community for Investors

I like the trade set-up, the short sellers are getting killed, that's the only reason for the rocket in price, hopefully two weeks is enough time for a pull back.


Posted via Steemleo | A Decentralized Community for Investors

I closed it this morning for a little 15% profit. Not bad. I'm still expecting a more noticeable decline but time will tell


Posted via Steemleo | A Decentralized Community for Investors

Again, I love Tesla and I've even ordered myself one of the Cybertrucks that will (hopefully) come out in the next 2 years.

hopefully they will have fixed the windows by then...

I am staying away from stocks for the moment, do not know enough to start doing stuff like that so I would get burned for sure.
I am just waiting for the crash so I can buy cheap and then hold for 20 years


Posted via Steemleo | A Decentralized Community for Investors

lol I hope. I need them things to be bullet proof ;)

That's a good strategy. I am building a side stash of cash for that same move. These things ^ are just to keep me occupied in the mean time


Posted via Steemleo | A Decentralized Community for Investors

I would never dare to short something that is changing the world. Bitcoin is the same, long since day one.

Yeah it was a tough moral thing for me because I always have (and still do) believe in Tesla's mission. In the end it's all numbers on a screen and doesn't mean much. It's not like me sending a short-sell is actually going to tip the balances either way.

I'll atone for my sins when I'm driving around in my Cybertruck ;)


Posted via Steemleo | A Decentralized Community for Investors

r/wallstreetbets would be proud of you :D

That's the highest praise I could imagine 😇


Posted via Steemleo | A Decentralized Community for Investors

I agree. When all the Talking Heads are finally in agreement it’s time to watch for a top as profit takers sell and sell pressure exerts it’s well known effect on price. Potentially a profit taking point for Kong’s in a tax free account and an entry point for options traders to sell puts.


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