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Tesla Put Signal 20 June 2016

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Signal details
Entry Price: 
Close Price: 
Expiry Time: 
20:00 GMT
How we trade
5/5 of 2 ratings

Tesla Motors is trending higher today with the market gapping higher at the open to trade as high as $223.75. In the aftermath of the strong open the shares of the firm have consolidated and have failed to sustain the move above $222 later during the session. With the U.S. market close approaching we are seeing some shifts in the trade.

We will be buying daily put options on this pair in the aftermath of the heavy trading and in light of the failure above the key level on the hourly chart which is still $222. Only in case of the pair trading higher than $224 we should be reassessing our views and buying daily calls on the pair. For now we are buying daily puts at $221 for tonight's expiration.

Disclaimer: The article is written for informative purposes only and it is not financial advice. The author does not have any position in the currency pairs mentioned, and no plans to initiate a position. He wrote the article himself and expressed his own opinions. He has no business nor personal relationships with any mentioned government entities or stocks. Readers should not treat any opinion expressed by the author as a specific inducement to make a particular trade or follow a particular strategy, but only as an expression of his opinion.