Option Strategies: .SPX, META& TSLA

Hello everyone! Today i want to share some option strategies with you!

1.

$Tesla Motors(TSLA)$ Trade idea: TSLA May 9 300C

Trigger: 290 ✅

Targets: 300,310 🎯

Stop: 283 🛑

TSLA- closed at 287.21. TSLA tested 290 4 times last week and failed to close above.

TSLA needs to get through 290 and close above on a daily candle to set up for 311,325.

Calls can work above 290 this week as a day trade. Once TSLA can close near 300 it should gain more momentum to the upside.

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2.

$Meta Platforms, Inc.(META)$ Trade idea: META May 9 610C

Trigger: 600 ✅

Targets: 610,623 🎯

Stop: 588 🛑

META- closed at 597.02. META above 600 this week will set up for a move back to 633.

Once META closes through 633 this year it run move back up to 691-700 again. Calls can work above 600 this week.

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3.

$S&P 500(.SPX)$ WEEKLY TRADE PLAN ✅

CALLS: SPX above 5700 SPX May 7 5770C T 5767 SL 5670 📈

PUTS: SPX under 5600 SPX May 7 5530P T 5537 SL 5646 📉

SPX- closed at 5686.67. SPX is trying to make a V shape recovery since dropping to 5835 in early April. FOMC is on Wednesday. IF SPX can hold up above 5600 after FOMC we can see one more push towards 5767-5800.

Once SPX approaches this range near 5800 I would be careful trading calls. We can see more sellers step in as SPX approached 5800. Calls can work above 5670 or through 5700 early this week.

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