Option Strategies: TSLA, MU& .SPX
1. $S&P 500(.SPX)$ TRADE PLAN π π
SPX bullish plan: SPX at 7100 | SPX Apr 22 7180C π
T: 7172, 7200 SL 7055
SPX bearish plan: SPX under 7000 | SPX Apr 22 6900P π
T: 6921, 6900 SL 7055
SPX ran from 6887 to 7147 this past week.
As long as SPX holds 7000, we should continue to see an uptrend towards 7700 this year.
If we see a gap down Monday morning, itβd be best to see a higher low above 7055.
We donβt want to see a 140-point pullback this quickly after breaking out last week.
2
$Micron Technology(MU)$ Trade Idea: April 24 490C
Trigger: 471 β
Targets: 490, 500 π―
Stop: 460 π
MU moved from 426 to 470 last week.
Once MU can get through 471, we should see 500β512 next.
The price action can be more choppy from 442β471 for now.
Be patient as MU trades in this range.
3
$Tesla Motors(TSLA)$ Trade Idea: April 24 410C
Trigger: 400 β
Targets: 424, 436 π―
Stop: No SL π
TSLA moved from 336 to 409 the past two weeks.
If TSLA can form a higher low above 383, it can move back to 436 on the next leg higher.
If thereβs a gap down on Monday and TSLA can hold above 383, Iβd consider calls in the 383β390 range.
Calls can also work above 400.
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