I have to laugh at this one.
Having seen TSLA sky rocket before the open and then go flat I wasn't all that interested figuring it was a headfake foreign trade of some sort. I thought it would fall but not crash! But this morning my S/O watched CNBC and saw TSLA going across the ticker often. He saw TSLA down $1.29 and continue the down.
So he prodded me and asked if there was any news. I searched and came across the down grade of TSLA by GS.
Briefing said..."TSLA (116.4 -8.53%): Heard Goldman discussed valuation based on 3 scenarios (arrived to tgt of $84 based on avg from scenarios) ." Now when I get a downgrade by GS I really have to look.
GW's charts really didn't show anything EXCEPT E. Oh man did our mouths water.
Based solely on the E charts...55,34,21,13,8,5...we both got into the trade. We didn't wait for any pull back or any other signal we jumped PDQ entering the trade 10:36 AM.
S/O and I bought 10 July 118 puts @ 298. We sold @ 1:31 PM @ $9.30.