Tesla Stock | Today News
This is the Monday of Tesla's milestone. For the first time, the automaker broke through $1,000 per share
and entered the $1 trillion club, which is a few stocks with market
capitalization above this threshold, such as Apple and Microsoft. After the
car rental company Hertz said it would purchase 100,000 models
to strengthen its electric vehicle fleet,
the stock rose by nearly
13%, and the order will be fully completed by the end of 2022. Danielle Shay, head of options at Simpler
Trading, told CNBC’s Trading Nation on Monday: “This is a
typical stock symbol that usually trades around key psychological
values. In the options market, it tends to stay at these levels." After Tesla's latest milestone, Shay's goal is to a higher level. "I will consider a price point of $1,200. We are within
the range of the November series expiration, and I like to trade
with [Butterfly Spread]. They are cheap, low risk, high returns,
and can carry out some strong momentum trading, "she says.
Shay recommends trading longer-term
butterfly spreads for Tesla—for example, buy 1,050 call
options, sell 1,200 call options, and then buy a second call
option at 1,350, which expires in November or December.
The impact of January plus the earnings in January,"
she said in a follow-up email to CNBC. "January is
my best month of the year for many years. It seemed like
a perfect storm, so I took more risks in December/January. " The rise to $1,200 means a further increase of about
17% from Tesla's closing price on Monday. By the end
of the meeting, its transaction price was close to $1,025. Oppenheimer's head of technical analysis, Ari Wald, is also
optimistic about Tesla and agrees to Shay's $1,200 goal.
Wald previously called it a buy on October 4-the closing
price of the trading day was slightly higher than $781.
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