TSLA Trade on Sep 14, 2020 15:42 from Marius: Tradervue User Stock Trades.

Markets opening the week relatively stronger but still in the range and downtrend from the highs with the VIX decreasing. Thinking lesser volume this week with FOMC and quadruple witching.

Was going to trade DKNG which was an A+ setup but the R/R didn't present favorable when weighing market risk. I think I'm still a little shaken form the NKLA trade from last week. Went with TSLA seeing the relative strength since the bounce. It is now also above anchored vwap from the split which is a key indicator. I also exited longer-term longs on this bounce at the open with other technology names with a target and plan to get back in once the markets have fully settled and recovered from the recent sell-off. Still more downside risk then reward at the moment. Will probably get more clarity after this week.

Noting the TSLA has completed the 5B offering and battery day is next week on the 22nd.

Intraday Fundamentals

RVOL 1.07
AVOL 79.39M
Short Float 5.9%
ATR 35.94

Option Statistics

SI 0.994
IV 113.21
IV Percentile 51%
P/C Ratio 0.473
Call Delta's 41-60 40%
Put Delta's 0-20 43%

Options Position Metrics

OI 1,519
Vol 1,797
Delta -.03 / Theta -.29 / Vega 0.3

Technical Analysis
Price traded above 400 and anchored vwap from split. Rejected HTF inflection 430 level. This is where I will be potentially adding back into the long-term account.

Tape Reading

Noting the largest option trade for today for the weeklys. 2,204 415 P and 687 430 C

Trade Review

Exited based on % of return on trade. This was about 50% of max gain on trade over night. I didn't do any market breadth analysis before exit. Something I'm not putting too much emphasis on being the main purpose of the trade was for income and potentially financing a bigger trade with a developed thesis. There was no specific catalyst for this trade besides Battery Day next Tuesday. This was more momentum and technical based with relative strength in the markets. Grading this trade as a B as I should have looked at the price chart and market breadth readings. The trade did make more but reversed sharply at EOD. Forgot to mention that this is a Fed week and quadruple witching. It makes sense to take profits quicker in this scenario. That has been my plan going into the week.

May get back in the trade based on how the market develops through the Fed meeting and Friday. Marking the notable price action EOD. Can be potentially an area to assess risk off of.