On Friday’s CNBC’s Options Action, the crew analyzed the performance of Tesla stock. Tesla has been one of the best performing stocks of the S&P500 and has outperformed some of the market’s best performers. Tesla fundamentals and car sales have been strong and the stock has rallied 75% YTD. Tesla has reached a bullish triangle apex and looks ready for a bullish breakout. Expecting a move higher, Michael Khouw suggested buying a Nov 380/430 Call Spread for a $16.00 Debit.
We’ve structured this trade in OptionsPlay so you can analyze and view this trade along with the supporting technical chart at your convenience. You can also view the Options Action’s video by clicking on the following link: TSLA Options Action