27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.
Tesla, Inc. (NASDAQ:TSLA) may be about to break out. This means the share price could move even higher.
Resistance is a large concentration of sell orders that have been placed at or close to the same price. As you can see on the following chart, there has been resistance for TSLA around the $774 level.
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If the stock can trade and hold above it, traders will say it has broken out. This could be a bullish sign.
It will show that the investors who created the resistance with their sell orders have left the market. They have canceled or finished their orders.
With this large amount of supply out of the way, investors who wish to purchase shares will be forced to pay higher prices. This could result in the stock rallying.
To learn more about trading, check out the new Benzinga Trading School.
Photo courtesy of Tesla.
27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.