Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
On CNBC's Options Action, Dan Nathan suggested investors with a long position in Tesla Inc (NASDAQ:TSLA) should consider using an options trading strategy called collar ahead of earnings report.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
The company is going to report earnings on Wednesday and the options market is implying a 6.5 percent move in either direction on the event, while Tesla Inc moves 3.25 percent on average.
Nathan believes the $240 price level is an important support level for the stock, so he wants to place the collar close to this price level. He wants to sell the March 295 call for $4.75 and buy the March 245 put for $4.75. The trade offers protection for his long stock position below $245 or 11.11 percent below the current stock price, but his profits are capped at $295 or 8.36 percent above the current stock price.