Tesla Soared Over 25% In A Month: Options Market Weighs In On How Much Steam Is Left In Rally
Portfolio Pulse from Bhavik Nair
Tesla shares have gained over 25% in the last month, driven by CEO Elon Musk's China visit and optimism over the debt ceiling crisis. However, the rally's momentum is in question due to uncertainty over the Federal Reserve's policy action. Options market data indicates resistance at the $220 Call strike and support at the $195 Put strike.
June 05, 2023 | 11:50 am
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
Tesla's stock rally may face resistance at the $220 Call strike, with support at the $195 Put strike. The momentum is in question due to uncertainty over the Federal Reserve's policy action.
Tesla's stock has gained significantly in the past month, but the rally's momentum is uncertain due to the upcoming Federal Reserve policy action. The options market data shows resistance at the $220 Call strike, which may limit the stock's rise in the short term, and support at the $195 Put strike. This analysis is based on the options market data and the current market situation, but any major news or macro events could lead to significant movement in the stock price.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100