Trade Recap for 9/11/23

$AMZN 142c

• Setup: relative strength

• Entry: 142c over 140.50 at 1.1

• Exits: 1.23, 1.4, 1.67

• Highest Profit Percent: 52%

Today, AMZN started with a strong push into 140 on above average volume. While we saw SPY and QQQ failed to move higher through the opening session, AMZN continued to hold near 140 and the dips were being bought aggressively. This price action paired with volume was the reason for an entry. When AMZN reclaimed 140 I took that as confirmation and entered calls looking for a push mainly into 142. Profit target was reached.

$TSLA 270c

• Setup: relative strength

• Entry: 270c over PM high at 4.3

• Exits: 5.15, 5.7, 7.00

• Highest Profit Percent: 63%

TSLA was gapping up today on a strong upgrade and PT raise. TSLA was clearing the 261 resistance premarket and this was the main level of focus. I wanted to see TSLA pull back into 261 and hold this level. If TSLA was able to hold 261 then the focus was calls. Under 261 I wouldn’t be interested in a setup. TSLA held 261 but consolidated for about an hour before breaking over PM high. Over PM high (premarket high) I took an entry on calls and sold progressively and still holding runners.