With Tesla earnings scheduled for tomorrow, July 22, a veteran chart ****** yst says TSLA stock is set to fall, and the options market just backed him with a roughly $550 million bet against it.
Carter Worth is an American financial expert, famously known as "Chart Master" on CNBC. Worth's projection on Tesla stock is backed by market data. Money flow has turned negative and traders are hedging, even as Wall Street keeps raising its price targets.
Most retail investors might not know Carter Worth, but Wall Street does. He is a 35-year market veteran and founder of Worth Charting, a regular CNBC guest and co-host of Options Action.
This week, Worth told CNBC that Tesla's chart points to a decline ahead.
The options market agrees, as traders placed a roughly $550 million bet against Tesla into the print, and implied volatility sits in the 78th percentile of its past year. It is a sign the market is braced for a large move.
#carter #wall
Carter Worth is an American financial expert, famously known as "Chart Master" on CNBC. Worth's projection on Tesla stock is backed by market data. Money flow has turned negative and traders are hedging, even as Wall Street keeps raising its price targets.
Most retail investors might not know Carter Worth, but Wall Street does. He is a 35-year market veteran and founder of Worth Charting, a regular CNBC guest and co-host of Options Action.
This week, Worth told CNBC that Tesla's chart points to a decline ahead.
The options market agrees, as traders placed a roughly $550 million bet against Tesla into the print, and implied volatility sits in the 78th percentile of its past year. It is a sign the market is braced for a large move.
#carter #wall
2 months ago
