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Politics often set the tone for markets. Though the political headlines are big these days, not all markets react strongly. The fact that Italian elections will probably be held this fall put pressure on the euro while gold got more expensive following the news. Equities are not affected by the fear of risk and are trading close to highs, and Saxo's Peter Garnry maintains a positive view, particularly on European and cyclical stocks.
Short term
Trade view / 01 September 2016 at 22:54 GMT

UPDATE: Tesla may be running out of power

Product Manager Futures and Options / Saxo Bank
Denmark
Instrument: TSLA:xnas
Price target:
Market price:

On August 19 I posted a trade view on the electric vehicle maker Tesla. Shares of TSLA are getting slammed today, as of this writing at $202.82, and we are going to exit today ahead of long weekend in the US. By buying back the 23 SEP 215 put and selling 23 SEP 225 put for a mid (inside the Bid/Ask) of $8.70 we are taking a profit of $2.95 or 51% ROR. 


TSLA chart
Daily TSLA
 Source: Saxo Bank. Create your own charts with SaxoTraderGO click here to learn more


— Edited by Susan McDonald


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