Power Plays Update: Trim IBIT, TSLA Update
November 6, 2024
By Scott Redler
The election is over (finally!) and there are two big winners: Bitcoin and Tesla (TSLA).
Thankfully, we've had exposure to both in Power Plays.
We'll take off another 25% of iShares Bitcoin Trust ETF (IBIT), leaving us with 50% of the original position.
We started IBIT at $36.55, added at $34.82. and it's over $42 this morning. However, I still see upside ahead which is why we're holding onto some.
As for TSLA, it's skyrocketing this morning, up nearly 13%.
If you haven't done so already, I'd take something off the table. We have 1/3 left in our Power Plays position we added at $250.24.
Note that in my positions disclosure below, it shows I am short TSLA stock. However, I only shorted the stock this morning as a way to lock in profit on my long calls. On a net-net basis, I have a ton of long exposure to TSLA so I am happy to see it up so much.
Have a great day!
-Scott
Scott Redler Positions Disclosure as of 2024-11-06 at 8.11.16 AM


