$TSLA sitting at $382.49 right before earnings drop tonight. Let's read the structure.
$400 is your ceiling — that's where gamma positioning creates resistance. Price wants to push there, but options flow says it's the lid until proven otherwise.
Support sits at $370. Clean level. If we lose that, next stop is $360.26 — that's your key structural floor. Below that, the trade breaks.
So the setup is simple: $370 holds, we're hunting $400. $370 fails, we're testing $360. Earnings will decide which side gets conviction. Watch how price reacts to these levels post-print — that's your confirmation or invalidation.
Gamma positioning matters because it shows where dealers hedge. Price gets pulled toward those strikes. Right now, $400 is the magnet above, $370 is the anchor below. Trade the reaction, not the headline.
$400 is your ceiling — that's where gamma positioning creates resistance. Price wants to push there, but options flow says it's the lid until proven otherwise.
Support sits at $370. Clean level. If we lose that, next stop is $360.26 — that's your key structural floor. Below that, the trade breaks.
So the setup is simple: $370 holds, we're hunting $400. $370 fails, we're testing $360. Earnings will decide which side gets conviction. Watch how price reacts to these levels post-print — that's your confirmation or invalidation.
Gamma positioning matters because it shows where dealers hedge. Price gets pulled toward those strikes. Right now, $400 is the magnet above, $370 is the anchor below. Trade the reaction, not the headline.