Elon Musk kicked off the Tesla (TSLA) annual meeting thanking shareholders on Thursday. TSLA shareholders voted Thursday to reinstate CEO Elon Musk’s $56 billion pay package that was voided out by a Delaware judge earlier this year, leading to change the company’s state of incorporation from Delaware to Texas. I want to express a bullish view now that this issue is in the rearview mirror for Tesla. TSLA YTD mountain Tesla, YTD Tesla has been an emotionally charged stock as Elon continues to run several companies and be involved in several more. Like him or dislike him, Tesla is a high beta stock that offers traders electrifying opportunity. Despite Cathie Wood’s recent bullish endorsement this week (ARK’s expects a value of $2,600 per share by 2029, just a 1,350% pop), the technology company has been a massive laggard (-26% year-to-date) and the only Magnificent Seven constituent down in 2024. Can the stock price recover now that the Musk commitment uncertainty has been mitigated? Yes, I believe it can turn around. The $56 billion pay package first approved in 2018 being reneged on Musk raised doubts about his future with Tesla this year. He tweeted on X, the social media platform he owns, that he wanted/needed a 25% stake in the company in order to stop him from taking artificial intelligence development elsewhere. The need for this higher stake he stated was necessary in order to control the use of AI, he has said. The trade Whenever this much emotion is injected into a stock, I like to utilize technicals to help assist in trade construction. Looking at the 50 day & 200 day moving averages, I look to $170 being short-term support and $209 being short-term target and potential resistance. Trade: Bought TSLA $190 Call (7/26/2024) for $9.50 Sold TSLA $215 Call (7/26/2024) for $4.70 This call spread costs $4.80 or $480 per one lot This was with TSLA roughly trading $180.50 Tesla has been historically volatile around key milestones, this call spread may fluctuate as price discovery mode persists. Stay nimble. DISCLOSURES: (Long Tesla and this call spread) THE ABOVE CONTENT IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY . THIS CONTENT IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSITUTE FINANCIAL, INVESTMENT, TAX OR LEGAL ADVICE OR A RECOMMENDATION TO BUY ANY SECURITY OR OTHER FINANCIAL ASSET. THE CONTENT IS GENERAL IN NATURE AND DOES NOT REFLECT ANY INDIVIDUAL’S UNIQUE PERSONAL CIRCUMSTANCES. THE ABOVE CONTENT MIGHT NOT BE SUITABLE FOR YOUR PARTICULAR CIRCUMSTANCES. BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR. Click here for the full disclaimer.