Buying TSLA put contracts.
After a strong rally following its earnings report, shares of TSLA appear to be hitting resistance.
The stock still carries a premium price compared to earnings. And risks are mounting including competition with other auto manufacturers, drama with Musk’s Twitter transaction, and a potential slowdown for the global economy.
This trade also helps to add balance to our overall Spec Model Portfolio which has been situated to take advantage of a bear market rally.
- Buy (to open) 1 TSLA August 19th $890 Puts
- Limit $88 or less
- The new position will represent roughly 7.5% of our Spec Model capital
- 10:41 Executed
- Bot 1 TSLA August 19th $890 Puts @ $80.40