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
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• 10:41 Executed
• Bot 1 TSLA August 19th $890 Puts @ $80.40