OptionsAction's MIchael Khouw's Bearish TSLA Trade
On Friday's Options Action, the crew analyzed the performance of Tesla (TSLA) stock. Tesla has traded within a range for over 3 years before breaking higher towards its $375 highs. Recently, TSLA has started to trade back into the range after a heavy selloff a few weeks ago. Coupled with lower Model 3 delivery numbers and dwindling cash reserves, risks are skewed to the downside. Expecting TSLA to trade lower after their earnings announcement, Michael Khouw suggests Selling a May 18 250/280 Put Ratio 1x2 for a $2.00 Debit.
We've structured this trade in OptionsPlay so you can analyze and view this trade along with the supporting technical chart at your convenience.
View this trade in OptionsPlay: app.optionsplay.com/
Cost: $230
Max Reward: $2,770
Max Risk: $22,230
POP: 34.68%
Breakevens: $222.30, $277.70
We've structured this trade in OptionsPlay so you can analyze and view this trade along with the supporting technical chart at your convenience.
View this trade in OptionsPlay: app.optionsplay.com/
Cost: $230
Max Reward: $2,770
Max Risk: $22,230
POP: 34.68%
Breakevens: $222.30, $277.70
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