Great trade on Tesla (TSLA Short Strangle)

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TSLA Trade – Short Strangle Trade Idea

 

Here is a great TSLA trade for today. Tesla (TSLA) had a great day yesterday, jumping over 10%. And even with broad markets showing weakness in the pre-market, TSLA seems to be hanging in at the 110 level.

 

The May weeklys with 2 days to go is showing an Implied Volatility of 127%. This is obviously going to have juicy premiums with 2 days to go.

 

The TSLA Trade

 

Short Strangle – 97.5 / 125 Strikes or the 100/ 130 strikes.

 

Credit $2 , Margin $11

 

Return possible in 2 days = 20%

 

Breakevens are at 95 and 127

 

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