Dan Nathan Sees Unusal Options Activity In Tesla Motors Inc

, Dan Nathan spoke about a bearish options activity in

. When the stock was trading around $215 a trader sold 1,000 contracts of the March 230 call options for $7.10. The trader is hoping that

is going to trade below $237.10 at March expiration. Nathan presented a chart of

and showed a triangle pattern. He explained that the stock has just got back to its downtrend line. Nathan added that the implied volatility is not as high as it has been over the last three quarters. He thinks that long premium structures should work well to protect a long position in the stock.