Dan Nathan's Tesla Trade - Tesla (NASDAQ:TSLA)

Dan Nathan spoke on CNBC's Options Action

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about Tesla Motors Inc (NASDAQ: TSLA). He believes that the stock is going lower and he suggested that traders should consider a bearish options strategy in the name.Nathan wants to sell the December 31, 200 strike put for $4.50 and buy the March 200 put for $13.50. The put calendar would cost him $9 and the breakeven for the trade is at $191. In order to collect the premium on the short put option, he is hoping that the stock is going to close above $200 at the December expiration. After that he can consider selling another 200 strike put that expires before March or he can sell a lower strike put and turn the trade into a vertical put spread.