Market Overview

Dan Nathan Gives An Update On His Tesla Trade


On CNBC's "Options Action," Dan Nathan spoke about his winning Tesla Inc (NASDAQ: TSLA) trade.

On July 19, he suggested that investors with a long position in the name should consider protecting it with options. He recommended them to buy the August 250/210 put spread for $9.

The stock dropped 11% since then and Nathan would now close the trade because the put spread is now worth around $21. He thinks that there could be lower lows, but he is concerned that it becomes a hard press as the stock gets some support.


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Posted-In: CNBC Dan Nathan Options ActionOptions Markets Media