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, Dan Nathan spoke about a bearish options activity in
Tesla Motors IncTSLA. 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
Tesla Motors Inc is going to trade below $237.10 at March expiration.
Nathan presented a chart of
Tesla Motors Inc 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.
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