Jim Chanos Changes Short Position In Tesla

On CNBC's "Fast Money Halftime Report," Jim Chanos said he transformed his Tesla Inc TSLA short position into a put position.

Chanos is founder and president of Kynikos Associates LP and is a well-known short seller of Enron fame. He's been vocal on his bearish Tesla outlook for years and has expressed previously he doesn't like the stock.

See Also: Short Seller Jim Chanos Explains Why He Still Doesn't Like Tesla

A purchase of a put option allows you the right to sell the underlying at a strike price. You buy a put to enter a bearish position and sell a put to enter a bullish position.

Tesla's stock trades around $848.41 at publication time.