Gambling here - purchased 20 contract Sept 90 put at premium of 3.20
GS downgraded efw days ago and I wish I had some put, fortunately bounce back to 120.
I am betting TSLA will slow back to 90's. I am just hoping to getout before Mid-August.
I may be crazy to buying PUT with this high flying MUSK Stock, but I am a gamber.
esdac--I own some too. I didn't buy a full position because I want to leave room to buy more if the stock has another parabolic move after earnings. Whatever you do, don't panic if it takes off at first on earings. I had a short position on VFC and was worried this morning when headlines were saying they beat revs and the stock was showing a $2 gain. Within a few hours it was down $5 and I had a nice profit in hand.
I have to agree with Regrose, buying them this far out means you now have to cover the larger premium too. If you think it'll tank what would make that most likely - in your mind? I'd think, that you would assume earnings, so why not go for AUG puts (cheaper) and only a week after earnings, but still enough time to get there if you are right (you won't be tho)
Dow/SP/Nasdaq gained up 4 weeks and we all know nothing goes straight up. 32 mil heavy Volume on tuesday, dropping to 26, 11, 6 mil today. Total options traded past month on TSLA favors PUT over CALL by 2 to 1. There may be institution playing here to push down TSLA in short term, that's what I am looking for. Than again, this is all my own analysis and I've been worng many times though I am right many times as well.