Tesla Earnings Set to Test Sky-High Expectations; Traders Favor a Defined Bear Put Spread
Ahead of Q2 results, Tesla faces lofty expectations and margin pressure from Rivian, which could limit upside on a beat; the piece suggests a risk-defined play: a bear put spread by buying Aug 21 $360 puts and selling $330 puts for a net $0.09 per share ( $9 total ), cap gains at $2,100 while risking $900, and profit if TSLA falls toward $330 by August, with IV still elevated making outright puts pricier.