$TSLA Tesla Coming Back Down to Earth - $20M Bearish Options Bet

$TSLA Tesla has fallen out of a two year range to the downside. Close today was the lowest since January 2017. Expecting further downside and fresh lows in the near term.

Bearish options bet today - $20M worth of $400/$375 strike (very deep ITM) June puts traded. The very high per contract premium looks like a hedge fund bet ($13k-$16k per contract).

See chart for possible near term targets. Barring some extraordinary goods news, we could see a decline down to $180 support by next ER in early August.



Note: Informational, not investment advice.