are mounting ahead of the electric-car maker's highly anticipated first-quarter earnings due out on Wednesday.
These trades are bets that Tesla shares could fall below $230 or even $200 a share — a level they haven't seen since December 2016. Shares were trading just above $263 apiece early Monday. "The Apr26 flow trading may be viewed as a type of 'crash protection' in that an investor now has the right to sell 500k shares if stock is $200 or lower at the end of this week," Alison Edwards, a derivatives strategist at Susquehanna, said in an email to Markets Insider.
It's a short sellers dream!
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