Tesla usually sees late day profit taking and stop loss scalping. Usually occurs mid-late afternoon, and if sentiment is overwhelmingly positive, the MM's will typically do a late day spring that will rocket the stock into tomorrow. This trade idea is a short term scalp.
The $830 put option exp 1/8 has a time value of only $3-4/ea. Retracement to the high 790s would yield a $8-12/contract return.
do you mean there will be a pull back soon? Do you see any chance it will pull back to 799? I needed that pull back to get out of my 900 call credit spread. Thanks