Tesla Attracts Bearish Bets From Options Traders Following Price Cuts In China
Portfolio Pulse from Priya Nigam
Tesla shares traded lower after the company announced incentives on its Model S and X vehicles in China. There were more puts traded versus calls on Tesla, indicating bearish bets. Tesla also cut prices on the Model Y Long Range and Performance versions in China. Tesla shares fell 3.2% to close at $225.60 on Wednesday.
August 17, 2023 | 1:02 pm
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Bearish bets on Tesla following price cuts in China. More puts traded versus calls, indicating a potential further fall in Tesla's stock price.
The news of Tesla's price cuts in China and the increase in puts traded versus calls indicates a bearish sentiment among traders. This could potentially lead to a further fall in Tesla's stock price in the short term.
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