No fair value for TSLA today: our four models disagree too much — the highest is more than 3 times the lowest ($23.53 to $292), so an average would mean nothing.
Prices as of 11:47 PM ET, Sep 21. Check the live quote before you send an order.
The put
Skip
Skip the put. It pays a lot because TSLA can drop a lot. Wait, or buy shares.
If it goes against you: you buy 100 shares at $368, which after the $1,173 you keep works out to $355.77 a share. Below $355.77 you are down on the trade. From that day the shares take above is the one that applies.
The order, if you sell it anyway
You get$1,173 (limit about $11.73)
If it fallsBuy 100 shares at $368
Cash to hold$36,750
Close earlyBuy back at about $2.35 ($235)
Chance you buy the sharesabout 40 in 100
ContractTSLA Oct 16 $368 put
ActionSell to open
In your broker app: open the stock → Trade → Options → Sell to open → pick the contract shown here.
Why skip
The put: Oct 16, $368 strike, 25 days out. Pays $1,173. Roughly a 40-in-100 chance you end up buying the shares.
On paper: 47% a year. That number assumes TSLA keeps moving like it did the past two years. Take that away and it is -22% a year. That is why we say skip.
Next earnings Oct 21, after this put ends. We never sell a put across a report.
If you already own 100 shares
Income call
For income on TSLA you already hold: sell the Oct 16 $425 call and take $315 now. If TSLA climbs to $425 by Oct 16, your 100 shares are sold at $425, so only do it if you're happy selling there.
If it climbs past $425 your 100 shares are sold at $425 and you keep the $315. That is the trade working, not a loss.