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Tesla (TSLA) stock is now off over 11% in early trading on July 24 at $260.52 from its July 18 $293.34 peak. But this could be good news for traders who sell short out-of-the-money puts for both income and lower buy-in opportunities.
The company released its earnings on July 19, showing revenue approaching $25B in a single quarter. This was despite having significantly lowered its prices on certain popular models during the quarter.