The recent price surge is primarily driven by election results. Both are strong personalities and there is a potential for falling out sometime. Even otherwise, TSLA has seen many drawdown and rallies because of its mercurial CEO.
So I bought Jan 26 $200 Put and sold $180 Put for 3.85. In total I bought 10 contracts, so either I lose 3850, or I make 20,000. Of course I am not going to hold this till maturity, rather close on TSLA stock weakness and take profits.
I closed 60% of my position when the spread price increased to $4.5, locking in some gain. But mainly, looking at option volume, it seemed $TSLA is going to rally, while the Implied volatility had raised, and thus option prices, even though $TSLA stock price moved up, I wanted to wait for better entry.
For those really adventurous, $TSLA call volume are exploding. in 4 trading days, the traders are expecting $TSLA to increase from $352 to $400+, that is $150 B increase in market cap.
This action is similar to $GME, where option buyers are driving the price higher. I am sure Trump presidency might be helpful for TSLA, but is that worth $500 Billion???
I still strongly think the put spread will make money, but if you think market will offer a better entry point, then you should wait for that. Hence I closed 60% of my position for a mere $390 profit. Waiting for better entry around $3. I have also sold some short term put options for $260 strike price. If the price declines sharply towards that, the spreads i own will appreciate faster than the call…
You have to roll dice in this casino… too much action to stay on the sidelines. 
Elon criticized stargate deal y’day and Trump took that on stride. I will be slowly building my position. 
$TSLA announced what is a soft quarter. 2025 guidance looks pedestrian. He makes it up for these with rosy 26, 27, 28… guidance. Talks like we will be more valuable than the next 4 or 5 companies…
