Tesla Inc. ($TSLA) experienced a significant drop in its stock price, hitting a new post-report cash session low. The stock is currently trading around the $240 mark, which is considered a key support level. Investors are reacting to this dip by purchasing November $267.5 calls at $2.60 and hedging with November $232.50 puts. The downtrend continues, and market participants are closely monitoring whether the stock will hold at this level. Some traders view the current price as a better risk/reward opportunity for long positions over the coming months compared to $270. Early buyers have acquired 3000 November $267.5 calls at $2.60 into this dip to the 21-MA, and the post ER retrace target is between $245-$242.