$Tesla(TSLA.US) The main reason is that after the last big drop, it immediately rebounded, which led to a surge in enthusiasm among naive investors to buy the dip. However, the two situations are different. Last time, it was driven by speculation and sentiment, while this time, it's due to earnings reports. It feels like before the promised plans are officially delivered and with the disappointing earnings, there won't be a repeat of the immediate rebound after the last big drop—at least the rebound will be limited, or it might even trade sideways. The reason it's not falling further is that naive investors are covering for institutions to unload their positions 🤣👉🤡. Today, there might be a last-minute rally to lure in buyers before continuing to drop tomorrow, or institutions might drop the act and stage a "pin spike" at the close. Anyway, I’ve sold my puts and won’t trade today. I’ll wait to see if there are better-priced call options for next week.