Mike Khouw: Cybercabs are a game changer—here's how I'm trading Tesla — SkimNews
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- Tesla launched the Cybercab — which has no steering wheel and no pedals — with sightings in Palo Alto near Tesla's Northern California HQ; shares closed near $376 after a 5.4% jump on launch day, well below the 52-week high near $499.
- Mike Khouw proposed a defined-risk options trade: buy TSLA December 390 calls at $32.50, sell October 23 weekly 425 calls at $9.50 and 330 puts at $7.30, for a net debit of $15.70.
- The three strongest technical indicators for Tesla over the past year — MACD, DMI, and RSI — are all bullish, supporting a long-call structure.
- Waymo already operates at scale with trip volume Tesla has not yet matched, and the Cybercab rollout is limited to a small unsupervised fleet.
- Cybercab is a two-seater with no cargo, and unit economics improve only if utilization and regulatory permission both expand rapidly, per Khouw's own caveats.
- The structure offsets theta decay by selling the nearer-dated October 425/330 strangle, which collects $16.80 and is expected to decay faster than the longer-dated 390 call.
Why it matters: Tesla rallied 5.4% on launch day yet still trades roughly $123 below its 52-week high of $499, giving the December call room to run if Cybercab momentum holds. But the article's own caveats — a two-seat, no-cargo design, a tiny unsupervised fleet, and Waymo's existing scale — mean the trade's upside depends on regulatory and utilization expansion Tesla has not yet demonstrated.
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