Tesla has traded between $350 and $500 over the past six months. Jamal is going outside that entire range on both sides with a short strangle in June. The logic is simple: if the stock could not break out of that range during one of the wildest six months in recent market history, why would it do it in the next 34 days?

IVR of 16 makes this a cheaper setup than usual, but volatility has been ticking up with the stock, and the theta decay on this position is over $38 per day. High buying power required, but high probability of success.