Tesla Motors Inc (NASDAQ:TSLA) Model S has been remodeled to give a new look and feel by Unplugged Performance, who is continuously making efforts to achieve its goal of becoming the “AMG of Tesla.” The modified Model S, which has a new face and interiors, will be unveiled by Unplugged Performance at SEMA this week, says a report from Auto Blog Green.
Modified Tesla Model S
According to Unplugged Performance, the new oval plastic nosecase is just a small tweak among many other changes. The modified Tesla Model S is equipped with new sports headlights and 21-inch UP-01 wheels, but the major changes are in the interior. Unplugged Performance mentions that it dispensed of nearly all of the original Tesla “innards” and “completely reimagined [the interior] for higher performance and more luxurious grade materials.” This indicates that there are many visible changes such as sports seats in Italian Alcantara material and “luxury floor mats,” that have “plush Rolls Royce carpet and Ferrari leather detailing.”
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Additionally, some changes have been made in performance such as prototype suspension components and new, prototype sports brake pads that according to the company will improve the car’s driving dynamics.
Option trader’s defensive before Tesla earnings
Options traders are playing defense ahead of Tesla Motors third-quarter earnings, says the WSJ. The company is expected to post third quarter earnings on Wednesday after the bell. The electronic vehicle manufacturer is expected to post an adjusted loss of one cent per share while adjusted revenue is expected to increase 48% to $889 million. “The options market is setting up defensively” ahead of Tesla’s earnings, said Jim Strugger, a derivatives strategist at MKM Partners.
According to Trade Alert, the open interest put-to-call ratio, or the number of put contracts against call contracts was 1.43 on Tuesday afternoon. On the basis of an options strategy called a straddle, the options market is suggesting a move of 8.8% in the stock through Friday. Though the suggested move is large, Tesla had seen much bigger moves before. According to the data from Trade Alert, the average move for Tesla post-earnings is around 11.9% over the last eight quarters.
After posting earnings in August, Tesla Motors Inc (NASDAQ:TSLA) stock rose 4.5%, while in May 2013 the stock surged 24% after earnings.Tesla shares were down 1.5% on Tuesday. So far in the fourth-quarter, the stock has lost 2%, but year to date shares are up over 58%.