How I’m Playing Tesla, Intel and Google Earnings This Week

by Chris Pulver | Apr 22, 2025

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Earnings season is in full swing, and this week we’ve got three of my favorite setups for short-term trades built around premium, structure and volatility crush…

Tesla (TSLA), Intel (INTC) and Google parent Alphabet (GOOGL). All of them are packed with elevated implied volatility — and that makes them ideal for defined-risk plays that get in and out quickly.

Let’s break them down one by one.

Tesla: Hedged and Uncapped Into the Print

I’m already positioned in Tesla after getting assigned around $7,000. To protect the downside going into earnings, I bought three contracts of the 150-strike puts. That gives me roughly $483 of defined risk with plenty of upside still on the table. If Tesla rips, great — my break-even sits around $252 and the upside is uncapped.

But if it tanks — and based on the expected move, it easily could — the puts kick in and help reduce the damage. It’s a classic example of why I like asymmetric trades around earnings.

I’m risking less than $500 for the potential of a big pop, while having a cushion if things go south.

Intel: Waiting for the Right Fill

I tried to price in a one-day expiration trade for Intel earlier this week, but the fill wasn’t there. Premiums were decent, but I couldn’t get what I wanted — so I stepped back.

No harm in waiting. I’ll take another look Thursday afternoon when the pricing lines up with expected moves.

I don’t want to chase a setup just because it’s there. The range has to make sense, and I need that trade to work within a very short time frame.

It’s not about being right on direction — it’s about taking advantage of the inflated volatility and fading the move as long as it stays within range.

Google: Watch the Clock and the Range

Same playbook for Google — wait until the final stretch Thursday and see how the premiums look. This one is likely to move, but not as wildly as Tesla. If I can find a solid iron condor or a broken wing butterfly that pays well and gives me a realistic range, I’ll take it.

But if the structure’s not there or the fill is garbage, I walk. These are tactical trades. They’re not about conviction — they’re about timing and structure. No liquidity, no trade.

The market is all over the place right now. Bonds are broken, yields are up and sentiment is deeply bearish. That’s not a great setup for heavy directional exposure. So I’m leaning into these earnings setups as short-term cashflow trades — take the premium, get out, move on.

And as always — keep the size reasonable, risk defined and don’t overstay your welcome.

I’ll see you in the markets.

Chris Pulver
Chris Pulver Trading

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