This one could be used on Tesla as it is right in the middle of its potential target range betwwen 310 to 390.
With Tesla at 350, you can do Oct 24th option (1 week after its earning).
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Sell Call spread (sell call 360 / buy call 390)
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Sell Put spread (sell put 340 / buy put 310)
This combo together gives you about $20 credit.
Profit and Loss situation
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Profit range: As long as Tsla stays within 320 to 380 range by Oct 24th, you are profitable. Even further, if TSLA is right between 340 to 360, you keep the entire $20 credit as profit, this is your max profit
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Loss range: If TSLA drops below 320 or above 380 by Oct 24th, you start to lose money, but your max loss is $10, occured when TSLA cross 390 on the upside, or 310 on the downside
