Earnings Beat TSLA Trade

Market Context
Good day Insiders,

Earnings season is in full swing and Telsa Motors (TSLA) is reporting today post the close. At the time of this update, TSLA is hovering around 258 and with implied volatility levels being at 115% we are looking at an expected move of +/-$21. This gives us the potential to see TSLA go down to 237 and up to 279, accordingly, we have built our trade. We are switching it up a bit here we are going to be using less risk on the downside. We have sold a put spread, bought a call spread, and bought a put butterfly.
The Trade
We are selling the put spread, the buying of the call spread and put butterfly.

Risk & Reward
Our trade will use $5,000 in margin and our breakevens are 245 and 279. We have downside protection until the 222 level. In the event TSLA doesn’t move, we have $488 of risk.