8 Ways to Trade Tesla Stock Using ETFs (and without using options)

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by Fred Fuld III

2 minute read time

Did you know that there are eight different ways to trade Tesla (TSLA) using ETFs, and without using options?

That’s right. In addition to just buying and shorting the Tesla stock, there are other ways to speculate on the price of Tesla. 

These ETFs are especially useful for those who do not want to trade options or are not eligible to trade options. These are also beneficial to traders who want to short TSLA in their IRA account (in which shorting is prohibited).

So what are the alternatives?

Here’s an overview of the Tesla ETFs, all of which track Tesla (TSLA) with varying leverage or inverse positions:

• AXS TSLA Bear Daily ETF(TSLQ): This fund provides 2x inverse (-200%) exposure to Tesla’s daily performance. It is a short-term tool for sophisticated investors who want to profit from Tesla’s price decline. It carries a 1.15% expense ratio, and due to its high volatility (361.41% over 5 days), it’s intended for daily rebalancing​(GraniteShares)​.
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• YieldMax TSLA Option Income Strategy ETF (TSLY): This ETF seeks to generate monthly income by selling covered call options on Tesla stock. It is an income-focused strategy rather than a leveraged or inverse play​(ETFdb).
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• Direxion Daily TSLA Bull 2X ETF (TSLL): This fund offers 2x the daily performance of Tesla’s stock. Like other leveraged ETFs, it’s designed for short-term traders and rebalances daily. It carries a higher risk due to its leverage​(ETFdb).
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• GraniteShares 1.5X Short TSLA Daily ETF (TSDD): Aims to deliver 1.5x inverse (-150%) of Tesla’s daily returns. This is a tool for shorting Tesla’s price moves with moderate leverage​(GraniteShares).
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• GraniteShares 1.75X Long TSLA ETF (TSLR): This ETF targets 1.75x the daily performance of Tesla’s stock, providing bullish investors with leveraged exposure​(GraniteShares).
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• T Rex 2X Inverse TSLA Daily Target ETF (TSLZ): Offers 2x inverse (-200%) exposure, designed to short Tesla’s price movements on a daily basis. It’s useful for those expecting Tesla’s stock to decline​(GraniteShares).
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• T Rex 2X Long TSLA Daily Target ETF (TSLT): A bullish play offering 2x Tesla’s daily performance, similar to TSLL but with slightly different mechanics​(GraniteShares).
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• GraniteShares 1.25X TSLA Daily ETF (TSL): Provides 1.25x exposure to Tesla’s daily performance, allowing for moderate bullish leverage​(ETFdb).

Keep in mind, these ETFs are complex and carry high risks, especially the leveraged and inverse funds, which are typically used for short-term trading strategies rather than long-term investments.

Disclosure: Author has a small long position in TSLA. (Small means way less than 100 shares.)