Investors with a lot of money to spend have taken a bullish stance on Tesla (NASDAQ:TSLA).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with TSLA, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 273 uncommon options trades for Tesla.
This isn't normal.
The overall sentiment of these big-money traders is split between 47% bullish and 42%, bearish.
Out of all of the special options we uncovered, 82 are puts, for a total amount of $6,184,913, and 191 are calls, for a total amount of $10,497,877.
Projected Price Targets
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $10.0 and $400.0 for Tesla, spanning the last three months.
Analyzing Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Tesla options trades today is 10839.63 with a total volume of 2,961,280.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Tesla's big money trades within a strike price range of $10.0 to $400.0 over the last 30 days.
Tesla Option Volume And Open Interest Over Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| TSLA | CALL | SWEEP | BULLISH | 10/18/24 | $5.3 | $5.25 | $5.25 | $300.00 | $285.5K | 31.2K | 1.7K |
| TSLA | PUT | SWEEP | BEARISH | 10/11/24 | $23.9 | $23.85 | $23.9 | $270.00 | $195.9K | 74 | 87 |
| TSLA | CALL | SWEEP | BULLISH | 10/18/24 | $12.55 | $12.5 | $12.55 | $270.00 | $165.6K | 10.8K | 1.3K |
| TSLA | CALL | SWEEP | NEUTRAL | 10/18/24 | $12.6 | $12.55 | $12.55 | $270.00 | $151.8K | 10.8K | 1.5K |
| TSLA | CALL | SWEEP | BULLISH | 09/27/24 | $4.0 | $3.9 | $3.95 | $257.50 | $125.7K | 7.2K | 22.2K |
About Tesla
Tesla is a vertically integrated battery electric vehicle automaker and developer of autonomous driving software. The company has multiple vehicles in its fleet, which include luxury and midsize sedans, crossover SUVs, a light truck, and a semi-truck. Tesla also plans to begin selling more affordable vehicles, and a sports car. Global deliveries in 2023 were a little over 1.8 million vehicles. The company also sells batteries for stationary storage for residential and commercial properties including utilities and solar panels and solar roofs for energy generation. Tesla also owns a fast-charging network.
Following our analysis of the options activities associated with Tesla, we pivot to a closer look at the company's own performance.
Where Is Tesla Standing Right Now?
- Currently trading with a volume of 23,329,984, the TSLA's price is up by 0.22%, now at $254.82.
- RSI readings suggest the stock is currently may be overbought.
- Anticipated earnings release is in 21 days.
Unusual Options Activity Detected: Smart Money on the Move
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Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Tesla options trades with real-time alerts from Benzinga Pro.