Financial giants have made a conspicuous bullish move on Tesla. Our analysis of options history for Tesla TSLA revealed 79 unusual trades.
Delving into the details, we found 50% of traders were bullish, while 39% showed bearish tendencies. Out of all the trades we spotted, 19 were puts, with a value of $794,190, and 60 were calls, valued at $3,322,559.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $210.0 to $230.0 for Tesla over the last 3 months.
Insights into Volume & Open Interest
In today's trading context, the average open interest for options of Tesla stands at 11472.39, with a total volume reaching 663,825.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Tesla, situated within the strike price corridor from $210.0 to $230.0, throughout the last 30 days.
Tesla Option Volume And Open Interest Over Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| TSLA | CALL | SWEEP | BEARISH | 08/30/24 | $3.85 | $3.8 | $3.8 | $230.00 | $203.3K | 11.6K | 3.0K |
| TSLA | CALL | SWEEP | BEARISH | 08/23/24 | $2.12 | $2.09 | $2.09 | $225.00 | $93.9K | 18.8K | 26.4K |
| TSLA | PUT | SWEEP | BEARISH | 08/23/24 | $2.2 | $2.17 | $2.2 | $220.00 | $89.1K | 10.5K | 8.1K |
| TSLA | PUT | SWEEP | BULLISH | 08/23/24 | $4.35 | $4.3 | $4.3 | $225.00 | $86.0K | 4.7K | 1.5K |
| TSLA | CALL | TRADE | BEARISH | 08/30/24 | $8.55 | $8.5 | $8.5 | $220.00 | $85.0K | 5.8K | 1.0K |
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.
In light of the recent options history for Tesla, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Where Is Tesla Standing Right Now?
- Trading volume stands at 8,109,218, with TSLA's price down by -0.3%, positioned at $222.6.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 55 days.
What The Experts Say On Tesla
In the last month, 5 experts released ratings on this stock with an average target price of $263.6.
- An analyst from Cantor Fitzgerald has revised its rating downward to Neutral, adjusting the price target to $245.
- An analyst from Citigroup has decided to maintain their Neutral rating on Tesla, which currently sits at a price target of $258.
- An analyst from Truist Securities persists with their Hold rating on Tesla, maintaining a target price of $215.
- Maintaining their stance, an analyst from Piper Sandler continues to hold a Overweight rating for Tesla, targeting a price of $300.
- Consistent in their evaluation, an analyst from Piper Sandler keeps a Overweight rating on Tesla with a target price of $300.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Tesla with Benzinga Pro for real-time alerts.
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