Deep-pocketed investors have adopted a bearish approach towards Tesla TSLA, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in TSLA usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 495 extraordinary options activities for Tesla. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 39% leaning bullish and 48% bearish. Among these notable options, 224 are puts, totaling $13,701,711, and 271 are calls, amounting to $20,817,562.
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 $150.0 to $520.0 for Tesla over the last 3 months.
Analyzing Volume & Open Interest
In today's trading context, the average open interest for options of Tesla stands at 7621.59, with a total volume reaching 10,126,201.00. 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 $150.0 to $520.0, throughout the last 30 days.
Tesla 30-Day Option Volume & Interest Snapshot
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 | 11/15/24 | $6.3 | $6.2 | $6.3 | $275.00 | $609.2K | 14.0K | 10.1K |
| TSLA | PUT | SWEEP | BEARISH | 01/17/25 | $21.05 | $20.95 | $21.0 | $255.00 | $369.6K | 6.5K | 837 |
| TSLA | PUT | SWEEP | BULLISH | 11/01/24 | $29.15 | $29.05 | $29.05 | $287.50 | $261.7K | 670 | 196 |
| TSLA | CALL | SWEEP | BEARISH | 11/01/24 | $4.9 | $4.85 | $4.85 | $260.00 | $239.5K | 10.6K | 84.3K |
| TSLA | CALL | SWEEP | BULLISH | 11/01/24 | $4.3 | $4.25 | $4.3 | $260.00 | $200.6K | 10.6K | 78.5K |
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, a sports car, and a robotaxi. Global deliveries in 2023 were a little over 1.8 million vehicles. The company 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.
Present Market Standing of Tesla
- With a trading volume of 59,716,884, the price of TSLA is down by -1.53%, reaching $258.48.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 85 days from now.
Professional Analyst Ratings for Tesla
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $143.972.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * An analyst from Cantor Fitzgerald downgraded its action to Neutral with a price target of $245. * An analyst from Cantor Fitzgerald downgraded its action to Neutral with a price target of $245. * In a cautious move, an analyst from Bernstein downgraded its rating to Underperform, setting a price target of $120. * An analyst from GLJ Research downgraded its action to Sell with a price target of $24. * An analyst from Roth MKM downgraded its action to Neutral with a price target of $85.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Tesla, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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