Looking At Tesla's Recent Whale Trades

Someone with a lot of money to spend (and possibly insider knowledge) has taken a bearish stance on TeslaTSLA.

And retail traders should know.

We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Whether this is an institution or just a wealthy individual, 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 this whale just did?

Today, Benzinga's options scanner spotted 93 uncommon options trades for Tesla.

This isn't normal.

The overall sentiment of these big-money traders is split between 37.63% bullish and 62.37%, bearish.

Out of all of the special options we uncovered, 58 are puts, for a total amount of $22,280,870, and 35 are calls, for a total amount of $10,451,794.

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 $650.0 to $960.0 for Tesla over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Tesla options trades today is 11500.766666666666 with a total volume of 1,462,750.

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 $650.0 to $960.0 over the last 30 days.

Tesla Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Where Is Tesla Standing Right Now?

• With a volume of 7,578,600, the price of TSLA is up 0.93% at $792.83.
• RSI indicators hint that the underlying stock may be approaching overbought.
• Next earnings are expected to be released in 9 days.

What The Experts Say On Tesla:

• Tudor Pickering downgraded its action to Sell with a price target of $537.0
• Canaccord Genuity has decided to maintain their Buy rating on Tesla, which currently sits at a price target of $940.0.
• RBC Capital has decided to maintain their Sector Perform rating on Tesla, which currently sits at a price target of $755.0.

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 are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.