Is There More Upside To Tesla's Stock After Thursday's Rally?

Shares of Tesla Inc TSLA jumped almost 5% on Thursday, after Goldman Sachs maintained a Buy rating for the EV maker. Some traders are betting the stock may rise further.

On CNBC's "Options Action," Michael Khouw of Optimize Advisors said Tesla was the busiest single-stock options, trading over 1.5 million contracts.

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There were buyers of 124,500 of the June 3 weekly 800 calls at $5.72 per contract on average, Khouw mentioned. Trades see shares of Tesla rising at least 4% by Friday’s close, he added.

TSLA Price Action: Despite the gains on Thursday, shares of Tesla have lost more than 35% year to date.