Why Tesla Options Suggest Stock Could Rise 65% To Reach April Highs

On CNBC's "Options Action," Michael Khouw of Optimize Advisors said that Tesla Inc. TSLA was the busiest single stock option on Thursday, trading over 1 million contracts higher than Apple Inc. AAPL.

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There was a buyer of 30,300 of the January 2024 350/360 call spreads at an average price of $1.47 per contract, Khouw mentioned. The trader bet about $5 million that Tesla would rise by at least 65% by January expiration, he added.

TSLA Price Action: Shares of Tesla rose by 2.06% to close at $221.72 on Thursday.

Photo courtesy of Tesla.