Ahead Of Tesla's Q3 Production Numbers, Options Traders Bet On Further Decline

Tesla, Inc. TSLA shares recorded losses for the quarter, down around 5% for the period.

On CNBC’s "Options Action,"  Mike Khouw of Optimize Advisors said Tesla was the busiest single stock option on Friday.

Don’t forget to check out our premarket coverage here

There was a buyer of 1,000 of the October 240-puts at an average price of $7.95 per contract, Khouw mentioned.

Traders expect Tesla’s stock to move lower by 7% or more over the next three weeks.

Investors are awaiting the release of production/delivery numbers for the third quarter, due this week.

Company-compiled consensus figures shared by Tesla put deliveries at 455,000 units compared to the Bloomberg-compiled consensus of 457,000 units, said Future Fund’s Gary Black. He estimates more modest deliveries of 445,000 units.

Price Action: Tesla shares gained 1.6% to close at $250.22 on Friday, and added 0.2% in Monday's premarket trading session.

Check This Out: Top 4 Tech And Telecom Stocks That May Rocket Higher This Quarter

Photo: Shutterstock

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date of Trade
ticker
Put/Call
Strike Price
DTE
Sentiment
Posted In: Long IdeasNewsOptionsMarketsMediaTrading IdeasCNBCMike KhouwOptions Action
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!