Tesla Options Trader Betting On Stock Rallying By End Of Next Week As Musk Announces France Plans

Tesla, Inc. TSLA shares closed lower during Monday’s trading session.

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

Don’t forget to check out our premarket coverage here

There were buyers of 25,500 of the May 26 weekly 170-calls at an average price of $4.75 per contract, Khouw mentioned.

The trader expects Tesla’s stock to rise around 5% by the end of next week.

CEO Elon Musk said on Monday the EV-maker will make significant investments in France but added he could not give a timetable, according to a Reuters report. Musk met with French President Emmanuel Macron in Versailles during a gathering of global business leaders.

Price Action: Tesla shares fell 1% to close at $166.35 on Monday, but added 0.3% in Tuesday's premarket trading session.

Check This Out: Home Depot, Capital One Financial And 3 Stocks To Watch Heading Into Tuesday

Photo: Shutterstock