Deep-pocketed investors have adopted a bearish approach towards Tesla TSLA, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in TSLA usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 200 extraordinary options activities for Tesla. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 40% leaning bullish and 42% bearish. Among these notable options, 38 are puts, totaling $1,986,681, and 162 are calls, amounting to $9,496,710.
Projected Price Targets
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $155.0 and $270.0 for Tesla, spanning the last three months.
Volume & Open Interest Trends
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Tesla's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Tesla's whale trades within a strike price range from $155.0 to $270.0 in the last 30 days.
Tesla 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| TSLA | CALL | SWEEP | BEARISH | 08/23/24 | $4.75 | $4.65 | $4.71 | $220.00 | $212.0K | 9.7K | 7.7K |
| TSLA | PUT | TRADE | BULLISH | 08/23/24 | $5.65 | $5.55 | $5.58 | $215.00 | $195.3K | 3.0K | 3.9K |
| TSLA | CALL | TRADE | BEARISH | 09/20/24 | $11.85 | $11.75 | $11.75 | $220.00 | $176.2K | 22.7K | 1.3K |
| TSLA | CALL | SWEEP | NEUTRAL | 08/23/24 | $3.2 | $3.1 | $3.17 | $225.00 | $157.2K | 7.0K | 3.0K |
| TSLA | CALL | SWEEP | NEUTRAL | 08/16/24 | $1.73 | $1.72 | $1.72 | $217.50 | $103.4K | 9.0K | 37.3K |
About Tesla
Tesla is a vertically integrated battery electric vehicle automaker and developer of autonomous driving software. The company has multiple vehicles in its fleet, which include luxury and midsize sedans, crossover SUVs, a light truck, and a semi-truck. Tesla also plans to begin selling more affordable vehicles, and a sports car. Global deliveries in 2023 were a little over 1.8 million vehicles. The company also sells batteries for stationary storage for residential and commercial properties including utilities and solar panels and solar roofs for energy generation. Tesla also owns a fast-charging network.
In light of the recent options history for Tesla, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Present Market Standing of Tesla
- With a trading volume of 4,214,338, the price of TSLA is down by -0.78%, reaching $212.48.
- Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
- Next earnings report is scheduled for 61 days from now.
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 want to stay updated on the latest options trades for Tesla, Benzinga Pro gives you real-time options trades alerts.
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