Smart Money Is Betting Big In TSLA Options

Investors with a lot of money to spend have taken a bearish stance on Tesla TSLA.

And retail traders should know.

We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.

Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with TSLA, it often means somebody knows something is about to happen.

So how do we know what these investors just did?

Today, Benzinga's options scanner spotted 1000 uncommon options trades for Tesla.

This isn't normal.

The overall sentiment of these big-money traders is split between 42% bullish and 43%, bearish.

Out of all of the special options we uncovered, 588 are puts, for a total amount of $33,611,835, and 412 are calls, for a total amount of $24,505,639.

Predicted Price Range

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $220.0 to $960.0 for Tesla over the recent three months.

Volume & Open Interest Development

In today's trading context, the average open interest for options of Tesla stands at 6722.74, with a total volume reaching 32,472,883.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Tesla, situated within the strike price corridor from $220.0 to $960.0, throughout the last 30 days.

Tesla 30-Day Option Volume & Interest Snapshot

Biggest Options Spotted:

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, a sports car, and offer a robotaxi service. Global deliveries in 2024 were a little below 1.8 million vehicles. The company 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.

Having examined the options trading patterns of Tesla, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Tesla's Current Market Status

• With a trading volume of 70,461,700, the price of TSLA is down by -3.48%, reaching $263.63.
• Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
• Next earnings report is scheduled for 25 days from now.

What Analysts Are Saying About Tesla

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $449.0.

Turn $1000 into $1270 in just 20 days?

20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * Reflecting concerns, an analyst from Wedbush lowers its rating to Outperform with a new price target of $550. * Showing optimism, an analyst from Cantor Fitzgerald upgrades its rating to Overweight with a revised price target of $425. * An analyst from Wedbush downgraded its action to Outperform with a price target of $550. * An analyst from Guggenheim persists with their Sell rating on Tesla, maintaining a target price of $170. * In a cautious move, an analyst from Wedbush downgraded its rating to Outperform, setting a price target of $550.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Tesla with Benzinga Pro for real-time alerts.