On CNBC's Options Action, Mike Khouw said that the call options trading volume in Tesla Motors Inc TSLA was two times higher than the average daily call options volume.
The most active option on Wednesday was the December 240 call and traders were paying $2.60 on average for them. The break even for the trade is at $242.60 or approximately 2 percent higher from the closing price on Wednesday.
The stock closed previous two trading sessions higher and buyers of the December 240 calls are hoping that this streak is going to extend to three sessions in a row.
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