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Tesla, Inc. (NASDAQ:TSLA) posted in-line earnings for its first quarter, but sales topped estimates. The company also reported a decrease in operating margins.
On CNBC’s "Options Action," Mike Khouw of Optimize Advisors, said Tesla was the most active single stock on Thursday.
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There were buyers of 54,572 of the April 28 weekly 160-puts at an average price of $3.21 per contract, Khouw mentioned.
The traders expects Tesla’s stock to continue to lose ground through the end of next week.
Other automakers, including, Lucid Group, Inc. (NASDAQ:LCID), NIO Inc. (NYSE:NIO), and Rivian Automotive, Inc. (NASDAQ:RIVN) also traded lower on Thursday in sympathy with EV-competitor Tesla.
Price Action: Tesla shares dipped 9.7% to close at $162.99 on Thursday.
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