Tesla's Options: A Look at What the Big Money is Thinking

Investors with a lot of money to spend have taken a bullish 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 867 uncommon options trades for Tesla.

This isn't normal.

The overall sentiment of these big-money traders is split between 45% bullish and 38%, bearish.

Out of all of the special options we uncovered, 202 are puts, for a total amount of $11,771,300, and 665 are calls, for a total amount of $67,629,950.

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Predicted Price Range

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $60.0 to $700.0 for Tesla during the past quarter.

Insights into Volume & Open Interest

In today's trading context, the average open interest for options of Tesla stands at 5748.76, with a total volume reaching 29,972,465.00. 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 $60.0 to $700.0, throughout the last 30 days.

Tesla Option Volume And Open Interest Over Last 30 Days

Largest Options Trades Observed:

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.

After a thorough review of the options trading surrounding Tesla, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Where Is Tesla Standing Right Now?

• With a trading volume of 50,937,186, the price of TSLA is up by 6.41%, reaching $276.14.
• Current RSI values indicate that the stock is may be approaching overbought.
• Next earnings report is scheduled for 88 days from now.

What Analysts Are Saying About Tesla

5 market experts have recently issued ratings for this stock, with a consensus target price of $274.41.

Unusual Options Activity Detected: Smart Money on the Move

Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * An analyst from Deutsche Bank persists with their Buy rating on Tesla, maintaining a target price of $345. * Consistent in their evaluation, an analyst from Cantor Fitzgerald keeps a Overweight rating on Tesla with a target price of $355. * An analyst from GLJ Research persists with their Sell rating on Tesla, maintaining a target price of $19. * An analyst from Canaccord Genuity has decided to maintain their Buy rating on Tesla, which currently sits at a price target of $303. * Reflecting concerns, an analyst from Benchmark lowers its rating to Buy with a new price target of $350.

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.