On CNBC's "Options Action," Mike Khouw said that Tesla Inc (NASDAQ:TSLA), which had sold a record 56,000 cars in China in September, was the most active single-stock option. It beat Apple Inc (NASDAQ:AAPL) by around 400,000 contracts, reaching 1.36 million contracts.
Tesla has been the most active and consistently so for quite some time now. There was short-dated activity earlier, but this week the most active are the Oct. 810 and 820 calls.
See Also: Looking At Tesla's Recent Whale Trades
The company is set to report earnings next week. Right now, the options market is implying a move of approximately 7.7% by Oct. 21.
The active options that expire next week are the 750 strike puts. There were 40,000 contracts trading at around $16 a contract. Traders may be expressing that Tesla’s earnings may pause the stock rally and lead to some pullback.
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