Ahead Of Tesla's Q3 Production Numbers, Options Traders Bet On Further Decline

Tesla, Inc. TSLA shares recorded losses for the quarter, down around 5% for the period.

On CNBC’s "Options Action,"  Mike Khouw of Optimize Advisors said Tesla was the busiest single stock option on Friday.

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There was a buyer of 1,000 of the October 240-puts at an average price of $7.95 per contract, Khouw mentioned.

Traders expect Tesla’s stock to move lower by 7% or more over the next three weeks.

Investors are awaiting the release of production/delivery numbers for the third quarter, due this week.

Company-compiled consensus figures shared by Tesla put deliveries at 455,000 units compared to the Bloomberg-compiled consensus of 457,000 units, said Future Fund’s Gary Black. He estimates more modest deliveries of 445,000 units.

Price Action: Tesla shares gained 1.6% to close at $250.22 on Friday, and added 0.2% in Monday's premarket trading session.

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