A whale with a lot of money to spend has taken a noticeably bearish stance on Tesla.
Looking at options history for Tesla TSLA we detected 305 strange trades.
If we consider the specifics of each trade, it is accurate to state that 40% of the investors opened trades with bullish expectations and 59% with bearish.
From the overall spotted trades, 163 are puts, for a total amount of $19,671,978 and 142, calls, for a total amount of $11,496,286.
What’s The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $180.0 to $758.33 for Tesla over the last 3 months.
Volume & Open Interest Development
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Tesla’s options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Tesla’s whale activity within a strike price range from $180.0 to $758.33 in the last 30 days.
Tesla Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| TSLA | PUT | TRADE | NEUTRAL | 06/21/24 | $633.33 | $350.1K | 1.7K | 118 |
| TSLA | PUT | SWEEP | BEARISH | 08/26/22 | $295.00 | $253.1K | 9.5K | 75.3K |
| TSLA | PUT | TRADE | NEUTRAL | 06/21/24 | $750.00 | $230.7K | 367 | 75 |
| TSLA | CALL | SWEEP | BEARISH | 09/02/22 | $280.00 | $221.9K | 882 | 1.4K |
| TSLA | CALL | SWEEP | BULLISH | 10/21/22 | $290.00 | $214.6K | 367 | 2.8K |
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| TSLA | PUT | TRADE | NEUTRAL | 06/21/24 | $633.33 | $350.1K | 1.7K | 118 |
| TSLA | PUT | SWEEP | BEARISH | 08/26/22 | $295.00 | $253.1K | 9.5K | 75.3K |
| TSLA | PUT | TRADE | NEUTRAL | 06/21/24 | $750.00 | $230.7K | 367 | 75 |
| TSLA | CALL | SWEEP | BEARISH | 09/02/22 | $280.00 | $221.9K | 882 | 1.4K |
| TSLA | CALL | SWEEP | BULLISH | 10/21/22 | $290.00 | $214.6K | 367 | 2.8K |
Where Is Tesla Standing Right Now?
- With a volume of 56,050,845, the price of TSLA is down -2.7% at $288.09.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 54 days.
What The Experts Say On Tesla:
- Jefferies has decided to maintain their Buy rating on Tesla, which currently sits at a price target of $350.
- Berenberg has decided to maintain their Hold rating on Tesla, which currently sits at a price target of $290.
- Morgan Stanley has decided to maintain their Overweight rating on Tesla, which currently sits at a price target of $383.
- Wedbush has decided to maintain their Outperform rating on Tesla, which currently sits at a price target of $360.
- Citigroup has decided to maintain their Sell rating on Tesla, which currently sits at a price target of $424.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Tesla, Benzinga Pro gives you real-time options trades alerts.
Image and article originally from www.benzinga.com. Read the original article here.