Tesla Chase Has Options Traders at Their Most Optimistic Since 2021

Options traders are trying to ride Tesla shares’ hot streak, though the stretch of daily gains may soon snap.

The stock, recently down less than 1%, finished Tuesday on a 13-day win streak, its longest on record. Meanwhile skew, an options-based measure of pessimism vs. optimism tied to the stock, has fallen to its lowest level since January 2021, according to Cboe data.

That reflects a growing demand for bullish call options, which give the right to buy shares at a certain price and date, tied to Tesla stock, relative to bearish put options, which confer the right to sell.