Deep-pocketed investors have adopted a bearish approach towards Tesla TSLA, and it’s something market players shouldn’t ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in TSLA usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga’s options scanner highlighted 31 extraordinary options activities for Tesla. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 35% leaning bullish and 54% bearish. Among these notable options, 9 are puts, totaling $570,642, and 22 are calls, amounting to $1,478,348.
Expected Price Movements
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $335.0 to $500.0 for Tesla during the past quarter.
Volume & Open Interest Development
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Tesla’s options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Tesla’s significant trades, within a strike price range of $335.0 to $500.0, over the past month.
Tesla Option Volume And Open Interest Over Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| TSLA | CALL | SWEEP | NEUTRAL | 11/29/24 | $8.15 | $8.05 | $8.1 | $345.00 | $213.3K | 6.9K | 2.7K |
| TSLA | PUT | SWEEP | BEARISH | 11/22/24 | $4.0 | $3.9 | $3.98 | $340.00 | $205.5K | 10.0K | 8.3K |
| TSLA | CALL | SWEEP | BEARISH | 11/22/24 | $6.55 | $6.4 | $6.4 | $335.00 | $186.7K | 6.2K | 1.3K |
| TSLA | CALL | SWEEP | BEARISH | 11/29/24 | $6.4 | $6.35 | $6.35 | $350.00 | $160.0K | 15.9K | 3.4K |
| TSLA | CALL | SWEEP | BEARISH | 11/22/24 | $6.75 | $6.6 | $6.6 | $335.00 | $145.8K | 6.2K | 1.2K |
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 a robotaxi. Global deliveries in 2023 were a little over 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.
Following our analysis of the options activities associated with Tesla, we pivot to a closer look at the company’s own performance.
Tesla’s Current Market Status
- Trading volume stands at 3,190,024, with TSLA’s price up by 0.88%, positioned at $342.63.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 61 days.
Expert Opinions on Tesla
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $289.6.
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* An analyst from B of A Securities persists with their Buy rating on Tesla, maintaining a target price of $350.
* An analyst from Stifel has decided to maintain their Buy rating on Tesla, which currently sits at a price target of $287.
* An analyst from JP Morgan persists with their Underweight rating on Tesla, maintaining a target price of $135.
* An analyst from Wedbush has decided to maintain their Outperform rating on Tesla, which currently sits at a price target of $400.
* Showing optimism, an analyst from KGI Securities upgrades its rating to Outperform with a revised price target of $276.
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