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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 432 strange trades.
If we consider the specifics of each trade, it is accurate to state that 49% of the investors opened trades with bullish expectations and 50% with bearish.
From the overall spotted trades, 241 are puts, for a total amount of $20,992,737 and 191, calls, for a total amount of $19,668,274.
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 $30.0 to $300.0 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 $30.0 to $300.0 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 | CALL | SWEEP | BULLISH | 01/06/23 | $114.00 | $4.1M | 6.8K | 38.9K |
| TSLA | CALL | SWEEP | BEARISH | 01/06/23 | $110.00 | $328.0K | 16.7K | 67.9K |
| TSLA | PUT | TRADE | NEUTRAL | 01/19/24 | $263.33 | $225.9K | 1.7K | 351 |
| TSLA | CALL | SWEEP | BULLISH | 01/13/23 | $115.00 | $125.3K | 4.4K | 9.9K |
| TSLA | CALL | TRADE | BEARISH | 07/21/23 | $60.00 | $118.0K | 48 | 20 |
Where Is Tesla Standing Right Now?
- With a volume of 144,233,470, the price of TSLA is up 4.33% at $112.78.
- RSI indicators hint that the underlying stock may be oversold.
- Next earnings are expected to be released in 21 days.
What The Experts Say On Tesla:
- Baird has decided to maintain their Outperform rating on Tesla, which currently sits at a price target of $252.
- Deutsche Bank has decided to maintain their Buy rating on Tesla, which currently sits at a price target of $270.
- RBC Capital has decided to maintain their Outperform rating on Tesla, which currently sits at a price target of $225.
- Mizuho has decided to maintain their Buy rating on Tesla, which currently sits at a price target of $285.
- Goldman Sachs has decided to maintain their Buy rating on Tesla, which currently sits at a price target of $205.
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.
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Image and article originally from www.benzinga.com. Read the original article here.