Tesla Inc. closed at 368.16 USD, up 3.98 % from the prior session.
The session featured a dominant bullish signal: a $4.21 million purchase of long-dated $500 calls expiring in March 2027. This outweighed a smaller bearish call spread that collected $55,000 in net credit, as well as scattered protective put activity. Overall, institutional flow tilted constructive, with traders paying meaningful premium for upside exposure despite some near-term hedging.
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Options Indicators
TSLA’s implied volatility is 45.71%, and with an IV percentile of 10.76%, current option volatility sits near the low end of its historical range, indicating options are cheaply priced rather than expensive. At the same time, the IV/HV ratio of 0.90 suggests implied volatility is running slightly below realized volatility, reinforcing the view that the premium embedded in TSLA options is relatively modest at current levels.
The Call/Put volume ratio is 1.91.
Large Trades
A CALL buy worth $4.21 million was the standout large trade of the day, with 2,500 contracts of the March 19, 2027 $500.00 call purchased. With TSLA referenced at $368.16, this strike sits out-of-the-money, making it a clearly bullish upside bet that targets a substantial rally over a long-dated horizon. The buyer is paying premium for convex upside exposure rather than seeking immediate intrinsic value, which suggests confidence in a meaningful medium- to long-term appreciation scenario.
A bearish call spread with a net credit of $55,000 was also prominently displayed, built by selling 1,573 contracts of the September 11, 2026 $387.50 call and buying 1,573 contracts of the September 11, 2026 $392.50 call. Both strikes are out-of-the-money versus the $368.16 reference price, and the structure reflects a premium-collection strategy that benefits if TSLA stays below the short strike or at least fails to stage an outsized advance into expiration. This is a defined-risk bearish to neutral stance, indicating the trader expects limited upside and is willing to cap risk while collecting credit.
Overall, the large-trade picture leans bullish. The dominant feature was the very large long-dated $500.00 call purchase, which outweighed the smaller bearish premium-selling and protective put activity seen elsewhere in the flow. While there was noticeable downside caution through bearish call selling and put buying, the strongest institutional signal came from traders paying meaningful premium for upside exposure, suggesting market sentiment is tilted toward a constructive longer-term view on TSLA even as some participants hedge or fade near-term upside.
Strategy Reference
Given the low IV percentile, a premium seller seeking low assignment probability could consider a short put spread below the $300 level, such as the September 2026 $290/$280 put spread, to collect credit while keeping defined risk and avoiding excessive margin postings.
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