The biggest single trade in Tesla options at midafternoon Monday was a bet that looks for the electric-car maker’s shares to soar more than 31% through the end of the week. Nine of the 10 most-actively traded contracts were ones that also looked for shares to move higher, though more conservatively so, to profit.
“It’s been as wild as I’ve ever seen it around earnings,” William Lefkowitz, options strategist at asset management and brokerage firm National Securities, said of the trading in and prices of Tesla options Monday. “People are looking for big swings,” he said.
Tesla shares gained $13.03, or 8%, to $175.02 Monday. That leaves the stock up 417% so far this year, but 9.5% below its closing record of $193.37 seen Sept. 30.
Disclaimer: long TSLA