Unusual activity in TSLA options was detected today. Traders targeted the $350 calls expiring November 21, 2025. Two large sweep orders show just under 2,000 contracts traded. At the time of these trades, the contract saw a total daily volume of 6,462. Against an open interest of 6,388, this produces a V/OI ratio of 1.01.
The trades were executed above the ask, signaling urgency from buyers. A combined premium of over $5.3 million was committed across the two block buys. Contracts were purchased at prices of $27.77 and $25.43, when TSLA stock was trading between $330 and $335. Comparing the strike ($350) to TSLA’s spot price at the time of trade deems these call options as out of the money.
Volume and Open Interest Data
Trading data for the TSLA options $350 calls expiring November 21, 2025 shows a recent surge in activity. On September 3rd, volume spiked to 7,519 contracts, well above the existing open interest of 6,388. This results in a V/OI above 1.17. This indicates a strong wave of new positioning rather than just rolling or closing trades.
Open interest also climbed by +790 contracts from the previous trading session. The contracts closed at $29.60, up from the prior day’s $24.76. Meanwhile, implied volatility stayed steady around the 51% range. The repeated high-volume bursts and consistently increasing open interest observed in recent trading sessions highlights strong sentiment building around Tesla’s stock into late 2025.
Trade Side Distribution
The trade side distribution for the TSLA options $350 calls expiring November 21, 2025 shows an interesting skew. The majority of flow executed on the buy side. Roughly 49% of trades ($7.5M) hit the ask, while an additional 35% ($5.3M) went off above the ask, highlighting aggressive buying pressure. Only 17% ($2.5M) traded at the bid, and no activity occurred at mid or below. This distribution indicates traders were willing to pay premiums to secure contracts.
Dark Pool Transactions
The dark pool data for TSLA on September 3rd, 2025 reveals two massive block trades executed at $329.36 per share. Each trade represents $50 million in flow, with quantities of 151,807 and 151,808 shares respectively. These back-to-back prints, totaling over $100 million in notional value, highlight significant institutional activity occurring off-exchange.
What’s Happening with TSLA
Tesla has experienced major shifts and challenges in recent days. CEO Elon Musk’s has recently announced that the company will transition its primary focus from electric vehicles (EVs) to artificial intelligence and robotics. He plans for its Optimus humanoid robot initiative to contribute around 80% of Tesla’s future value.
Meanwhile, Tesla’s EV sales in China have continued to slide, dropping 4% in August year-over-year. Although, exports and deliveries from the Shanghai plant rose 22.6% from July. In Europe, Tesla’s sales collapse persisted, with a notable 40% annual decline in July, as competitors like BYD strengthened their position. Investor sentiment remains divided, especially with lingering concerns over Tesla’s Full Self-Driving technology and uncertain sales growth.
About TSLA
Tesla, Inc. is an American multinational company headquartered in Austin, Texas, specializing in electric vehicles, battery energy storage solutions, and solar energy products. Founded in 2003, Tesla designs, manufactures, and sells battery electric vehicles ranging from sedans and SUVs to trucks. They also manufacture stationary battery systems for homes and businesses, and solar panels and solar roof tiles.
The company is recognized as a pioneer in the electric vehicle market. They are known for their focus on innovation, sustainability, and advanced technologies like autopilot and full self-driving features. In addition to automotive products, Tesla is expanding its energy division with large-scale battery storage systems known as Megapacks, aiming to accelerate the global transition to renewable energy.
Analyst Ratings
| Firm | Rating / Stars | Last Update |
|---|---|---|
| CFRA | ★★★ (3-star) – Hold | 08/17/2025 |
| Market Edge | Avoid | 07/30/2025 |
| Argus | Hold | 07/25/2025 |
| Morningstar | ★★ (2-star) – Bearish | 08/08/2025 |
| LSEG | Underperform / Hold | 08/21/2025 |
| Schwab Equity Ratings | F (Strongly Bearish) | 08/22/2025 |
Analyst ratings for Tesla (TSLA) reflect a mixed to cautious sentiment, with most firms leaning neutral or bearish. CFRA assigns a ★★★ (3-star) rating, essentially a Hold outlook. Market Edge is more negative, issuing an Avoid recommendation.
Argus takes a neutral stance with a Hold rating, while Morningstar leans bearish, giving TSLA just ★★ (2-stars). LSEG also signals caution with an Underperform/Hold outlook. The most bearish call comes from Schwab Equity Ratings, which assigns a failing F-rating. Overall, the distribution shows limited bullish conviction, with sentiment ranging from Hold to outright Avoid, suggesting analysts are skeptical about TSLA’s near-term upside potential.
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Disclaimer: Options trading involves significant risk and is not suitable for all investors. You may lose the entire investment, and certain strategies may result in losses exceeding the initial amount invested. Past performance does not guarantee future results. This content is for informational purposes only and should not be considered investment advice. Always consult a financial or tax advisor before making investment decisions.
