The TSLA options chain shows an unusual trade for the $475 strike call expiring November 21, 2025. With TSLA stock trading at $372.13 at the time of the trade, this call option is significantly out-of-the-money. Regardless, traders committed large capital toward it. The order size was 994 contracts, priced at $11.02, translating to a premium of about $1.1 million. At the time of trade, the total volume on this contract reached 2,000 contracts. This is substantially higher than the current open interest of 1,524. The figures result in a V/OI ratio greater than 1.3.
The trade was executed as a sweep order, indicating urgency in execution across multiple exchanges. Such execution strategy is often associated with institutional players who want immediate exposure. The strike price of $475 represents a significant rally from the current level. The size of the premium paid highlights a willingness to commit substantial capital on the expectation of TSLA making strong moves in the short term.
Volume and Open Interest Data
The TSLA options historical data for the $475 call expiring 11/21/2025 highlight a massive surge in trading activity on September 12th. Volume spiked to 7,074 contracts compared to open interest of only 1,524. This creates a notable V/OI ratio well above 4.6.
The option’s price also jumped sharply, closing at $16.30, up from $9.65 the prior day. The move reflects increased demand as implied volatility also experienced a rise over the same period (62.63% from 58.68%). Such heavy volume far outpacing open interest signals aggressive speculative positioning, suggesting traders are betting on a meaningful move in TSLA over the short-term horizon.
Trade Side Distribution
TSLA options trade side distribution for the $475 call expiring 11/21/2025 reveals a heavy concentration of activity on the bid side, totaling $3.4 million (40%). However, there was also notable buying interest, with $2.1 million (25%) executed at the ask and an additional $1.1 million (13%) executed above the ask. The remaining trades occurred in the mid ($1.6M, 19%) and below bid ($315K, 4%) ranges.
More Notable Options Trades Observed
The TSLA options flow highlighted another large bullish sweep order in the $425 call expiring November 21, 2025. The trade involved 708 contracts at a premium of $27.62 per contract, totaling nearly $2 million in committed premium. With TSLA stock trading at $387.45 at the time, this strike is only moderately out-of-the-money. This makes it a more conservative upside target compared to the deeper call option mentioned earlier.
The volume for the day reached 2,618 contracts, closely matching the existing open interest of 2,636. The use of a sweep order highlights urgency in execution, often tied to institutional participation. Overall, this trade reflects strong conviction, with buyers positioning for TSLA to move significantly by late 2025.
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 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.
