The options data reveals a significant bullish position in Tesla (TSLA) through January 15, 2027 call options with a $400 strike price. With Tesla’s current spot price at $334.28, these calls are approximately $65.72 out-of-the-money, requiring an 19.7% upward move to reach profitability at expiration. The trade involved 459 contracts with a total premium of $4 million. The order was executed as a sweep at an average price of $86.79 per contract. The volume-to-open-interest ratio stands at 5.6% (531 volume against 9,531 open interest). This indicates moderate but not exceptional trading activity relative to existing positions.
With 571 days remaining until the January 2027 expiration, this LEAPS (Long-term Equity Anticipation Securities) position provides substantial time for Tesla’s stock to appreciate, suggesting the buyer expects significant upward momentum in Tesla’s share price over the next year and a half. The large premium and extended timeframe indicate this is likely an institutional bet on Tesla’s long-term growth prospects.
Volume and Open Interest Data
Daily flow in the TSLA 400-strike January 2027 calls has picked up sharply. After a muted 214-contract print on June 18th (≈ 2% of the 9,891 open-interest pool). Turnover climbed to 762 contracts on June 20th (7.7 % of OI) and then to 915 contracts on June 23rd (9.6 % of OI). Notably, that highest-volume day coincided with a 358-contract drop in open interest (to 9,531). This implies a portion of the flow was profit-taking or rolls that closed existing positions rather than pure fresh buying.
At the same time the contract’s mark-to-market price surged from $79.65 to $98.30 (+23%), while implied volatility eased slightly (≈ 60% IV). This points to bullish delta-driven gains in the option’s value even as demand for volatility itself softened. In short, traders are actively rotating in this LEAPS strike but today’s net OI reduction suggests they were taking some chips off the table after the pop rather than building new, larger long-dated exposure.
More Notable Options Trades Observed
Another notable sweep order hit the tape for 715 contracts of Tesla’s 16 Jan 2026 $500 calls, scooped up at $30.95 apiece while the stock traded at $356.39. That’s a $2.2 million premium outlay (price × contracts × 100), folded into the session’s 2,881-contract volume for this strike. With 207 days until expiration, the calls sit roughly 40% out-of-the-money and demand $530.95 at expiry—nearly 49% above the spot price—to break even.
The “Sweep / BUY” tag signals the buyer accepted partial fills across exchanges for speed, underscoring urgency and directional conviction. While open-interest figures weren’t displayed, today’s turnover alone is sizable and points to fresh upside speculation rather than quiet hedging, spotlighting renewed medium-term bullish appetite in TSLA.
What’s Happening with Tesla
Tesla’s 2025 tape tells a story of cost-cuts on the shop floor and moon-shots in the lab. The headline this month was the public launch of a paid “Robo-Taxi” pilot in Austin, where select riders are paying a flat $4.20 for fully autonomous trips while safety operators ride shotgun. This is Tesla’s first real-world test of a revenue-generating driverless service. Behind the scenes, the company is still slimming down. A series of layoffs that began last year has now pushed head-count more than 10% lower, marking the first annual workforce decline since 2019.
Demand pressure is visible, though. Q1-2025 deliveries fell 13% year-over-year to 336,681 vehicles, Tesla’s weakest quarter in almost three years, and aggressive price cuts—led by the Model Y’s 2.9% drop in May—have dragged the brand’s average transaction price down 1.5% month-over-month. Even so, investors keep backing Elon Musk’s long-term vision: shareholders recently reaffirmed his multibillion-dollar compensation package and approved a Texas re-incorporation to cement the next growth phase.
About Tesla
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
| Source / Research House | Current Rating | Last Update |
|---|---|---|
| CFRA | ★★★ (3 Stars) | 22 Jun 2025 |
| Market Edge | Long | 14 May 2025 |
| Argus | Hold | 09 Jun 2025 |
| Morningstar | ★★ (2 Stars) | 11 Jun 2025 |
| LSEG (Refinitiv) | Hold | 20 Jun 2025 |
| Schwab Equity Ratings | D | 23 Jun 2025 |
Tesla’s analyst dashboard shows sentiment hovering near neutral, with only one outright bull amid otherwise cautious tones. CFRA’s fresh 3-star rating (22 Jun 2025) equates to a traditional Hold. Argus (9 Jun 2025) and LSEG/Refinitiv (20 Jun 2025) echo that stance with explicit “Hold” calls. Market Edge, however, upgraded the shares to “Long” back on 14 May 2025, marking the lone decisively positive view.
On the bearish side, Morningstar’s 2-star assignment (11 Jun 2025) implies the stock screens as over-valued, while Schwab Equity Ratings’ “D” grade (23 Jun 2025) likewise signals below-average expectations. Taken together, professional opinion skews more balanced than bullish, suggesting investors see a fair valuation after Tesla’s recent volatility and big-ticket autonomy bets.
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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.
