Today’s option order flow showed extremely heavy activity in Tesla (TSLA). Traders targeted the 350 strike calls expiring September 12, 2025, which have just a few weeks until expiration. Across multiple large sweeps, contracts traded in blocks of ~6,000 each. Premiums per trade ranged from $4.8M to $5.4M, totaling more than $20M in bullish positioning.
The most notable feature of this contract is the volume-to-open interest ratio (V/OI). At the time of these trades, daily volume surged to 52,751 contracts, compared to an open interest of only 3,463. Volume to Open Interest comes in over 15, an unusually high figure. This indicates that the vast majority of these trades represent new positions rather than closing trades.
Volume and Open Interest Data
The TSLA 350 Call expiring 09/12/2025 shows an extraordinary spike in activity on August 22nd, 2025. 65,870 contracts traded hands—a massive increase compared to the prior day’s 2,617 contracts and just 1,021 contracts on 8/20. Alongside this surge in volume, open interest (OI) rose more modestly to 3,463 contracts, an increase of 1,634 contracts from the previous trading session.
The contract price also jumped sharply, closing at $9.92 versus just $4.65 the day before. Implied volatility (IV) held relatively stable around 44–45%. This suggests that the move in price was largely driven by directional moves in TSLA’s share price. Overall, this points to unusual call activity with traders committing heavy capital in anticipation of a near-term move in TSLA.
Trade Side Distribution
The trade side distribution for the TSLA 350C expiring 09/12/2025 shows a clear bias. Approximately $16M in premium (51%) traded above the ask, highlighting buyers willing to pay up to secure contracts. Another $5.9M (19%) executed directly at the ask. While there was notable selling activity with $9M (29%) trading at the bid, the balance of flow is clearly skewed toward buyers. Only a very small fraction ($436K, 1%) traded at the mid-price, and none traded below the bid.
What’s Happening with TSLA
Tesla’s stock saw a strong rally today, surging by about 5% following Jerome Powell’s dovish remarks at the Jackson Hole Symposium. In his speech, he suggested a potential interest-rate reduction at the upcoming September Federal Reserve meeting. Powell’s speech boosted investor sentiment and risk assets broadly, giving Tesla added momentum alongside news of advancements in the company’s autonomous driving technology.
After a rather volatile period where Tesla dipped below $300 earlier in the month, today’s bullish response lifted the stock closer to $350, with analysts watching for a convincing breakout above this level to confirm a renewed uptrend in the share price.
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.
