Unusual Tesla Options Activity Detected with $6.2M of Bullish Call Sweeps

We spotted a trio of large bullish call sweeps on Tesla (TSLA) today, pointing to aggressive upside positioning across multiple horizons—from just a few days to well over a year. In total, about $6.2 million in premiums poured into three contracts: the $480 strike expiring 18 July 2025, the $350 strike expiring 18 September 2026, and the $340 strike that comes due in only three days. The scale and staggered maturities hint at institutional or other deep-pocketed traders betting on sustained strength in Tesla’s share price.

Volume and Open Interest Data

The July 2025 call options with a $480 strike price show the most interesting activity, with a volume-to-open interest ratio of 1.87 (3,970 contracts traded versus 2,120 existing open interest). This high V/OI ratio indicates substantial new positioning rather than adjustments to existing trades. The trader paid approximately $2.6 million in premium for these significantly out-of-the-money calls, which expire in 59 days.

Looking deeper into the weekly activity for the $480 strike 18 July 2025 expiration, volume has accelerated sharply over the past week. In a surge from just 168 contracts on 5/19 to 4,207 contracts on 5/20—the highest print amongst the trailing 5 trading days by far. Open interest ticked up only slightly (+77), indicating most of this flow is fresh positioning rather than closing trades. The contract’s price followed the heightened demand, climbing from $6.80 to $8.22, while implied volatility edged above 71%. Overall, the spike signals a sudden wave of bullish enthusiasm that dwarfs earlier activity.

Trade Side Distribution

Nearly all of the premium in the July 18 2025 TSLA $480 Call was paid above the quoted ask price. Roughly $2.6 million (89%) of the flow hit at prices higher than the ask, while the remaining $318.9K (11%) printed right at the ask. No trades executed at the bid, mid-market, or below the bid. This skew toward “above-ask” prints signals highly aggressive buying pressure—traders were willing to outbid the market to secure upside exposure, underscoring strong bullish sentiment behind this contract.

Such above-ask sweeps typically arrive when a fund wants exposure immediately and is willing to pay a volatility premium to avoid missing the move.  For market makers, being lifted above ask forces them to raise their quoted vols and delta-hedge in the underlying stock, which can add incremental upward pressure to TSLA shares.  We already saw implied volatility on the strike pop from ~69.7% to 71.2% as the orders went through, confirming that dealers repriced risk higher in real time.

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, as well as 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, known for its 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.

What’s Happening with TSLA

Tesla shares have been rising since Elon Musk has publicly vowed to remain Tesla’s chief executive for “at least the next five years,”. This implies any leadership transition out to 2030 and promising continuity at the electric-vehicle pioneer.  The pledge comes after a bruising stretch in which Tesla’s share price slid amid Musk’s controversial role in the Trump administration’s Department of Government Efficiency (DOGE).  Analysts say the renewed commitment could steady investor nerves—but only if Musk reins in political distractions and refocuses on execution.

Musk’s pledge to stay on as CEO “unless I die” directly counters speculation that Tesla’s board was actively seeking his replacement. Both Musk and Tesla chair Robyn Denholm have publicly denied reports of a CEO search, asserting full confidence in Musk’s leadership.

Analyst Ratings for TSLA

Tesla’s latest batch of third-party research remains a mixed bag. Market Edge and Argus lean decisively bullish with “LONG” and “BUY” calls, while CFRA sits in the neutral middle at three stars. At the cautious end, Morningstar assigns only two stars, LSEG advises “HOLD,” and Schwab’s quantitative model flashes a bearish “F.” Taken together, the spread of opinions shows that enthusiasm exists—but it is far from unanimous across the analyst landscape.

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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.