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Tesla's $150 Calls Sell Like Hotcakes as Stock Soars After Deliveries Beat

Luzi Ann Santos joined discussion · Jun 14 14:18
Investors and traders are piling on $Tesla(TSLA.US)$call options that give the holder the right to buy the stock at $150 by the end of next week after the electric vehicle maker's second quarter deliveries beat analysts' estimates.
More than 45,000 of such calls traded hands as of 12:22 p.m. in New York Tuesday, almost 10 times its open interest. That makes the $150 calls the most active contract expiring next week. Trading across Tesla options reached 2.97 million so far, the biggest of all stock options.
Source: moomoo PC app
Source: moomoo PC app
Shares climbed 9% to $228.80 after the EV maker reported that its second quarter deliveries fell to 443,956 vehicles, from 466,140 a year earlier. Analysts on average expected the figure to slump to 439,302, according to a Bloomberg survey.
The better-than-expected deliveries fueled the rally for the stock that has been lagging behind its Magnificent Seven peers. Even after Tuesday morning's jump, Tesla is still down more than 8% this year. By comparison, $NVIDIA(NVDA.US)$ skyrocketed 146%; $Meta Platforms(META.US)$ soared 43%; $Alphabet-A(GOOGL.US)$ climbed 31%, $Amazon(AMZN.US)$ jumped 30%, $Microsoft(MSFT.US)$ advanced 21%, while $Apple(AAPL.US)$gained 14% in that same period.
Tesla's $150 Calls Sell Like Hotcakes as Stock Soars After Deliveries Beat
As expected, the $130 Tesla call options maturing this Friday attracted the heaviest volume across 19 expiration dates as the share price jumped near that strike price. The surge in demand is likely partly driven by those jumping on the rally, sellers who wrote the call options and are now buying them back and those who are rolling the contracts either to a higher strike price or a later expiration.
Tesla's $150 Calls Sell Like Hotcakes as Stock Soars After Deliveries Beat
As of 12:14 p.m., inflows into Tesla outpaced outflows by $392 million. That sets the stock on course for its first monthly net inflow since December 2023, when traders and investors poured about $144 million into Tesla, on a net basis.
It's unclear how long the party can get going. Twelve of the 15 technical indicators tracked by moomoo are showing early warning signal that the stock could be overbought, and the trend may turn bearish. Two others were neutral and the only one that's positive - the moving average - is showing a potential bullish sign.
Share your thoughts on Tesla below.
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