Options Market Statistics: Tesla Shares Fall, Options Pop After Deliveries Fell Below Analyst Estimate
News Highlights
$Tesla(TSLA.US$ shares fell by 4.90%, closing at $166.63. Its options trading volume was 2.13 million. Call contracts account for 46.7% of the total trading volume. The most traded calls are contracts of $185 strike price that expire on Apr. 5th. The total volume reaches 40,606 with an open interest of 14,632. The most traded puts are contracts of a $175 strike price that expires on Apr. 5th; the volume is 39,539 contracts with an open interest of 19,766.
Tesla on Tuesday published its first-quarter vehicle production and deliveries report for 2024 that showed deliveries fell 8.5% from the year-ago quarter and about 20% from the fourth quarter. Shares dropped about 5%.
According to a mean of 11 estimates compiled by FactSet, analysts were expecting deliveries of around 457,000 for the period ending March 31. Estimates ranged from a high of 511,000 deliveries to a low of 414,000 for the first quarter, with estimates updated in March ranging from 414,000 to 469,000 deliveries. Tesla's deliveries fell below even the lowest analyst estimate.
$Nikola(NKLA.US$ shares fell by 5.48%, closing at $0.9736. Its options trading volume was 0.27 million. Call contracts account for 18.6% of the total trading volume. The most traded calls are contracts of $1 strike price that expire on Apr. 5th. The total volume reaches 19,587 with an open interest of 15,042. The most traded puts are contracts of a $1 strike price that expires on Apr. 5th; the volume is 3,841 contracts with an open interest of 586.
The big EV news today was a major disappointment from industry leader Tesla for its first-quarter deliveries. Tesla deliveries declined 8.5% year over year and badly missed average analyst estimates. Tesla competes with Nikola with its electric Semi trucks, but there's little overlap beyond that.
Nikola has also pivoted more toward supplying hydrogen fuel cell vehicles rather than its battery electric heavy trucks. Regardless, Tesla's miss has investors concerned that demand is waning more than many expected for EVs in general.
$Meta Platforms(META.US$ shares rose by 1.23%, closing at $497.37. Its options trading volume was 0.26 million. Call contracts account for 54.3% of the total trading volume. The most traded calls are contracts of $500 strike price that expire on Apr. 5th. The total volume reaches 7,477 with an open interest of 1,993.
Meta's fiscal first quarter ended in March. The social media giant will announce its results for the period on April 24, Meta announced Monday.
For the period, analysts project Meta will posts sales of $36.05 billion, according to FactSet, up 26% from the same period in 2023. Earnings are projected to rise 95% to $4.29 per share.
The turnaround for Meta's sales growth started with the company's first quarter 2023 report last spring. Meta squeaked out a 2.6% year over year increase in revenue, to $28.65 billion, for its March 2023 quarter. Before that, Meta's sales had declined year over year for three consecutive quarters. Since then, the Facebook parent company's year over year sales growth has accelerated three quarters in a row, up to a 24% in the fourth quarter of 2023.
The projections see Meta pushing that growth rate slightly higher for its most recent quarter, despite coming up against a harder comparison.
Unusual Stock Options Activity
Some notable put activity is being seen in $UiPath(PATH.US$, which is primarily being driven by activity on the August 16th put. Volume on this contract is 6,414 versus open interest of 102.
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Daily Active Index & Sector ETF Options
Source: Barchart, Unusual Whales, Barron's, The Motley Fool
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Tonyco : Seems pretty short sighted for wall street to already think EVs arent going to surge. Do they not realize the avg wage -1% os 35k/yr? You gonna get a Tesla on that salary? Thats why Fisker's move will be pivotal. US needs a affordable EV under 30k. Like Honda and Toyota before, you're only going to break into this market if you beat everyone else in price. These 60k+ models are wildly out of touch. People who can afford 100k vehicles are 1) Gonna buy a truck instead or 2) already have an EV
WizIT : Love the selection of fonts & white spaces for small devices like mobile, but still text to voice reader options would have been great
WizIT : Price of EV in the USA will further fall in the future and there are many reasons for it. High inflation has forced Americans to spend more money on housing and food reducing their saving or money for cars.
Lack of jobs & decline salary have forced many to look for cheaper transport alternatives. Work from home, high cost of gas, car insurance and interest on car loans have forced people not to own cars. Furthermore, lack of EV infrastructure like EV charging stations, its proper management, lack of standardisation of charging stations, no battery swaping like NIO China, and range anxiety make you think twice before you put your hard earn cash toward EV. Entry of any cheaper EV like BYD in the USA will create big price war for Tesla & Ford. These companies will try their best to buy politicians & law to keep China EV entering in the USA market as long as possible.
74380259 : $Invesco QQQ Trust (QQQ.US)$
Mynor Garcia : I don't know about Wall Street, but I know regular ass people have NEVER thought EVs were gonna surge, and they still don't. Especially if the government keeps trying to push them on you. That'll make most people just flat out reject it without thinking twice.
Mynor Garcia : Everyone gotta remember with this EV business, it's just like CBDCs. They make it seem really great but that's only so you don't see the amount of control you give up. If your is an EV chances are it's hooked to the Internet. And we already seen companies ain't got no problems sending software updates to drain your battery faster so you go buy a new phone(Apple) and I think Tesla may have done this too for the first Tesla model. Roomba vacuum cleaners that map out the floor area of your house and sell that data. The numerous videos of how violent and uncontrollable EV fires are. I mean the list goes on and on but the general rule of thumb is be suspicious of any new Tech they're selling, especially if its hooked to the Internet and they're offering incentives like tax breaks or whatever. Here just browse this channel for 30 minutes and see if "Betting on Tech" sounds like a good idea afterwards.
Louis Rossmann
Zspurr : Love stats