According to Schaeffer's Senior Quantitative Analyst Rocky White, TSLA has averaged a gain of 10.7% in the month of June over the last 10 years. Plus, the security has finished the month in the black eight times. In other words, the equity is among the top three best stocks to own this month, and is the only automobile name to appear on the list above.

At last check, the security is down 2.7% at $606.86. Still, a move of similar magnitude would put TSLA just above $670 for the first time since early May. And although shares are off 14% year-to-date, a floor seems to have emerged at the round $600 level, with additional support coming from the 200-day moving average

Options traders are speculating on more upside for the security. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), TSLA's 10-day call/put volume ratio of 1.66 sits higher than 71% of readings from the past year. In other words, calls are getting picked up at a quicker-than-usual clip.

Now seems to be a prime time to purchase TSLA options. That's because security's Schaeffer's Volatility Index (SVI) of 47% stands in the extremely low first percentile of its annual range. This means option traders are pricing in low volatility expectations at the moment.

What's more, these premium buyers are striking while the iron is hot, considering TSLA has consistently rewarded options buyers over the past year. This is per the security's Schaeffer's Volatility Scorecard (SVS), which ranks at a high 98 out of a possible 100.

Etsy Inc (NASDAQ:ETSY) is up 1.5% at $163.46 this afternoon, following news that the e-tail giant plans on acquiring clothing resale firm Depop, in a deal worth $1.63 billion. The ownership of Depop, which caters to Gen-Z fashion tastes, is a push to help Etsy attract younger customers. 

ETSY has doubled in the past year, though 2021 has taken the equity down a peg, and pressure at the 20-day moving average has kept a lid on shares since late April. The stock is off 6.2% year-to-date, though its testing its footing atop the aforementioned 20-day trendline. A short-term pop could already be in the cards for ETSY. The security's Relative Strength Index (RSI) of 38 sits right on the cusp of being "oversold."

That being said, buying options on ETSY may be the way to go. Its Schaeffer's Volatility Index (SVI) of 44% sits in the 5th percentile of its annual range, and its Schaeffer's Volatility Scorecard (SVS) ranks at 98 out of a possible 100. This implies options players have been pricing in relatively low volatility expectations for Etsy stock at the moment, while the equity has tended to exceed these expectations -- a good thing for buyers. 

Today the Federal Reserve's latest Beige Book report is due out as is data concerning motor vehicle sales. 

The following public companies are slated to release quarterly earnings reports today, June 2:

Advance Auto Parts Inc. (NYSE:AAP -- $194.65) provides automotive replacement parts, accessories, batteries, and maintenance items for domestic and imported cars, vans, sport utility vehicles, and light and heavy duty trucks. Advance Auto Parts will report its Q1 earnings of 2021 before the bell today.

Donaldson Co. Inc. (NYSE:DCI -- $62.43) manufactures and sells filtration systems and replacement parts worldwide. It operates through two segments, Engine Products and Industrial Products. Donaldson will report its Q3 earnings of 2021 before the bell today.

C3.ai Inc. (NYSE:AI -- $71.76) operates as an enterprise artificial intelligence (AI) software company. C3.ai will report its Q4 earnings of 2021 after the market closes today.

The Descartes Systems Group Inc. (NASDAQ:DSGX -- $58.15) provides cloud-based logistics and supply chain management business process solutions. Descartes will report its Q1 earnings of 2022 after the market closes today.

Guidewire Software Inc. (NYSE:GWRE -- $97.40) provides software products for property and casualty insurers. Guidewire Software will report its Q3 earnings of 2021 after the market closes today.

nCino Inc. (NASDAQ:NCNO -- $61.60) provides cloud-based software applications for financial institutions. nCino will report its Q1 earnings of 2022 after the market closes today.

NetApp Inc. (NASDAQ:NTAP -- $76.71) provides software, systems, and services to manage and share data on-premises, and private and public clouds. NetApp will report its Q4 earnings of 2021 after the market closes today.

PagSeguro Digital Inc. (NYSE:PAGS -- $48.66) provides financial technology solutions and services. PagSeguro Digital will report its Q1 earnings of 2021 after the market closes today.

PVH Corp. (NYSE:PVH -- $114.11) operates as an apparel company. PVH will report its Q1 earnings of 2021 after the market closes today.

Semtech Corp. (NASDAQ:SMTC -- $62.95) designs, develops, manufactures, and markets analog and mixed-signal semiconductor products and advanced algorithms. Semtech will report its Q1 earnings of 2021 after the market closes today.

Smartsheet Inc. (NYSE:SMAR -- $58.89) provides cloud-based platform for execution of work. Smartsheet will report its Q1 earnings of 2022 after the market closes today.

SpartanNash Co. (NASDAQ:SPTN -- $20.52) distributes and retails grocery products. SpartanNash will report its Q1 earnings of 2021 after the market closes today.

Splunk Inc. (NASDAQ:SPLK -- $120.28) provides software and cloud solutions that deliver and operationalize insights from the data generated by digital systems. Splunk will report its Q1 earnings of 2021 after the market closes today.

Sportsman's Warehouse Holdings Inc. (NASDAQ:SPWH -- $17.90) provides various banking products and services. Sportsman's Warehouse will report its Q1 earnings of 2021 after the market closes today.

The following companies reported quarterly earnings yesterday, June 1:

Bank of Nova Scotia (NYSE:BNS -- $67.30) provides various banking products and services. Bank of Nova Scotia reported $1.90 earnings per share for the quarter, topping analysts' consensus estimates of $1.32 by $0.58. The firm earned $7.74 billion during the quarter, compared to the consensus estimate of $7.86 billion.

Canopy Growth Corp. (NASDAQ:CGC -- $26.09) engages in the production, distribution, and sale of cannabis for recreational and medical purposes. Canopy Growth reported ($1.85) earnings per share for the quarter, missing analysts' consensus estimates of ($0.18) by $1.67. The company earned $167.40 million during the quarter, compared to the consensus estimate of $149.97 million.

Ambarella Inc. (NASDAQ:AMBA -- $100.38) develops semiconductor solutions for video that enable high-definition (HD) and ultra HD compression, image processing, and deep neural network processing. Ambarella reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.06. The business had revenue of $62.10 million for the quarter, compared to analyst estimates of $57.67 million.

Digital Turbine Inc. (NASDAQ:APPS -- $100.38) provides media and mobile communication products and solutions for mobile operators, application advertisers, device original equipment manufacturers, and other third parties. Digital Turbine reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.05. The business had revenue of $95.08 million for the quarter, compared to analyst estimates of $95.10 million.

Hewlett Packard Enterprise Co. (NYSE:HPE -- $15.96) provides solutions that allow customers to capture, analyze, and act upon data seamlessly. Hewlett Packard Enterprise reported $0.46 earnings per share for the quarter, topping analysts' consensus estimates of $0.42 by $0.04. The company earned $6.70 billion during the quarter, compared to analysts' expectations of $6.61 billion.

Medallia Inc. (NYSE:MDLA -- $25.67) provides an enterprise Software-as-a-Service platform. Medallia reported ($0.08) earnings per share for the quarter, missing analysts' consensus estimates of ($0.07) by $0.01. The firm had revenue of $131.40 million for the quarter, compared to analyst estimates of $127.29 million.

StoneCo Ltd. (NASDAQ:STNE -- $65.97) provides financial technology solutions to merchants and integrated partners to conduct electronic commerce across in-store, online, and mobile channels in Brazil. StoneCo reported $0.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.16 by $0.44. The business had revenue of $867.70 million for the quarter, compared to analysts' expectations of $985 million.

Zoom Video Communications Inc. (NASDAQ:ZM -- $331.53) provides a video-first communications platform. Zoom Video reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.70. The firm had revenue of $956.24 million for the quarter, compared to analysts' expectations of $908.17 million.