EARN25

Tesla Stock Trading at Highest Level Since April

Call volume is running at nearly double the amount typically seen at this point

Deputy Editor
Sep 8, 2021 at 10:09 AM
facebook X logo linkedin


The shares of Tesla Inc (NASDAQ:TSLA) were last seen 0.6% higher to trade at $757.18, after the electric car manufacturer revealed upbeat August sales in China. Per the China Passenger Car Association (CPCA), Tesla saw China-made vehicle sales soar to 12,885 locally, versus 8,621 cars sold in July. This report comes after Tesla introduced a cheaper version of the Model Y in the region, on the heels of increased scrutiny from regulators and the public alike.

Following the news, a healthy amount of call speculation amongst the brokerage bunch is taking place. In the first hour of trading 131,000 calls have crossed the tape, nearly double the intraday average, versus 55,000 puts. The most popular by far is the weekly 9/10 770-strike call, where new positions are being opened.

The penchant for calls is nothing new. TSLA's 50-day call/put ratio of 1.75 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), stands higher than 96% of readings in its annual range, indicating that calls have been picked up at a faster-than-usual clip in the last two months.

The good news for these options traders is Tesla's Schaeffer's Volatility Scorecard (SVS) comes in at 88 out of 100, indicating the equity has exceeded options traders' volatility expectations of the past year -- a boon for buyers. 

On the charts, Tesla stock is trading at its highest level since February. And while the equity boasts an impressive 128% year-over-year lead and is coming off three straight winning months, TSLA up just 6.7% year-to-date. 

 

You Don’t Need 25 Alerts -- You Need ONE You Can Trust!

That’s the idea behind Trade of the Week, Schaeffer’s newest trade alert.

Every Monday morning before the opening bell, you’ll receive a single, expertly researched trade recommendation -- built from the same proprietary research we’ve been using for over four decades.

It’s not just a signal.

It’s a plan designed for traders who are tired of jumping from alert to alert without ever finding their edge.

No juggling alerts. No switching directions mid-week. Just one clear, expertly researched trade idea -- delivered before the market even opens.

👉 JOIN RIGHT NOW FOR JUST $1 TO GET THE NEXT TRADE!