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Wednesday, April 17, 2024

Tesla Calls Active As Shares Hit Highest Since November 6th

TSLA – Tesla Motors Corp – Options on Tesla are among the most active on a single stock this morning amid strong gains in the price of the underlying shares after the company said the National Highway Traffic Safety Administration (NHTSA) reaffirmed its 5-star rating for crashworthiness for Tesla’s Model S sedan. Shares in TSLA increased nearly 8.0% to $154.99, the highest level since November 6th, during the first thirty minutes of the holiday-shortened trading session.

Overall options volume is roughly 50% of the stock’s average daily volume as of the time of this writing, with roughly 77,000 contracts in play versus an average daily reading of around 151,000 contracts. Trading in TSLA calls is outpacing that of puts this morning, with the call/put ratio hovering just below 2.5 as of 10:45 a.m. EST. Shares are currently off their highest level of the morning, with the stock trading up 6.5% on the day at $152.80. 

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