Tesla Motors closed at $375.30, up 3.03 %.

Tesla options saw notable institutional flow, led by a $499,200.00 call purchase at the $385.00 strike expiring September 2026, which dominated a much smaller $97,100.00 call sale at $460.00. The combined activity points to a bullish lean, with the larger trade positioned for meaningful upside while the sale suggests some willingness to cap extreme gains.

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Options Indicators

TSLA’s implied volatility stands at 45.62%, and with an IV percentile of 12.75%, current option pricing sits on the low end of its recent range, suggesting volatility is relatively subdued and options are cheaply priced rather than expensive. The IV/HV ratio at 1.00 also indicates implied volatility is closely aligned with realized volatility, reinforcing the view that premiums are fairly balanced versus actual recent movement, though still inexpensive in a historical context.

The Call/Put volume ratio is 1.69.

Large Trades

A call purchase worth $499,200.00 was the standout large trade, with buyers taking 1,280 contracts of the 385.0 strike call expiring on 2026-09-25. With TSLA referenced at 375.3, this contract was out of the money at the time of the trade, making it a clearly bullish directional bet on upside over the next year. The relatively aggressive premium outlay suggests traders were positioning for a meaningful move above the current stock price rather than simply making a near-the-money hedge.

A call sale worth $97,100.00 was the second notable trade, consisting of 1,091 contracts of the 460.0 strike call expiring on 2026-10-16. Since the strike sat well above the 375.3 reference price, this was also an out-of-the-money option, and the sale reflects a bearish-to-capped-upside view, likely expressing premium collection or a belief that TSLA will remain below that level into expiration. Overall, the large-trade flow leans bullish, as the dominant order was a sizable upside call purchase that outweighed the smaller bearish call-selling activity, indicating institutional interest is still tilted toward upside participation even though some traders are willing to fade more extreme upside levels.

Strategy Reference

For sellers seeking a low assignment probability, the $460.00 strike call expiring 2026-10-16 aligns with the observed sale and sits well above the current price, though traders may prefer a bull call spread such as buying the $385/$460 call spread to limit margin while retaining upside exposure.