Yahoo Finance Tesla Rally Flips Options to Most Bullish in Three Years
(Bloomberg) -- Tesla Inc. options investors are the most bullish in more than three years, betting the rally to an almost six-month high has room to run.
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The three-month call skew — measuring the premium of call options over puts — is the widest since Feb. 1, 2021, according to data compiled by Bloomberg. That’s a flip in sentiment from just three weeks earlier, and comes as shares have rallied 34% in that time.
Shares surged as much as 10% Tuesday to $231.15 after Tesla reported a smaller annual decline in quarterly vehicle deliveries than Wall Street analysts had estimated. While it was the second consecutive year-over-year drop, it was an increase over the first quarter.
Total options volume at 1:04 p.m. New York time was already above the 20-day average. More than 240,000 of the $230 calls expiring Friday changed hands, leading options trading.
(Updates options volumes in last paragraph. An earlier version corrected time frame in headline, first paragraph.)
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