Tesla Options Traders Bet Big on a Rebound With $1.6M Call Sweep as Stock Slides 3%

By TrendSpider Editor

The forward setup for Tesla is nuanced. Today's session decline brings shares closer to the lower end of their recent range, and the 52-week low of $297.38 serves as a meaningful floor for longer-term bulls to anchor to. The unusual call activity, particularly the February 2027 contract, suggests at

Tesla Options Traders Bet Big on a Rebound With $1.6M Call Sweep as Stock Slides 3%

Key Drivers of the TSLA Stock Move

• Main Catalyst: Two unusual call contracts surfaced Thursday, generating a combined $1,733,618.80 in total premium. The headline trade is a $450 strike call expiring February 19, 2027, with a size of 1,174 contracts and a premium of $1,612,136.80. A second, shorter-dated $380 strike call expiring October 23, 2026 saw 510 contracts change hands for $121,482 in premium.
• Bull Case: The February 2027 $450 call represents a bet that TSLA will rally more than 20% from current levels before mid-February. The sheer size of that contract, 1,174 lots at $1,612,136.80 in premium, signals meaningful conviction behind the trade. The near-term $380 call expiring tomorrow suggests some traders are also positioning for an immediate bounce off today's weakness.
• Bear Case: Both contracts are out of the money, and with TSLA off 3.04% today to $374.74, the $380 call expiring tomorrow faces significant time pressure with the stock sitting below the strike. The overall tape remains under pressure, and the $450 target on the February contract sits well below the 52-week high of $498.82, reflecting continued uncertainty about TSLA's ability to reclaim its prior highs.

The forward setup for Tesla is nuanced. Today's session decline brings shares closer to the lower end of their recent range, and the 52-week low of $297.38 serves as a meaningful floor for longer-term bulls to anchor to. The unusual call activity, particularly the February 2027 contract, suggests at least one large participant sees the current pullback as an opportunity rather than a warning sign. Whether that conviction proves well-placed depends heavily on how Tesla's broader narrative evolves heading into early 2027, including delivery trends, margin recovery, and the competitive landscape in the global electric vehicle market.

TSLA Unusual Options Activity

Two unusual call contracts were flagged in Thursday's session, with no put activity recorded among the unusual flow. Details are as follows:

• Contract 1: Call, $450 strike, expiring February 19, 2027. Volume of 1,174 contracts against an open interest percentage of 18%. Out of the money. Premium: $1,612,136.80.
• Contract 2: Call, $380 strike, expiring October 23, 2026. Volume of 510 contracts against an open interest percentage of 5%. Out of the money. Premium: $121,482.

The total premium across both contracts came to $1,733,618.80, with zero puts flagged. The lopsided call-only flow, combined with the size of the February 2027 position, suggests the dominant thesis among unusual options traders today is bullish on a multi-month time horizon.

TSLA Seasonality

Late October has historically been an active period for Tesla, as the company typically reports third-quarter earnings during this window, which can create elevated volatility and directional options positioning heading into and out of the print. Traders placing calls expiring in February 2027 may be looking to capture any momentum that builds through the end of the calendar year and into early 2027.

TSLA Relative Performance

Tesla's 3.04% decline on Thursday places it as a notable underperformer in today's session. With the stock at $374.74 and sitting closer to the midpoint of its 52-week range of $297.38 to $498.82, TSLA has given back meaningful ground from its yearly highs. The divergence between today's price weakness and the bullish options flow creates an interesting tension, one that traders will be watching closely heading into Friday's session.