Tesla closed at $382.70, up 2.05%, after opening at $382.38 and moving within a range of $379.71 to $388.56.

The session’s large-block flow centered on the $360 strike for 2026-10-16 expiration: a $260 thousand long put block stood out as the largest displayed trade, while a $179 thousand put sale at the same strike pulled in the opposite direction. That clash between premium-paid downside protection and premium-collected bullish positioning created a cautiously bearish tug-of-war just below the current price.

>>>Start OPTIONS trading & earn up to SGD 200 in rewards!

Options Indicators

Tesla’s implied volatility is 45.90%, and with an IV percentile of 18.73%, current option volatility sits on the low side of its recent range, indicating that options are relatively cheaply priced. At the same time, the IV/HV ratio of 1.55 shows implied volatility is still running above historical realized volatility, suggesting the market is building in more forward-looking uncertainty than what has actually been observed in recent price movement.

The Call/Put volume ratio is 1.60.

Large Trades

A put purchase worth $260 thousand was the largest displayed trade, with buyers taking 2,100 TSLA 360.0 puts expiring on 2026-10-16. With the reference stock price at 382.70, this strike sits out of the money, so the trade represents downside protection or a directional bearish bet that Tesla could weaken meaningfully over time. The out-of-the-money positioning suggests the buyer was willing to pay premium for convex downside exposure rather than immediate intrinsic value, which is typically a cautious-to-bearish signal in large-flow analysis.

A put sale worth $179 thousand was the second displayed trade, with 1,599 TSLA 360.0 puts sold for the same 2026-10-16 expiration. This strike is also out of the money versus the 382.70 reference price, making the trade a moderately bullish or income-oriented position that benefits if Tesla holds above 360 into expiration. Strategically, selling this put expresses confidence in price support at that level and a willingness to collect premium rather than pay for downside insurance. Overall, the bulk-order tone leans bearish: although there was meaningful put selling and premium collection in lower-strike structures, the most prominent displayed trade was a sizeable long put, and the broader large-trade mix shows greater demand for downside exposure than upside participation, pointing to cautious sentiment and a modestly negative directional bias on Tesla.

Strategy Reference

For a lower assignment-probability income trade, sellers may look further out of the money at the $320 or $300 put strike for 2026-10-16; alternatively, a put credit spread such as selling the $360 put and buying the $320 put can cap margin while still collecting premium if Tesla holds above $360.