Tesla closed at $377.81, down 0.75%.

Large options trades showed a dominant put sale worth $491,700 at the 270.0 strike and a smaller put purchase worth $21,000 at the 310.0 strike. The overall tone leaned bullish, with bigger size focused on premium harvesting and downside confidence rather than aggressive bearish positioning.

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Options Indicators

Tesla’s implied volatility is 45.25%, while its IV percentile is 12.75%, which places current option volatility on the low side versus its own recent history. In other words, even though the absolute IV level is not especially low, the percentile suggests Tesla options are currently cheaply priced relative to where they have traded over time. With an IV/HV ratio of 1.52, implied volatility is still running above historical volatility, indicating the market is pricing in more future movement than what has recently been realized.

The Call/Put volume ratio is 1.14.

Large Trades

A put sale worth $491,700 was the largest displayed trade, with 3,198 contracts sold at the 270.0 strike expiring on 2026-12-18. With TSLA referenced at 377.81, this put was out of the money at the time, making it a moderately bullish income-style position. The seller is effectively expressing confidence that TSLA can remain above 270.0 into expiration, allowing premium collection while also signaling a willingness to take on downside assignment risk only at a much lower level.

A put purchase worth $21,000 was the other highlighted trade, covering 2,619 contracts at the 310.0 strike expiring on 2026-10-12. This contract was also out of the money versus the 377.81 reference price, so the buyer was positioning for downside protection or a bearish move below current levels over a shorter horizon. Overall, the large-trade tone leans bullish, because the dominant flow was an out-of-the-money put sale with substantially larger premium than the smaller bearish put buy, suggesting that bigger size was more focused on premium harvesting and downside confidence than on pressing an aggressive bearish view.

Strategy Reference

For a low assignment probability, a seller could consider the 310.0 strike put expiring 2026-10-12, which is well below the current price and offers a defined-risk alternative to selling the 270.0 strike if one prefers a closer strike with more premium but still strong downside cushion.