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TSLA

Tesla, Inc.Close $417.85EOD only

Max Pain

$410.00

Next expiry May 22, 2026

Expected Move

±$8.23

2.0% from close

Price Gap

-7.85

Distance to max pain

IV Rank

Middle-high premium

P/C OI

0.74

Slightly call-heavy

Consensus

7.0/10

Bullish tilt

Published snapshot: May 21, 2026 close

End-of-day snapshot

This page reflects TSLA options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.

Published Snapshot

May 21, 2026 close

TSLA Flow Report

Analysis based on market close April 6, 2026

Directional Theta Gang Flow Earnings Consensus

Historical consensus-supported lens with full content, report chain context, and metric rail.

You are viewing an older report from April 6, 2026. A newer flow report is available for May 21, 2026.

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Flow Verdict

Confidence:

6.5 / 10

base 5; +2 GEX/flow strongly aligned; -0.5 spot 4.6% from MP

Watch next session: $350C OI buildup; Put flow at $330-$340; IV term structure for reverse calendar opportunities

Flow Summary

Net premium: -$331.4M bearish

P/C volume ratio: 0.84 — moderate put-dominant

P/C OI ratio: 0.68 — call-leaning positioning

Heavy put premium dominance drives net premium deeply negative, indicating institutional hedging or bearish bets. Despite call-leaning OI, today's flow shows clear defensive positioning, with elevated near-term IV suggesting event-driven volatility.

Notable Prints

TSLA 4/8 $350 Call

Vol: 34,158

OI: 198

Vol/OI: 172.5x

IV: 49.3%

Notional: ~$2.24M

Intent: Fresh directional call buying

Dual read: Bought (bullish) or sold/overwritten (neutral)

Read-through: Large volume relative to OI suggests new bullish positioning near spot, but isolated against broader bearish flow and elevated near-term IV.

TSLA 4/8 $355 Put

Vol: 28,442

OI: 1,142

Vol/OI: 24.9x

IV: 49.1%

Notional: ~$1.73M

Intent: Protective put buying or bearish speculation

Dual read: Bought (bearish) or sold/covered (neutral)

Read-through: ITM put with high volume indicates hedging or directional bearish bet just below spot, contributing to near-term IV spike.

TSLA 4/8 $347.50 Put

Vol: 22,504

OI: 381

Vol/OI: 59.1x

IV: 49.7%

Notional: ~$648K

Intent: Fresh protective put buying

Dual read: Bought (bearish) or sold/covered (neutral)

Read-through: High vol/OI ratio shows new OTM put positioning, supporting defensive narrative and near-term volatility premium.

TSLA 4/8 $355 Call

Vol: 21,157

OI: 368

Vol/OI: 57.5x

IV: 48.0%

Notional: ~$840K

Intent: Fresh directional call buying

Dual read: Bought (bullish) or sold/overwritten (neutral)

Read-through: OTM call with high volume suggests bullish speculation, but smaller notional than put flow and part of elevated near-term IV environment.

TSLA 4/10 $340 Call

Vol: 16,680

OI: 535

Vol/OI: 31.2x

IV: 51.5%

Notional: ~$2.60M

Intent: ITM call buying for delta exposure

Dual read: Bought (bullish) or sold/covered (neutral)

Read-through: Large ITM call volume indicates institutional long positioning, but isolated in bearish flow context and reflects higher IV in near-term expirations.

Institutional Positioning

Call additions: $340-$357.50 calls near-term, but overwhelmed by put flow and elevated IV

Put additions: Heavy $330-$360 puts, especially $350P ($80M premium) and $360P ($92M premium), driving near-term IV spike

GEX/DEX consistency: Yes — negative GEX (-$63.1M) aligns with bearish flow and selling pressure on rallies

OI clusters: $400-$500 call wall (28K+ OI), $230 put floor (22.6K OI)

Hedging evidence: Strong evidence: net premium -$331.4M driven by put buying at $350-$380 strikes, inflating short-dated IV

Max pain context: MP at $370-$368 near-term, spot $352.82 below, creating pin risk upward

Signal vs Noise

~$630C 4/10 volume likely lottery tickets or spread legs, not directional

~High OI at $400-$500 calls are long-dated positions, not near-term flow

~$230 put OI is structural floor, not active hedging

~Elevated near-term IV (48.5% for 2d vs 40.8% for 7d) suggests event-driven noise; consider reverse calendar spreads to arbitrage

Key Conclusions

🐻Net premium -$331.4M shows heavy institutional put buying, driving bearish flow

📉Negative GEX (-$63.1M) creates selling pressure on rallies

🎯Spot below max pain ($370) creates pin risk upward

⚡IV term structure shows 7.7 vol point differential (48.5% 2d vs 40.8% 7d), favoring reverse calendar spreads

How to Use These Reports

This flow reflects the market close on April 6, 2026.

What the reports do

Each report translates the same market-close options snapshot into a specific lens such as directional bias, premium-selling posture, flow quality, or earnings setup.

How traders use them

Reports are most useful for narrowing the playbook, surfacing entry and risk context, and deciding which raw data page to inspect next.

What to remember

These are interpretation layers, not execution guarantees. Validate the setup against chain liquidity, expected move, and exposure before sizing risk.

If the report conviction and the raw data disagree, slow down and resolve the mismatch before sizing risk.