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TSLA

Tesla, Inc.Close $388.90EOD only

Max Pain

$365.00

Next expiry Apr 17, 2026

Expected Move

±$7.62

2.0% from close

Price Gap

-23.90

Distance to max pain

IV Rank

100

High premium

P/C OI

0.71

Slightly call-heavy

Consensus

6.5/10

Consensus signal

Published snapshot: Apr 16, 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

Apr 16, 2026 close

TSLA Flow Report

Analysis based on market close April 15, 2026

Directional Theta Gang Flow Earnings Consensus

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

Flow Verdict

Confidence:

8 / 10

base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); +0.5 large front-day C390 notional increases dealer hedging; -1 spot 8.9% from MP; +0.5 VIX 18

Watch next session: Follow-through call premium at the front expiry, specifically continued delta-weighted buying at the $390 strike; Whether price respects the 2d expected-move lower bound $378.70 1; a close below would weaken the bullish flow thesis

Flow Summary

Net premium: +$3.1B bullish (deterministic)

P/C volume ratio: 0.54

P/C OI ratio: 0.70

Flow is decisively call-leaning with material front-day concentration: in addition to broad call premium at $365

$380 and the $390

strike, there is a very large same-day $390 call print (Vol=275,994, OI=4,005, Last=$2.03) that materially raises front-end call notional (~$56.0M) and forces incremental dealer delta hedging. Put volume remains present but not dominant. The C390 print increases short-term pinning and raises conviction that dealers will buy underlying into intraday upside, amplifying the bullish microstructure even though longer-dated max pain remains lower.

Notable Prints

TSLA260415C00390000

Vol: 275,994

OI: 4,005

Vol/OI: 68.9x

IV: 11.9%

Notional: ~$56,036,682

Intent: Large short-dated directional call buying (institutional/spec) concentrated at $390

Dual read: Could be a combination of institutional opening buys or large retail aggregation; the size and price (Last=$2.03) strongly points to meaningful opening long call exposure that forces dealer delta hedging.

Read-through: Material: this single print (~$56.0M notional) substantially increases front-end hedging demand and strengthens the short-term bullish/pinning thesis.

TSLA260415C00395000

Vol: 215,681

OI: 694

Vol/OI: 310.8x

IV: 8.0%

Notional: ~$431,362

Intent: Short-dated speculative/lottery call buys targeting $395

Dual read: Could be cheap spread leg for dealers, but the enormous volume vs tiny OI and Last=$0.02 indicates fresh opening long call flow.

Read-through: Supports upside gamma and dealer hedging; smaller notional than C390 but large in contracts.

TSLA260415P00380000

Vol: 110,562

OI: 360

Vol/OI: 307.1x

IV: 23.8%

Notional: ~$110,562

Intent: Short-dated protective/lottery put buying or dealer delta rebalancing

Dual read: High volume at cheap puts may be retail protection; given dominant call activity, more likely isolated hedging/spec rather than coordinated directional shift.

Read-through: Adds two-way gamma churn but is small vs C390 notional.

TSLA260415P00377500

Vol: 72,541

OI: 104

Vol/OI: 697.5x

IV: 28.1%

Notional: ~$72,541

Intent: Cheap short-dated put accumulation (lottery/mini-hedge) at $377.50

Dual read: Fresh opening buys by speculators likely; low notional limits structural impact.

Read-through: Raises local downside option interest but insufficient to counter large call hedging.

TSLA260415C00392500

Vol: 191,570

OI: 930

Vol/OI: 206.0x

IV: 5.2%

Notional: ~$3,831,400

Intent: Front-day squeeze/pinning activity concentrated at $392.50

Dual read: Could include dealer flow, but volume and Last=$0.20 indicate significant opening call purchases.

Read-through: Further concentrates front-end gamma near spot and amplifies dealer hedging.

Institutional Positioning

Call additions: Meaningful front-end call accumulation concentrated at $390 (huge same-day notional), plus heavy call premium at $365 and $390 strikes across the front expiries; larger-dated structural call OI remains at $400 and $500, indicating layered upside exposure.

Put additions: Protective interest exists at short-dated $370 and $380 puts and multi-month put OI concentrated at $300 and $350, but these are small in premium versus the large $390 call notional.

GEX/DEX consistency: Yes

OI clusters: Largest OI clusters: big call walls at $400 and $500 (24k–30k OI) and put concentration around $210 and $300. Near-term OI density and GEX concentration around $387.50–$400.00 create a short-term magnet in the $390–$400 band.

Hedging evidence: Some defensive hedging exists — notable multi‑month put OI at $300 and $350 and short-dated protective buys near $370–$380 — but these are smaller in premium terms versus the front-end call flow, implying hedges are not the dominant driver today.

Max pain context: Max pain for near expirations sits lower ($360→$355) but the rising MP trend across expirations (MP rising $360 → $390) plus front-end call demand suggests institutions are positioning to skew realized pin higher than the immediate MP, reinforcing dealer pinning around $390–$400.

Signal vs Noise

~Very large same‑day (2026-04-15) volumes on tiny-credit / cheap options (Last $0.01–$0.20) are classic lottery/short-dated speculative buys — strong directional signal for dealer hedging but limited long-term conviction.

~Much of the activity is expiry-day churn (4/15 prints). Expect heavy market‑maker inventory flows and rolling; some prints are likely expiration closes/rolls rather than fresh directional institutional bets.

~Far-OTM tiny-premium puts/calls (e.g., $377.50/$380 with Last=$0.01) should be treated as high-frequency retail/spec flow — they move gamma but are low notional vs multi-month OI clusters and so are noisy for structural positioning.

Key Conclusions

🐂Short-term flow is bullish and concentrated at 390–400; dealers are long gamma and will likely buy stock into upside moves, creating a pin/magnet near $390–$400.

⚠️Large same-day cheap call prints amplify intraday pinning but are expiry-driven noise for multi-week positioning — monitor 2d EM lower bound $378.70 for invalidation.

🧭Key support cluster: $360.00 and $355.73 (deterministic supports); Resistance cluster: $400.00, $405.00 and $428.18 — these are the levels that matter within ±10% of spot.

Read the Flow analysis for TSLA for 2026-04-15. Each report is a market-close snapshot with regime read, key levels, and strategy context that translates options positioning into an actionable setup.