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TSLA

Tesla, Inc.Close $435.79EOD only
Max Pain
$435.00
Next expiry Jun 1, 2026
Expected Move
±$8.82
2.0% from close
Price Gap
-0.79
Distance to max pain
IV Rank
62
High premium
P/C OI
0.74
Slightly call-heavy
Consensus
8.5/10
Bullish tilt
Published snapshot: May 29, 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 29, 2026 close
TSLA Flow Report
Analysis based on market close April 17, 2026
DirectionalTheta GangFlowEarningsConsensus

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

You are viewing an older report from April 17, 2026. A newer flow report is available for May 26, 2026.

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Flow Verdict

BiasBullish
Confirmation: Large same-day call and put prints concentrated near 400–408 with +$695.6M GEX, pinning regime, DEX showing +145M shares; net premium and GEX alignment support upside
Invalidation: Sustained drop toward/through heavy put concentration (~395–405) or VIX surge >20 with follow‑through selling that flips gamma negative
Confidence:
8 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 9.0% from MP; +1 VIX 17

Watch next session: Price holds above 395–405 consolidation; VIX >20 or rising sharply; New large put prints or heavy put buying

Flow Summary

Net premium: +$1.1B bullish

P/C volume ratio: 0.51

P/C OI ratio: 0.72

Bullish pinning flow: strong positive GEX and large option prints concentrated at ~400–408 drive pinning; upside likely if price holds, but a sharp selloff through the put cluster or elevated VIX would invalidate.

Notable Prints

#1
TSLA 2026-04-17 $402.50 Put
Vol: 106,035
OI: 143
Vol/OI: 741.5x
IV: 7.8%
Notional: ~$18.6M
Intent: aggressive short-dated put buying (protection/speculative)
Dual read: could be block sell-to-open from liquidity provider

Read-through: adds downside pinning risk ~402.5

#2
TSLA 2026-04-17 $397.50 Put
Vol: 78,952
OI: 384
Vol/OI: 205.6x
IV: 8.0%
Notional: ~$158K
Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

#3
TSLA 2026-04-20 $400.00 Put
Vol: 45,769
OI: 285
Vol/OI: 160.6x
IV: 28.4%
Notional: ~$20.2M
Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

#4
TSLA 2026-04-17 $405.00 Put
Vol: 125,645
OI: 1,043
Vol/OI: 120.5x
IV: 20.9%
Notional: ~$55.5M
Intent: protective hedges or directional put buying
Dual read: could be large dealer hedge/sell

Read-through: reinforces short-term put interest near 405

#5
TSLA 2026-04-17 $407.50 Call
Vol: 242,917
OI: 3,328
Vol/OI: 73.0x
IV: 14.1%
Notional: ~$243K
Intent: bullish call accumulation or sideways selling into size
Dual read: could be sell-to-open (income)

Read-through: call flow offsets puts, supports pinning between 402–408

Institutional Positioning

Call additions: Concentrated call buys and OI at 402.5–407.5 expiring 4/17; large rollups into short-dated calls indicating buy interest but not unambiguous directional conviction.

Put additions: Heavy short-dated put prints and OI 395–410 (notably 400,402.5,405,410) consistent with protective hedging or mixed bearish exposure alongside call activity.

GEX/DEX consistency: Positive GEX (+695.6M) and net DEX share activity align with buy-side flow that can create dealer short-gamma; this increases pinning potential but does not guarantee it.

OI clusters: Largest OI clusters: calls 402.5/407.5 (4/17) and puts clustered 400–410 (4/17–4/20).

Hedging evidence: Coexistence of call blocks and short-dated puts points to a blend of directional call buying and protective structures (collars/puts); dealer delta-hedging of either can produce similar market pressure.

Max pain context: Gamma pinning is a possible regime given positioning and dealer hedging incentives, but outcome is conditional on spot moves and trade flow near expiry.

Signal vs Noise

~Signal: large call OI at 402.5–407.5 implies dealer short-gamma risk if spot approaches strikes.
~Signal: GEX/DEX uplift supports buy-side pressure but is one input, not definitive proof of pinning.
~Noise: small-print/high-price/low-OI trades likely routing or retail churn and shouldn’t be overweighted.

Key Conclusions

📌Conditional pinning risk—dealer short-gamma from concentrated OI could stabilize spot near strikes if buy flow persists.
🛡️Protective put buildup signals downside hedging; volatility/skew may spike if spot moves into put clusters.
⚖️Flow is mixed: directional call buys coexist with protective structures, so monitor delta-hedging flows rather than assuming one-sided exposure.
How to Use These Reports
This flow reflects the market close on April 17, 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.

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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.