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TSLA

Tesla, Inc.Close $400.62EOD only

Max Pain

$372.50

Next expiry Apr 20, 2026

Expected Move

±$9.58

2.4% from close

Price Gap

-28.12

Distance to max pain

IV Rank

100

High premium

P/C OI

0.72

Slightly call-heavy

Consensus

6.0/10

Consensus signal

Published snapshot: Apr 17, 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 17, 2026 close

TSLA Flow Report

Analysis based on market close April 20, 2026

Directional Theta Gang Flow Earnings Consensus

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

Flow Verdict

Confidence:

9 / 10

base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); +0.5 spot 1.9% from MP; +0.5 VIX 19

Watch next session: monitor mark price vs MP and size of end-of-day pinning; watch IV and volume at 390–398 strikes; track GEX intraday shifts and net premium flow

Flow Summary

Net premium: +$161.0M bullish

P/C volume ratio: 0.73

P/C OI ratio: 0.77

Bullish pinning: strong positive GEX and buy flow suggest deliberate upside support, but extreme same‑day put concentration near the money creates tangible gamma/flip risk.

Notable Prints

TSLA 2026-04-20 $392.50 Put

Vol: 188,679

OI: 1,738

Vol/OI: 108.6x

IV: 3.3%

Notional: ~$4.7M

Intent: large same-day tailsale; aggressive downside hedge or directional sell

Dual read: pinning via heavy put flow vs. panic-driven hedging

Read-through: adds put concentration just below spot; raises pin risk

TSLA 2026-04-20 $397.50 Call

Vol: 89,769

OI: 970

Vol/OI: 92.5x

IV: 11.9%

Notional: ~$90K

Intent: short-dated call speculation or hedge unwind

Dual read: directional upside bet vs. spread leg

Read-through: adds upside gamma/call interest near 397.5

TSLA 2026-04-20 $395.00 Call

Vol: 255,051

OI: 3,052

Vol/OI: 83.6x

IV: 6.1%

Notional: ~$255K

Intent: short-dated call selling/roll or gamma sell into close

Dual read: dealer delta hedging vs. flow-driven call sell

Read-through: boosts short-gamma near strike; supports pin

TSLA 2026-04-20 $390.00 Put

Vol: 281,891

OI: 3,597

Vol/OI: 78.4x

IV: 6.8%

Notional: ~$282K

Intent: large protective puts or directional short

Dual read: risk hedge vs. speculative crash bet

Read-through: increases downside exposure and dealer hedging needs

TSLA 2026-04-20 $392.50 Call

Vol: 234,122

OI: 2,999

Vol/OI: 78.1x

IV: 2.7%

Notional: ~$4.7M

Intent: call buys offsetting puts or pin pressure trades

Dual read: buying vs. conversion/box activity

Read-through: mixed buy/sell reduces clarity but concentrates gamma at 392.5

Institutional Positioning

Call additions: Same‑day large call prints concentrated 392–397.5; may reflect transient buy flow into expiry rather than durable directional commitment.

Put additions: Notable put prints 387.5–395 with elevated front‑month OI, indicating downside interest clustered near 390–392.5.

GEX/DEX consistency: Positive GEX (+$146M) and DEX buying are consistent with net call skew/support, but magnitude implies moderate—not overwhelming—dealer exposure.

OI clusters: Biggest OI concentrations around 390–395 (both puts and calls); minor long‑dated call stub near 800.

Hedging evidence: Some short‑gamma hedging appears present around cluster levels; evidence is limited to front‑month gamma and dealer delta estimates rather than a clear large directional unwind — treat as plausible hedging activity, not proven.

Max pain context: Spot sits ~1.9% above calculated MP; combined flow and OI raise a moderate probability of pinning toward 392–395, but confidence is limited and intraday prints may be noise.

Signal vs Noise

~Signal: concentrated front‑month call+put OI 392–395 — increases chance of pinning (moderate confidence).

~Signal: +GEX/+DEX align with short‑Gamma/dealer hedging supporting spot, but exposure size is moderate.

~Noise: same‑day/large prints can be transient; isolated prints not definitive of durable positioning.

Key Conclusions

📌Moderate pin risk at 392–395 into expiry; treat as probabilistic (not certain) given intraday print volatility.

📈Flow leans bullish via positive GEX/DEX and front‑month net calls, but dealer hedging evidence is moderate and partially circumstantial.

How to Use These Reports

This flow reflects the market close on April 20, 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.