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TSLA

Tesla, Inc.Close $392.50EOD only

Max Pain

$375.00

Next expiry Apr 24, 2026

Expected Move

±$23.27

5.9% from close

Price Gap

-17.50

Distance to max pain

IV Rank

Low premium

P/C OI

0.77

Slightly call-heavy

Consensus

6.0/10

Consensus signal

Published snapshot: Apr 20, 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 20, 2026 close

TSLA Flow Report

Analysis based on market close April 21, 2026

Directional Theta Gang Flow Earnings Consensus

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

Flow Verdict

Confidence:

6 / 10

base 5; -1 GEX/flow contradict; +1 GEX positive (pinning); +0.5 spot 1.7% from MP; +0.5 VIX 20

Watch next session: Monitor 390–393 strike cluster and 4/24 expirations; Watch intraday IV and net premium flow; Watch spot relative to MP and gamma flip level

Flow Summary

Net premium: -$52.2M bearish

P/C volume ratio: 0.91

P/C OI ratio: 0.76

Pinning regime: positive GEX and spot above MP suggest short-delta pin; heavy unusual put volume clustered 385–397 and large call activity around 390–392 create tight strikes; gamma flip ~300 and high IV make pin fragile — a VIX/put-driven move could flip bias.

Notable Prints

TSLA 2026-04-27 $397.50 Put

Vol: 4,918

OI: 220

Vol/OI: 22.4x

IV: 57.1%

Notional: ~$8.5M

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

TSLA 2026-04-24 $422.50 Put

Vol: 2,351

OI: 112

Vol/OI: 21.0x

IV: 72.1%

Notional: ~$8.8M

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

TSLA 2026-04-24 $387.50 Put

Vol: 23,518

OI: 1,546

Vol/OI: 15.2x

IV: 69.5%

Notional: ~$27.9M

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

TSLA 2026-04-27 $387.50 Put

Vol: 3,279

OI: 223

Vol/OI: 14.7x

IV: 56.7%

Notional: ~$4.2M

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

TSLA 2026-04-24 $392.50 Put

Vol: 28,189

OI: 2,036

Vol/OI: 13.8x

IV: 69.7%

Notional: ~$41.5M

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

Institutional Positioning

Call additions: Heavy call buys concentrated 385–392.5 Apr24/27 (largest OI at 390/392.5).

Put additions: Notable put flow clustered 387.5–397.5 with peaks at 390/392.5—dual‑sided activity suggests hedging and directional bets.

GEX/DEX consistency: GEX modestly positive (+$82.4M) and DEX buyback present (+121.3M shares); both mildly supportive of pinning but magnitude is limited and flow is mixed.

OI clusters: Largest OI cluster ~390–392.5 (both calls and puts); secondary put interest near gamma flip ~22% below spot.

Hedging evidence: Patterns consistent with protective puts and collar-like structures around 385–397 strikes, signaling risk management by institutions.

Max pain context: Max pain ~390–392.5; given mixed flow and modest GEX/DEX, probability of pinning is elevated but moderate (estimated 40–60%).

Signal vs Noise

~Signal (high confidence): concentrated Apr24 390/392.5 dual‑sided OI — material for pin risk.

~Signal (medium): put prints near gamma flip imply institutional hedging rather than pure directional conviction.

~Noise (low weight): isolated out‑of‑range prints (e.g., 397.5) — low probability to shift pin unless followed by additional large prints.

~Sensitivity: conclusions hinge on follow‑up flow; single large prints reduce confidence by ~20% absent reinforcing activity.

Key Conclusions

📌Elevated pin risk centered 390–392.5 but confidence moderate due to mixed flow and only modest GEX/DEX support.

🔁Flow favors protection/hedging; expect elevated vol and stickiness near clustered strikes until more confirming flow appears.

How to Use These Reports

This flow reflects the market close on April 21, 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.