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TSLA

Tesla, Inc.Close $404.11EOD only
Max Pain
$417.50
Next expiry May 20, 2026
Expected Move
±$8.10
2.0% from close
Price Gap
+13.39
Distance to max pain
IV Rank
30
Middle-high premium
P/C OI
0.76
Slightly call-heavy
Consensus
8.0/10
Bullish tilt
Published snapshot: May 19, 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 19, 2026 close
TSLA Theta Report
Analysis based on market close May 15, 2026
DirectionalTheta GangFlowEarningsConsensus

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

You are viewing an older report from May 15, 2026. A newer theta report is available for May 19, 2026.

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Theta Verdict

Attractiveness8 / 10
Sizing: Aggressive
Primary: Short Puts at Support
Invalidation: Break below $397 support or VIX > 22
Confidence:
8.5 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); +0.5 VIX 18

IV Environment

IV Regime
High
IV vs VIX
Avg IV 64.9% vs VIX 18.4 => rich premium
Favorable?
Yes

Term structure: 0DTE IV extreme; 3-7d backwardation; longer-dated flat around 45%

📈Bullish flow and pinning gamma support premium selling
⚠️Front-end IV spike suggests event risk near 5/15 expiry

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+150.1M)

Gamma flip: ~$300.00 — Approx — based on put OI concentration of 21,368 (29.0% below spot)

OI concentrations: Max pain $410 5/15; call wall $445-$600; put floor $250-$300

Verdict: High pinning risk near $410 expiration; dealer hedging supports

Premium Opportunities

#1
Put credit spread
Sell 2026-06-05 $400.00/$395.00 put spread
Sell $400/$395 put spread collecting ~1.54 credit; risk limited to $3.46.
Credit: $1.26-$1.54
Max loss: $3.46
BE: $398.46
Mgmt: Exit if TSLA drops below $397; roll or close at 50% profit.
#2
Cash-secured put
Sell 2026-06-05 $400.00 cash-secured put
Sell $400 CSP for ~8.75 credit; obligated to buy 100 shares at $400 if assigned.
Credit: $7.16-$8.75
Max loss: $391.25
BE: $391.25
Mgmt: Monitor support $397; roll down if threatened or take assignment.

Risk Alerts

!0DTE IV surge indicates gamma squeeze potential
!Watch VIX move above 20 for regime shift
How to Use These Reports
This theta reflects the market close on May 15, 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.