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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 19, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Theta Verdict

Attractiveness8 / 10
Sizing: Moderate
Primary: Bull put spreads
Invalidation: Spot <300 or VIX >25
Confidence:
8 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -0.5 spot 3.2% from MP; +0.5 VIX 18

IV Environment

IV Regime
High
IV vs VIX
IV significantly above VIX
Favorable?
Yes

Term structure: Front-end elevated, upward sloping

📈Avg IV 66.6% vs VIX 18 => rich premium selling
📊Term structure upward sloping; longer-dated IVs above 40%
💹Dealer GEX +$54M bullish flow supports premium selling

Pin Risk Assessment

Spot vs MP: Below

GEX regime: Pinning ($+54.0M)

Gamma flip: ~$300.00 — Approx — based on put OI concentration of 21,250 (25.8% below spot)

OI concentrations: Max pain: $418 (20th), $415 (22nd), $422 (26th); Call wall $450-$600, put floor $250-$300

Verdict: Spot below max pain; gamma pinning with positive GEX; pin risk low for sellers

Premium Opportunities

#1
Put credit spread
Sell 2026-06-18 $385.00/$355.00 put spread
Sell OTM put spread to collect premium with wide buffer.
Credit: $6.41-$7.84
Max loss: $22.16
BE: $377.16
Mgmt: Close at 50% gain or if spot breaks $375.
#2
Iron condor
Sell 2026-06-18 $375.00/$345.00 put wing and $450.00/$495.00 call wing
Short wings outside expected move, defined risk.
Credit: $8.75-$10.69
Max loss: $34.31
BE: 364.31 / 460.69
Mgmt: Adjust wings if spot nears short strikes.
#3
Call diagonal
Sell 2026-06-12 $435.00 call / buy 2026-07-17 $415.00 call
Short near-term call vs long further call for directional skew.
Debit: $15.68-$19.17
Max loss: $19.17
BE: Path-dependent
Mgmt: Roll short call if tested.

Risk Alerts

!Resistance $417.5; gamma flip at $300
!SPY negative macro headwind
How to Use These Reports
This theta reflects the market close on May 19, 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.