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TSLA

Tesla, Inc.Close $417.26EOD only
Max Pain
$410.00
Next expiry May 22, 2026
Expected Move
±$12.60
3.0% from close
Price Gap
-7.26
Distance to max pain
IV Rank
40
Middle-high premium
P/C OI
0.74
Slightly call-heavy
Consensus
8.0/10
Bullish tilt
Published snapshot: May 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
May 20, 2026 close
TSLA Theta Report
Analysis based on market close May 20, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Theta Verdict

Attractiveness8 / 10
Sizing: Aggressive
Primary: Short Put
Invalidation: Spot breaks below $405 support
Confidence:
8.5 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -0.5 spot 3.0% from MP; +1 VIX 17

IV Environment

IV Regime
High
IV vs VIX
IV much higher than VIX, indicating elevated option premiums
Favorable?
Yes

Term structure: Term structure modestly contango after initial dip; front-end elevated due to near-expiry dynamics

📈IV at 66.9% vs VIX 17.4, offering rich premium
⚡GEX +$280.6M bullish flow; put/call volume ratio 0.49

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+280.6M)

Gamma flip: ~$300.00 — Approx — based on put OI concentration of 21,347 (28.1% below spot)

OI concentrations: Max pain concentrations at $405, $410, $418 for near-term expiries

Verdict: Elevated pin risk with OI clustered at $405-$418; positive gamma supports pinning

Premium Opportunities

#1
Put credit spread
Sell 2026-06-12 $405.00/$400.00 put spread
Sell put spread to collect premium with capped downside.
Credit: $1.69-$2.06
Max loss: $2.94
BE: $402.94
Mgmt: Monitor 405 invalidation; exit if breached.
#2
Cash-secured put
Sell 2026-06-12 $400.00 cash-secured put
Sell put to generate income or acquire stock at lower price.
Credit: $9.45-$11.55
Max loss: $388.45
BE: $388.45
Mgmt: Manage at 405 invalidation; roll or accept assignment.

Risk Alerts

!Gamma flip at $300 represents downside tail risk.
!Front-end put IV elevated, suggesting hedging demand.
How to Use These Reports
This theta reflects the market close on May 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.