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TSLA

Tesla, Inc.Close $417.85EOD only

Max Pain

$410.00

Next expiry May 22, 2026

Expected Move

±$8.23

2.0% from close

Price Gap

-7.85

Distance to max pain

IV Rank

Middle-high premium

P/C OI

0.74

Slightly call-heavy

Consensus

7.0/10

Bullish tilt

Published snapshot: May 21, 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 21, 2026 close

TSLA Theta Report

Analysis based on market close May 21, 2026

Directional Theta Gang Flow Earnings Consensus

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

Theta Verdict

Confidence:

9 / 10

base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); +0.5 spot 1.9% from MP; +1 VIX 17

IV Environment

IV Regime

High

IV vs VIX

Avg IV 62.9% vs VIX 16.8; rich premium

Favorable?

Yes

Term structure: Short-term backwardated, then contango; extreme 1d put IV due to pinning

📊Avg IV 62.9% vs VIX 16.8; rich premium environment

📌Max pain $410-$425; put OI 21.7k below spot

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+165.9M)

Gamma flip: ~$300.00 — Approx — based on put OI concentration of 21,731 (28.2% below spot)

OI concentrations: Put OI: 21,731 contracts (28.2% below spot); Call wall $440-$500

Verdict: High pin risk near expiration; spot above max pain, likely drift toward $410-$425

Premium Opportunities

Put credit spread

Sell 2026-06-26 $395.00/$380.00 put spread

Captures time decay with defined risk; invalid below $410.

Credit: $3.83-$4.68

Max loss: $10.32

BE: $390.32

Mgmt: Close at 50% gain or if spot breaks $410.

Iron condor

Sell 2026-07-17 $390.00/$370.00 put wing and $470.00/$505.00 call wing

Collects theta from both sides; no clear invalidation.

Credit: $10.35-$12.65

Max loss: $22.35

BE: 377.35 / 482.65

Mgmt: Manage at 50% gain; adjust if spot nears short strikes.

Risk Alerts

!Gamma flip at ~$300

!Gap risk if earnings

!Dealer delta hedged with $+165.9M gamma exposure

How to Use These Reports

This theta reflects the market close on May 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.