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TSLA

Tesla, Inc.Close $391.00EOD only
Max Pain
$422.50
Next expiry Jun 8, 2026
Expected Move
±$11.60
3.0% from close
Price Gap
+31.50
Distance to max pain
IV Rank
72
High premium
P/C OI
0.71
Slightly call-heavy
Consensus
6.5/10
Bearish tilt
Published snapshot: Jun 5, 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
Jun 5, 2026 close
TSLA Theta Report
Analysis based on market close June 8, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Theta Verdict

Attractiveness8 / 10
Sizing: Moderate
Primary: Short Put
Invalidation: SPY fails to hold 420 support
Confidence:
9 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); +1 spot 1.0% from MP; +0.5 VIX 19

IV Environment

IV Regime
High
IV vs VIX
IV (72%) is ~3.8x VIX (18.9), elevated
Favorable?
Yes

Term structure: Front-end elevated with 1-2d ATM IV 42-50%, skew steep in calls

📊IV term structure steep with call skew elevated near expiry

Pin Risk Assessment

Spot vs MP: At

GEX regime: Pinning ($+138.7M)

Gamma flip: ~$300.00 — Approx — based on put OI concentration of 22,939 (26.6% below spot)

OI concentrations: Max pain pins: 405 (6/8), 412 (6/10, 6/12). Support 405, 378.7; resistance 430, 439.2

Verdict: High pin risk near 405-412; dealer gamma positioning supports pinning

Premium Opportunities

#1
Put credit spread
Sell 2026-07-17 $400.00/$395.00 put spread
Sell 400/395 put spread, collect ~2.36 credit, max loss 2.64.
Credit: $1.93-$2.36
Max loss: $2.64
BE: $397.64
Mgmt: Close if TSLA breaks below 405; roll if pinned near 400.
#2
Iron condor
Sell 2026-07-17 $390.00/$380.00 put wing and $430.00/$440.00 call wing
Sell 390/380 put and 430/440 call spreads, net credit ~7.23.
Credit: $5.92-$7.23
Max loss: $2.77
BE: 382.77 / 437.23
Mgmt: Adjust wings if pin zone shifts; exit at 50% max gain.
#3
Put calendar
Sell 2026-07-10 $400.00 put / buy 2026-08-21 $400.00 put
Sell 7/10 put, buy 8/21 put at 400 strike.
Debit: $11.07-$13.53
Max loss: $13.53
BE: Path-dependent
Mgmt: Manage gamma near expiry; roll if IV spike.

Risk Alerts

!High pin risk near 405-412 due to concentrated OI
!Steep term structure and elevated call skew near expiry increase tail risk
How to Use These Reports
This theta reflects the market close on June 8, 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.