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TSLA

Tesla, Inc.Close $381.61EOD only
Max Pain
$402.50
Next expiry Jun 24, 2026
Expected Move
±$8.32
2.2% from close
Price Gap
+20.89
Distance to max pain
IV Rank
9
Low premium
P/C OI
0.73
Slightly call-heavy
Consensus
6.0/10
Bearish tilt
Published snapshot: Jun 23, 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 23, 2026 close
TSLA Theta Report
Analysis based on market close June 24, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Theta Verdict

Attractiveness7 / 10
Sizing: Moderate
Primary: Iron Condor
Invalidation: Spot breaks below 347.83 or above 390.20
Confidence:
7 / 10
base 5; +2 GEX/flow strongly aligned; -0.5 spot 3.1% from MP; +0.5 VIX 19

IV Environment

IV Regime
High
IV vs VIX
IV 65% well above VIX 19
Favorable?
Yes

Term structure: Front-end spike at Jun26 expiry (42% ATM); contango after

📈High IV attractive for premium selling
⚠️Negative GEX -$107M risks accelerated moves
🎯Spot ~3% below max pain $388

Pin Risk Assessment

Spot vs MP: Below

GEX regime: Trending ($-107.4M)

Gamma flip: ~$300.00 — Approx — based on put OI concentration of 20,309 (20.1% below spot)

OI concentrations: Call OI $400-$500; put floor $200-$300; gamma flip at $300

Verdict: Negative gamma reduces pinning; bias toward max pain but risky

Premium Opportunities

#1
Iron condor
Sell 2026-07-17 $350.00/$325.00 put wing and $410.00/$440.00 call wing
Sell OTM puts and calls to profit from volatility crush within expected range.
Credit: $6.82-$8.34
Max loss: $21.66
BE: 341.66 / 418.34
Mgmt: Close at 50% max gain or before earnings.
#2
Put diagonal
Sell 2026-07-24 $355.00 put / buy 2026-07-31 $350.00 put
Short-term put sell with long-term put protection to profit from IV crush.
Debit: $0.16-$0.19
Max loss: $0.19
BE: Path-dependent
Mgmt: Adjust if spot breaks invalidation level.
#3
Covered call
Buy shares + sell 2026-07-24 $410.00 call
Sell call against long stock to collect premium.
Credit: $7.88-$9.62
Max loss: Stock downside to $0 less call premium
BE: $365.91
Mgmt: Roll or close if stock surges past strike.

Risk Alerts

!High IV and negative gamma can cause sharp moves
!Front-end IV spike suggests event risk Jun26 expiry
!Dealer short gamma amplifies directional risk
How to Use These Reports
This theta reflects the market close on June 24, 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.