A Tesla charging station behind the Conoco Tower Station and U Drop Inn Cafe along historic Route 66 in Shamrock, Texas, June 7, 2026.
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options traders are betting tesla When the electric car giant makes its announcement after the bell on Wednesday, it could see its biggest post-earnings move in a year.
Current at-the-money put and call prices imply an upside of 5.76%, the largest implied increase since traders priced in a 6% move in October 2025. This would be the largest realization since July last year. Option flow was bullish on Tuesday, with traders buying 244,000 calls compared to 116,000 puts by midday, with calls accounting for more than two-thirds of total premium trading.
Tesla’s top three most active contracts by volume were calls, with traders spending the most premium on the 380 calls expiring on Friday. Traders spent more than $15 million on near-at-the-money calls at a price of about $11 per contract, meaning they would need to rise 3% by the end of the week to take a profit.
Tesla stock has traditionally been slow on earnings day, although options traders are expecting big price moves. In fact, the median stock price has increased just 3.5% over the past four quarters, according to CBOE data.
Also of interest to Musk-focused traders will be SpaceX’s first earnings report since its initial public offering last month. A potential wildcard for the market occurs on August 4th. The options market is currently suggesting a 12% move in either direction.
“If you want to be aggressive, you could argue that (Tesla) is hanging on to support and take the long side. I think long-term, but it’s been more or less range-bound since the beginning of the year,” TheoTrade instructor Gianni Di Poce said by phone. “The whole SpaceX thing is weighing on it, and people are trying to figure out which one to own and whether to merge.”
After its historic IPO in June, SpaceX stock soared toward a $2 trillion valuation. But the stock price has since plummeted, and the company is now valued at just under $1.7 trillion, slightly more than Tesla’s $1.4 trillion.
CNBC’s Oliver Rennick contributed reporting.
