Shares of Tesla Inc (NASDAQ:TSLA) were last seen down 3.1% at $395.06, despite a price-target hike from Jefferies to $400 from $375. The brokerage is one of several to lift its price objective after the electric vehicle (EV) maker reported strong second-quarter delivery numbers. Tesla has also remained in focus as it expands its Robotaxi service, which launched in Miami earlier this month.
The optimistic headlines have yet to translate into sustained upside, however. TSLA is down 12.2% year to date, though it remains one of the most actively traded names in the options market. Per Schaeffer's Quantitative Analyst Rocky White's list of stocks sporting the most active options over the past two weeks, Tesla saw 18.9 million calls and 13.2 million puts during this time frame, with the most activity seen at the weekly 7/10 410-strike call.
Options are affordably priced, per the TSLA's Schaeffer's Volatility Index (SVI) of 44% that stands in the 22nd percentile of its annual range. It's also worth noting that stock's Schaeffer's Volatility Scorecard (SVS) comes in at 11 out of 100, meaning the stock has consistently realized lower volatility than its options have priced in over the past 12 months, making it a premium selling candidate.
