TSLA's Dec-05-25 $435 Call Leads With 10,991 Contracts—Bullish Flow as Stock Jumps 1.52%
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Tesla (TSLA) drew intense options activity early in today’s session, with the Dec-05-25 $435 call topping the tape—10,991 contracts traded by 9:51 AM, representing 8.3% of all TSLA options activity. This surge coincided with TSLA’s stock climbing $6.54 (1.52%) to $435.78, suggesting strong directional interest as the contract traded actively both above and below its opening price.
Majority of Flow Was on the Buy Side—Over 61% Bought, Large Trades Present
Drilling into the order flow, roughly 61.2% of trades on this option contract were buyers, with the remaining 38.8% on the sell side. Retail traders led the charge (69%), but a significant 31% of the flow was attributed to large or professional orders—a hint that institutions may also be active in the name.
| Contract | Volume | % Total Volume | VWAP ($) | % Bought | % Sold | Retail (%) | Large/Pro (%) |
|---|---|---|---|---|---|---|---|
| Dec-05-25 435 Call | 10,991 | 8.3% | 7.10 | 61.2% | 38.8% | 69% | 31% |
Implied Volatility Pops Higher—Peak IV Hits 38.4% as Prices Rally
Traders paid up for exposure: the VWAP (volume-weighted average price) reached $7.10, climbing sharply from an open of $5.50 to a high of $8.50 before settling last at $7.50. Implied volatility (IV) surged as well, reaching a session high of 38.4% from a previous close of 36.1%—an increase of 1.3 percentage points. This marks the upper end of today’s IV range and suggests growing demand for TSLA call options amid price momentum.
| Metric | Value |
|---|---|
| Last IV (%) | 38.3 |
| Prev Day IV (%) | 36.1 |
| Day’s IV Range (%) | 33.2 – 38.4 |
| VWAP ($) | 7.10 |
| High/Low Price ($) | 8.50 / 5.10 |
| Last Price ($) | 7.50 |
Open Interest and Prior Activity—Large Uptick Precedes Today’s Volume
Open interest for this strike stood at 10,727 contracts as of early morning—an increase of 2,079 from the prior day’s settle. While today’s heavy trading won’t show up in the official tally until tomorrow, the large jump in open interest signals notable new positioning in recent sessions. It’s not clear if today’s trades are opening or closing positions, but the volume relative to open interest is significant and merits attention.
Key Takeaways—Upside Bets Drive TSLA Options
What’s driving this surge? With over 61% of trades executed on the buy side and implied volatility moving swiftly higher, traders seem eager for leveraged exposure to TSLA’s potential upside through year-end 2025. Retail and professional activity alike point to elevated interest, with the market pricing in larger moves than recent averages.
Whether this represents confident directional bets or proactive hedging remains unclear—but TSLA traders will want to watch for how open interest updates tomorrow and whether this wave of call buying turns into a sustained trend. With both volatility and call volume surging together, a key question remains: will Tesla deliver the upside these option buyers are looking for?
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