TSLA’s Dec-19-25 500 Call Dominates With 23,768 Contracts—Is This Out-of-the-Money Bet Hinting at Bullish Ambitions?
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Massive 23,768-Contract Volume Reveals High Conviction at 500 Strike
Tesla’s option market woke up early today with an eye-catching move: 23,768 contracts traded in the Dec-19-25 500 Call. This single contract represented 11.6% of all TSLA options volume so far—putting it in a league of its own. With the underlying stock hovering at $485.12, this strike sits $14.88 out-of-the-money, making it a bold play for those chasing a late-session rally.
0DTE Play Grabs Attention as Bulls Eye an End-of-Day Surge
The Dec-19-25 500 Call is a zero days-to-expiry (0DTE) contract, set to expire by the close of today’s trading. Traders looking for fireworks had plenty to watch: The contract opened at $1.12, quickly ran to a high of $1.75, but also touched a low of just $0.53. By 9:51 AM, it last traded at $0.67—a round trip that underlines the intense speculation packed into 0DTE plays.
| Option | Strike | Expiration | Volume | VWAP | Open Interest* | Price Range | % of Total Vol |
|---|---|---|---|---|---|---|---|
| Call | 500 | Dec-19-25 (Today) | 23,768 | $1.04 | 67,406 | $0.53–$1.75 | 11.6% |
*Open interest as of 7:00 AM today; today’s trading will be reflected tomorrow.
Order Flow Data Shows Even Split—Slightly More Sellers Than Buyers
The order flow for the 500 Call reveals an even match-up: 45.9% of contracts bought versus 54.1% sold. This mix of buyers and sellers means the market isn’t unanimous—traders are split between a bet on a late rally and a belief that TSLA may stay grounded under $500 for today.
Digging further, nearly half of trades (49%) are tagged as large or professional, while the other 51% are smaller or retail orders. The presence of large players adds gravitas to the volume, suggesting institutional eyes are watching this expiration closely.
| Metric | Percentage |
|---|---|
| Bought | 45.9% |
| Sold | 54.1% |
| Large/Pro | 49% |
| Small/Retail | 51% |
TSLA Shares Drift Near Range Low, Keeping Bulls on Their Toes
TSLA has traded in a narrow band today, from a low of $483.31 to a high of $490.49. The current price at $485.12 sits just 0.36% above yesterday’s close and $14.88 shy of the 500 strike. That’s a tight margin for 0DTE calls, especially with such a heavy flow of contracts early in the session.
Open Interest Suggests Steady Interest, But Positioning Unclear Until Settlement
As of the morning, open interest on the 500 Call is 67,406—up by 773 contracts from yesterday. However, open interest won’t update with today’s trades until the following business day, so it’s too early to know if the action represents opening new bets or closing out old ones.
Key Takeaway: High-Volume, Out-of-the-Money Call Suggests Aggressive—but Divided—Expectations for TSLA’s Session
The surge of trading in the Dec-19-25 500 Call shines a spotlight on trader appetite for a dramatic finish to TSLA’s trading day. While heavy volume often hints at strong directional views, today’s even split between buyers and sellers means the market remains undecided. Traders may want to keep watch as the session unfolds—if TSLA pushes toward $500, today’s most popular contract could flip from out-of-the-money to an attention-grabbing winner by the bell.
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