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Options Volume Spike: Jan-2026 455 Put Accounts for 5.4% of TSLA’s Options Market
This morning, a singular TSLA option—the Jan-02-26 455 put—stood out, tallying 7,872 contracts traded as of 9:54 AM. That’s 5.4% of all Tesla options volume today, indicating a meaningful influx of capital betting on moves around the $455 level far into the future.
Bearish Sentiment Leads: Over Half of Trades Were Buyers
Order flow analysis reveals that 58% of today’s Jan-02-26 455 put trades were on the buy side, suggesting traders are positioning for downside—or hedging current TSLA holdings. The remaining 42% were sellers, hinting at mixed sentiment but a bias toward demand for protection or speculative bearishness.
| Trade Detail | Value |
|---|---|
| Contract | Jan-02-26 455 Put |
| Volume | 7,872 |
| Percent of Total TSLA Options Volume | 5.4% |
| Trade VWAP ($) | 6.96 |
| Highest Trade Price ($) | 7.86 |
| Lowest Trade Price ($) | 4.80 |
| Last Trade Price ($) | 7.26 |
| Percent Bought | 58% |
| Percent Sold | 42% |
| Retail/Small Trades | 86% |
| Large/Professional Trades | 14% |
Retail Traders Dominate: 86% of Flow From Smaller Accounts
Most of the action in the Jan-2026 put came from retail-sized trades (86%), with only 14% attributed to large, professional orders. This highlights unusually high interest from individual investors on a long-dated put—potentially a play on volatility, earnings uncertainty, or broader economic anxieties.
Implied Volatility Trends Slightly Lower Even as Puts Trade Heavily
Implied volatility (IV) for this contract opened at 38.8% and traded in a moderate range (low of 37.6%, high of 40.0%) before ticking up to 39.1%. That’s a small dip (-0.7%) from the previous day’s close, suggesting the market is not pricing in extra risk today despite the put volume.
| IV Statistic | Value |
|---|---|
| VWIV (%) | 38.8 |
| Previous Close IV (%) | 39.1 |
| Change from Previous IV (%) | -0.7 |
| Open IV (%) | 38.8 |
| IV Range | 37.6 – 40.0 |
| Last IV (%) | 39.1 |
Open Interest and Positioning: Watching for Tomorrow’s Confirmation
While open interest stood at 7,383 contracts for this put this morning—a gain of 1,112 from the day before—that figure won’t reflect today’s trades until the next business day. Today’s surge could signal either new positions being opened or older ones being closed, but we’ll need to wait for confirmation.
Takeaway: Retail Traders Drive Long-Dated Put Volume as Volatility Holds Steady
Today’s surge in the Jan-02-26 455 put contract, heavily driven by smaller, retail trades and a 58% buy-side imbalance, points to mounting—though not urgent—demand for protection or speculative downside in TSLA. With implied volatility sliding slightly, the option’s pricing reflects neither panic nor exuberance, but rather cautious uncertainty. Will the retail rush into long-dated puts foretell broader market sentiment shifts, or simply reflect the latest hedging strategy? Traders and investors alike may want to track both positioning and volatility trends—especially as open interest updates in the coming days.
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