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Large Volume TSLY Call Spread: Buyers Up 3.1% in Early Gains
On June 23, 2025, TSLY saw a major call spread trade: 1,198 contracts crossed at a VWAP of $0.80 for the November 21, 2025 expiration. By midday, that same spread was priced at $0.83—netting the buyers a 3.1% gain or $0.02 per contract. This immediate uptick followed a $0.06 climb in TSLY's underlying price from $8.75 to $8.80.
Call Spread Trade Snapshot: 1,198 Contracts Traded at $0.80 VWAP
| Details | Values |
|---|---|
| Option Expiration | November 21, 2025 |
| Strike Prices | 7 – 8 Call Spread |
| Number of Contracts | 1,198 |
| VWAP Trade Price | 0.80 |
| VWAP Bid Price | 0.60 |
| VWAP Ask Price | 0.91 |
| Reference Stock Price | 8.75 |
| Days to Expiration | 151 |
Analyze this trade using Market Chameleon’s Multi-Leg Trade Analyzer
Trade Insight: $48K Risked for $12K Potential Gain If TSLY Holds Above $8
Why would traders target this setup? Buyers paid more than $48,000 to control the position, aiming for a possible profit of roughly $12,000 if TSLY closes above $8 at expiration. The breakeven hinges on the $8 strike—if TSLY stays above, buyers collect max gain; if not, losses stack up. With 151 days until expiration, the play looks for stability or upside, but with defined risk and reward.
Technical Indicators Flash Bullish—TSLY Keeps Beating SPY
Technicals back the momentum narrative. TSLY’s price of $8.80 is up 5.77% on the day, notching a 1.4% gap-up from open and tacking on 4.3% since the bell. Price action stands 27.5% above its 52-week low (but still 51.7% under the 52-week high), showing a major rebound after last year’s steep slide. Short- and mid-term moving averages—$8.71 for 20-day, $8.55 for 50-day—are below the current price, confirming upward momentum. TSLY’s 20-day MA recently crossed above the 50-day, forming a classic bullish crossover. Trend signals remain strong on the charts.
| Performance | TSLY Return | SPY Return | TSLY Low | TSLY High |
|---|---|---|---|---|
| Today | +6.1% | 0.0% | 8.43 | 8.95 |
| 2 Weeks | +14.8% | -0.5% | 7.69 | 8.95 |
| 1 Month | +0.9% | +0.6% | 7.41 | 9.67 |
| 3 Months | +37.3% | +6.0% | 6.90 | 9.93 |
| 6 Months | -14.1% | +1.1% | 6.90 | 17.37 |
| 1 Year | +25.7% | +10.6% | 6.90 | 18.22 |
| YTD | -13.0% | +2.0% | 6.90 | 14.84 |
Relative to the S&P 500 (SPY), TSLY has handily outperformed across most time frames, posting a stellar +25.7% over one year and +37.3% in just the last three months, compared to SPY’s +10.6% and +6.0%, respectively.
Technical Takeaway: Recent Price Gains and Moving Average Cross Support Bulls
Rising short-term averages and strong multi-timeframe outperformance suggest continued bullish sentiment—at least in the near term. TSLY has overcome its recent resistance and looks positioned for more potential upside, given recent momentum and price trend strength.
Option Skew Indicator: 42% Rank Suggests Slightly Bearish Market Posture
While technicals paint an upbeat picture, the 30-day implied volatility skew comes in at a 42% rank, a sign that options markets remain somewhat cautious. This proprietary measure suggests that, while not overly bearish, the forward-looking sentiment from options pricing is less enthusiastic than spot price momentum implies.
This moderate skew implies that traders see some risk of pullback or rangebound behavior ahead—potentially a reason why buyers opted for a defined-risk call spread instead of outright calls.
Actionable Takeaway: What to Watch
The sizeable TSLY call spread shows traders are willing to bet big on steady or moderately higher prices—without taking on unlimited upside risk. While recent price action and technical indicators flash bullish, options pricing reveals a degree of caution among sophisticated market participants. The $8 strike looms as a key line in the sand.
If you’re interested in tracking more call spreads or unusual multi-leg trades, check out the Market Chameleon Multi-Leg Trades Screener for real-time updates and opportunities.
With TSLY outperforming SPY but facing slightly bearish option signals, it’s worth keeping an eye on how both price and sentiment evolve as the November expiration approaches. Will the bullish crossover win out, or does options market skepticism have merit?
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NOTE: Stock and option trading involves risk that may not be suitable for all investors. Examples contained within this report are simulated and may have limitations. Average returns and occurrences are calculated from snapshots of market mid-point prices and were not actually executed, so they do not reflect actual trades, fees, or execution costs. This report is for informational purposes only, and is not intended to be a recommendation to buy or sell any security. Neither Market Chameleon nor any other party makes warranties regarding results from its usage. Past performance does not guarantee future results. Please consult a financial advisor before executing any trades. You can read more about option risks and characteristics at theocc.com.
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