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0DTE 355 Call Sees Explosive Volume: 97,479 Contracts Traded by 10:30 AM
The busiest TSLA option as of 10:30 AM is the zero-day-to-expiry (0DTE) Sep-05-25 355 Call, racking up an eye-popping 97,479 contracts—9.5% of all Tesla option activity so far. The stock itself is up 3.62%, or $12.26, trading at $350.79 within a daily range of $347.57 to $355.87.
This call option—set to expire by day’s end—opened at $0.60 and soared to a session high of $3.50 before settling at $1.19 on the latest print. What stands out: its previous day’s close was just $0.16, representing a dramatic spike in volatility and opportunity for traders eyeing a rapid payoff.
Price Swings Are Extreme: High of $3.50, Low of $0.50 on the 355 Strike
Despite TSLA’s gains, the 355 strike sits $4.21 out-of-the-money as of this writing. Yet the contract’s pricing action tells its own story:
| Trade Stat | Value |
|---|---|
| Option Volume | 97,479 |
| VWAP | $2.25 |
| Open Price | $0.60 |
| Session Low / High | $0.50 / $3.50 |
| Last Price | $1.19 |
| Previous Close | $0.16 |
Order Flow Skews Heavily Toward Selling: 69% of Trades Are Sales
The volume surge isn’t just a bullish signal—order flow analysis suggests 69% of trades hit the sell side, versus 31% bought. Notably, 66% of this flow is attributed to small retail trades, while only 34% comes from larger, institutional-style orders.
With the current open interest reported at 21,623 contracts (down by 235 contracts from yesterday), it’s not clear whether today’s avalanche of trades is primarily opening or closing new positions—something that will only become apparent after overnight settlement.
TSLA’s Price Still Below 355: Will Last-Minute Bulls or Sellers Win Out?
With just hours until expiration and TSLA shares hovering below the strike, buyers are betting on a last-minute pop to push the option into the money. Meanwhile, the flood of sellers—both retail and professional—suggests a willingness to take profits (or write calls) as the clock ticks down.
While much of this trading could reflect intraday speculation or aggressive hedging, the extreme volatility and enormous volume highlight a broader hunger for leveraged bets on Tesla’s short-term direction. Such heavy trading in a single strike often sets up outsized price moves into the close—either through a late-day rally or sharp reversals if bullish momentum fades.
Key Takeaway: Watch the 355 Level and After-Hours Open Interest Shift
The furious trading in TSLA’s 0DTE 355 Call is a case study in fast-money, high-risk options strategy. Whether bulls or sellers emerge victorious depends on how TSLA closes the session relative to the $355 mark. Come tomorrow, a jump (or drop) in open interest will reveal if traders were largely entering or exiting positions.
For investors, this burst of 0DTE activity offers a live-fire lesson in crowd behavior, risk appetite, and how a single contract can dominate options order flow—even if its profit window may be measured in minutes, not days.
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