TSLA 400 Call Surges to 201,790 in Volume—Retail Traders Drive Heavy Action
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15.1% of All TSLA Options Activity Centers on Apr-17-26 400 Call
In a striking move during early trading today, Tesla’s (TSLA) Apr-17-26 400 Call contract became the most heavily traded TSLA option. By 10:59 AM, this 0 DTE (zero days to expiration) call saw volume rocket to 201,790 contracts—representing a significant 15.1% share of total TSLA options traded this morning.
Real-Time Market Snapshot: Price Action Stays Just Above Strike
At the time of this report, Tesla shares were trading at $401.24, a jump of $12.34 for a gain of 3.17%. The 400 strike call option therefore sits slightly in-the-money by $1.24, giving these contracts additional attention among traders watching for any late-session volatility. TSLA’s price has oscillated between $391.65 and $402.50 since the open, heightening the stakes for expiring options.
Volatility and Pricing: Contract Ranges from $0.89 to $4.10
Option pricing for the Apr-17-26 400 Call has been especially volatile. The contract opened at $1.98, briefly traded as low as $0.89, and hit an intraday peak of $4.10. As of the latest trade, the price stood at $3.50—well above both the session’s VWAP of $1.91 and the previous day’s close of $0.87. This price surge mirrors the strong moves in the underlying stock and could signal high expectations for continued volatility into expiry.
| Option Contract | Volume | % of TSLA Option Volume | VWAP ($) | Open Price ($) | High ($) | Low ($) | Last Price ($) |
|---|---|---|---|---|---|---|---|
| Apr-17-26 400 Call | 201,790 | 15.1% | 1.91 | 1.98 | 4.10 | 0.89 | 3.50 |
Retail Traders Lead the Frenzy, but Order Flow Slightly Favors Sellers
Digging into the order flow, retail-sized trades dominated (62% of activity), while the remainder came from larger, professional-sized blocks (38%). Interestingly, despite the bullish price action, 58.1% of contracts were sold versus 41.9% bought—suggesting more traders were closing or hedging positions rather than initiating outright bullish bets at these elevated levels.
Open Interest Rises, but Full Impact Will Show Tomorrow
Open interest for this contract stood at 45,616 as of this morning, having risen by 14,572 contracts since the previous session’s settlement. However, even with today’s massive volume, it’s important to note that any increase or decrease from this frantic activity won’t be visible until tomorrow’s update. For now, traders won’t know whether this was mostly opening new bets, closing old ones, or a mix of both.
Key Takeaways: Volatility Remains High as Expiration Approaches
Tesla’s rapid surge past the 400 strike and the outsized 0 DTE call activity point to heightened speculation around the close. While strong retail interest hints at a bullish tilt, the fact that a majority of contracts were sold could mean many are taking profits or hedging ahead of potential reversals. With settlement looming and the contract finishing just above the strike, eyes will be on tomorrow’s open interest update to assess who won this high-stakes intraday game.
Bottom Line: For those tracking TSLA’s options for directional or volatility signals, today’s sky-high call volume and rapid price swings offer valuable clues. The real story behind the trade—whether it was driven by fresh optimism or careful profit-taking—will only come to light in the next business day’s open interest numbers.
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