Tesla shares poised for biggest earnings move in a year
Tesla Inc. charging stations behind the Conoco Tower Station and U-Drop Inn Cafe along historic Route 66 in Shamrock, Texas, on June 7, 2026.
Take Drago | Getty Images
Options traders place bets Tesla’s It could see its biggest post-earnings move in a year when the electric car giant reports after the bell on Wednesday.
Current prices of out-of-the-money puts and calls imply a move of 5.76%; This is the biggest implied move since traders priced in a 6% swing in October 2025. This would be the biggest move since last July. Option flow was trending upward on Tuesday; Calls accounted for more than two-thirds of the total premium traded, with traders buying 244,000 puts compared to 116,000 puts at midday.
The three most active contracts by volume on Tesla were calls; The highest premium was spent by investors in 380 calls that ended on Friday. Traders spent more than $15 million on these near-profitable calls; which was about $11 per contract; This means they will need a 3% increase by the end of the week to make a profit.
Tesla’s shares have historically experienced muted moves on earnings days as options investors await a big move. In fact, the stock has averaged just a 3.5% move over the last four quarters, according to CBOE data.
Also on the radar of Musk-centric investors will be SpaceX’s first earnings report since its initial public offering last month. This potential wildcard for the market will emerge on August 4th. The options market is currently implying a 12% move in either direction.
“If you want to be aggressive you can argue [Tesla is] “I’m sticking with the support and holding the long side, which I’m more long-term, but it’s been more or less limited since the beginning of the year,” TheoTrade trainer Gianni Di Poce said over the phone. “The whole SpaceX thing is putting pressure on that, people are trying to figure out which one to own and whether they’re going to merge.”
Following its historic June IPO, SpaceX shares soared toward a $2 trillion valuation. But the stock has fallen sharply since then, and the company’s valuation now sits at just under $1.7 trillion, just ahead of Tesla’s $1.4 trillion.
CNBC’s Oliver Renick contributed reporting.
