Tesla Options Activity Surges as Stock Holds Above $250, Closes Below $235; $7M in February Calls Traded

Tesla Inc. ($TSLA) has shown resilience, trading above $250, with significant options activity noted. On July 18, a buyer purchased 1,000 October $345 calls priced between $7.20 and $7.40. Traders are closely monitoring key price levels, indicating that a breakout is needed above $259 to maintain upward momentum, while the $242 and $240 levels are critical for potential downward movement. Recent trading saw a notable increase in the price of the $242 call option, which rose from $1.25 to $2.25 within a short timeframe. As of July 19, the stock closed below $235, with traders anticipating further declines towards $230 and possibly $220. Additionally, there was significant buying interest in February $260 calls, with 2,000 contracts traded at prices ranging from $35.75 to $36.40, totaling over $7 million.