$Tesla Motors(TSLA)$ For the nearest TSLA expiry, 2026-10-30 :
The heaviest call open interest was at $420 , with 23,840 contracts .
The heaviest put open interest was at $150 , with 32,529 contracts .
So the largest single strike across both sides was the $150 put . It is far below the $399.81 underlying price and is more indicative of downside-tail hedging or legacy positioning than a near-term price reference.
The more relevant near-spot call concentration was $420 , which can act as an options-positioning resistance area, though it is not a guaranteed ceiling.
The $387.50 max-pain level means that, based on the displayed open-interest distribution, expiry at $387.50 would produce the lowest aggregate intrinsic-value payout to option holders. It was $12.31 , or 3.08% , below the $399.81 spot price at the snapshot.
What it implies:
It can create a weak expiry-week “pinning” tendency toward $387.50 if TSLA trades calmly and dealer hedging flows dominate.
It is not a forecast and does not mean TSLA must fall to $387.50. With TSLA’s large same-day option volume and an active price catalyst, directional stock flows can readily overwhelm max-pain effects.
Around $387.50, the payout balance shifts: at that strike the model showed about $83.37m call payout and $45.25m put payout, for the minimum combined payout of about $128.62m .
Tesla (TSLA)
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Information is for reference only and does not constitute investment advice.| Side | Price | Filled | Realized P&L |
|---|
| Buy Open | 399.04 0 | +0.30% Holding |
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