Tesla Stock Defies Options Market's Resistance Expectations: What's Next?
Portfolio Pulse from Bhavik Nair
Tesla Inc's (NASDAQ:TSLA) stock surpassed the $250 resistance level, potentially disappointing Call sellers. The bond market's growing pessimism and upcoming key events may pose a hurdle to the stock's rally. Options traders are considering crucial trading levels for Tesla stock this week.

June 20, 2023 | 10:00 am
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NEUTRAL IMPACT
Tesla's stock surpassed the $250 resistance level, but the bond market's pessimism and upcoming key events may pose a hurdle to the stock's rally.
Tesla's stock has surpassed the $250 resistance level, which could disappoint Call sellers. However, the bond market's growing pessimism and upcoming key events, such as Federal Reserve Chair Jerome Powell's testimony before Congress and the Bank of England's monetary policy decision, may pose a hurdle to the stock's rally. Options traders are considering crucial trading levels for Tesla stock this week, with higher open interest at the $260 Call strike, suggesting it could act as a resistance if the stock experiences a correction. On the downside, there is relatively higher open interest at the $250 Put strike, indicating that traders may not anticipate the stock to drop below this level in the event of a correction. These factors contribute to a neutral short-term impact on Tesla's stock price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100