- Tesla options are traded more than any other stock, according to CBOE data cited by the Wall Street Journal.
- Nearly 3 million contracts for Tesla options are traded daily, up from 1.5 million a year ago, accounting for roughly 7% of all options trading.
Wall Street loves options trades on $4, and the most popular bet would see shares surge nearly 400% within the next year.
Tesla options are traded more than any other company's stock, according to CBOE data cited by the $4. On average, nearly 3 million contracts for Tesla options are traded daily, up from 1.5 million a year ago, accounting for roughly 7% of all options trading.
And on January 6, options trades on Tesla touched over 5.2 million, making up 10% total volume on the busiest day for options contracts.
The most popular options bet for Tesla would see the stock double from its all-time high of $409.97, which represents roughly a 394% increase from the current trading price.
Those options traders are even more bullish than CEO Elon Musk, who told analysts on an earnings call Wednesday that "$4."
For Tesla to reach that milestone, it would have to surpass Apple's current market valuation of $2.3 trillion, which would equate to Tesla stock surging 323% to $698.
Investors are continuing to show signs of optimism toward Tesla, despite a brutal 2022 that saw the stock plummet 64% amid concerns about Musk's preoccupation running Twitter, Federal Reserve rate hikes and a slowing economy.
Investors have parted with over $700 billion on options trades connected to Tesla from January 2022, surpassing any other stock on Wall Street or exchange-traded fund.
And Tesla stock has rallied more than 30% so far this month, with a $4.