Jay Soloff highlights interesting options activity as Tesla continues to be on a tear.
Another week, another record high for Tesla (TSLA), which continues to be on a tear. Electric vehicle companies have been the most popular picks for investors lately, led by TSLA. The electric vehicle powerhouse has gone from $1,000 per share to more than $1,500 in just a few weeks.
The euphoria surrounding the industry is partly responsible. TSLA's potential addition to the S&P 500 index is another catalyst. Options action in TSLA has also been brisk in recent days, with a fair amount of far-out-of-the-money calls being sold.
Jay Soloff is the Options Portfolio Manager at Investors Alley. He is the editor for Options, an investment advisory bringing you professional options trading strategies, with all the bells and whistles of Wall Street, but simplified so all you have to do is enter the trades with your broker.
