Tesla could hit $400 by September
Benzinga – The shares of Tesla (NASDAQ:), Inc. (:TSLA) fell sharply on Thursday after the company reported its second quarter results.
Second Mike Khouw By Optimize Advisors, who spoke on CNBC’s “Options Action,” Tesla is usually the most-moved stock, but it nearly doubled in volume on Thursday to account for 15 percent of all single-stock options volume.
According to Khouw, 85,000 September 400-call contracts were purchased at an average price of about $1.24 per contract.
Traders expect Tesla shares to clear above the $400 level by the September deadline.
Tesla reported second quarter revenue of $24.93 billion, an increase of 47% from a year earlier. Total revenue beat consensus estimates by $24.48 billion. Tesla reported earnings of 91 cents per share for the quarter, beating estimates of 82 cents per share.
Price movement
Shares of Tesla fell 9.7% to close at $262.90 on Thursday and rose 0.04% in early trading on Friday.
Read the article also in Benzinga Italia