NEW YORK - Traders in the options market expect Tesla shares to swing by nearly 10% in either direction by Friday, options data showed.
With Tesla market cap at around $800 billion, such a move would make for a swing in the value of the company of about $80 billion. Tesla options volume on Tuesday was relatively light with some 770,000 contracts changing hands by 12:20 p.m. EDT , about half the pace of trading over the last month, according to Trade Alert data.
Tesla shares have fallen after the company reported results in five of the last six quarters, according to Trade Alert data.Separately, Alphabet, is also expected to report quarterly results later on Tuesday, with options traders braced for a stock price swing of 6.3% in either direction, according to Trade Alert data. The stock has moved about 6.7% on average on the day following quarterly results.
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