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Just saw the following post courtesy of Trade Alert ( which is an option flow aggregation service I use on a daily basis. I have no horse in the TSLA race (plenty of other ways for me to make and lose money and sleep better at night), but it might prove interesting to some readers. As follows:

TSLA – Telsa options settle down after 5M contract week. With shares little changed near $746 today, Tesla options are back in second place among single stocks, with total volume on track for 700K contracts, bringing total week volume to 5.5M contracts, easily beating the usual leader, Apple, by 1.7M contracts. Approximately $22B in premium changed hands in Telsa options this week, which is 6x normal and nearly 9 times the premium traded in the market leader SPY. Most active contract this week was the Feb 7th 800 call, with 167K contracts trading, including a buyer of 948 on Monday for $3.45 when shares were $719, who might have sold the next day when they traded up to $175, briefly, with shares $249 higher. The more likely winners this week were the market-makers in the product, as the explosion in volume came with a dramatic widening of bid-ask to reflect the spot liquidity and unstable volatility. Using trade prices versus FTOptions theo values, data shows the average option bid-ask widened from January average levels near 26c to nearly $1 this week, working out to roughly $200M in potential gross ‘edge’ for the market makers to lock in. (Henry Schwartz (Trade Alert LLC)) [TSLA 742.45 -6.51 Ref, IV=89.4% -9.6]