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Mixed options sentiment in Tesla with shares up 1.58%

Mixed options sentiment in Tesla (TSLA), with shares up $6.10, or 1.58%, near $392.52. Options volume relatively light with 389k contracts traded and calls leading puts for a put/call ratio of 0.62, compared to a typical level near 0.82. Implied volatility (IV30) dropped 0.43 near 46.5,and below the 52wk median, suggesting an expected daily move of $11.50. Put-call skew steepened, indicating increased demand for downside protection.The company will report earnings after the close today. Option markets are pricing in a 50% probability of a move greater than 7.0% or $27.48.

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