Mixed options sentiment in Tesla with shares up 2.62%

Mixed options sentiment in Tesla (TSLA), with shares up $11.50, or 2.62%, near $451.08. Options volume relatively light with 1.19m contracts traded and calls leading puts for a put/call ratio of 0.67, compared to a typical level near 0.7. Implied volatility (IV30) dropped 0.24 near 45.9,in the lowest 10% of observations over the past year, suggesting an expected daily move of $13.04. Put-call skew steepened, indicating increased demand for downside protection, following a downgrade to Equal Weight at Morgan Stanley.