TSLA Bull Call Spread — 2026-08-21

TSLA (Tesla, Inc. - Common Stock) shows bullish unusual options activity: $0K of buyer-initiated unusual call flow (0% call-dominant) detected across near-term expirations, with a peak vol/OI ratio of 1.7x on the 300 call. IV rank is 41 (moderate) — a bull call spread (302.5/305) trims theta/vega bleed versus a naked long. Buy the $302.5 / sell the $305 call bull call spread expiring 2026-08-21 (23 DTE) for a net debit of $1.25 ($125 per spread). Breakeven at $303.75; net delta 0.03.

Underlying: TSLA @ ~$302.41 | 2026-08-21 (23 DTE) | Net debit (entry): ~$125 per spread. Use limit orders at the mid or slightly worse.

MAX LOSS: Limited to the net debit ($125 per spread). Max gain is capped at the strike width minus the debit — a defined-risk, defined-reward trade. | IV RISK: IV rank is 41 — reasonable for a debit spread. | TIMING: 23 DTE — unusual flow is a near-term signal; act promptly or the setup may stale. Close or take profit before expiration week to avoid gamma risk. | SECTOR: TSLA is in Consumer — avoid concentration with other open Consumer positions. | EXECUTION: Use limit orders at mid or slightly worse on the spread (don't leg in). Verify the bid-ask before sending; do not chase with market orders. | EVENTS: Check for upcoming earnings, FDA decisions, or macro prints within the trade window that could cause outsized gap risk.