Options Market Predicts Tesla's Momentum Future

Tesla's recent rally may face resistance at the $220 Call strike level, according to options data, which could limit the stock's rise to another 3% this week. However, there is also support building up at the $195 Put strike level. Open interest numbers only provide a fair idea about support and resistance levels, and any major newsbreak or macro event could lead to significant movement in stock prices and a subsequent shift in open interest levels.