“Investors have been scooping up call options tied to the shares’ continued advance. The ratio of put options bought relative to call options on Tesla hit a record low on Aug. 21, according to Garrett DeSimone, head of quantitative research at data provider OptionMetrics. Mr. DeSimone analyzed Tesla options that are out-of-the-money, or far from the current stock levels.

Some of the most actively traded options contracts in recent days have been bullish calls tied to the shares jumping even higher, to $2400 or $2500, Trade Alert data show.”