{"id":197846,"date":"2023-10-18T12:00:00","date_gmt":"2023-10-18T16:00:00","guid":{"rendered":"https:\/\/ibkrcampus.com\/?p=197846"},"modified":"2023-10-18T13:45:33","modified_gmt":"2023-10-18T17:45:33","slug":"options-market-is-expectations-for-tesla-earnings","status":"publish","type":"post","link":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/options\/options-market-is-expectations-for-tesla-earnings\/","title":{"rendered":"Options Market Expectations for Tesla Earnings"},"content":{"rendered":"\n<p>Earnings season is back (babe), thanks mainly to the run of <a href=\"\/campus\/traders-insight\/securities\/stocks\/size-matters-banking-edition\/\">banks and brokers that began on Friday<\/a>.&nbsp; As this week progresses, we learn the results from a wider range of companies and industries, including about 10% of the companies in the S&amp;P 500 Index (SPX).&nbsp; This afternoon, specifically, we hear from a member of the \u201cMagnificent Seven\u201d and the original \u201cN\u201d in \u201cFAANG\u201d.&nbsp; We\u2019re referring, of course to Tesla (TSLA) and Netflix (NFLX). &nbsp;Unfortunately, time and space constraints allow us only to focus on TSLA today.<\/p>\n\n\n\n<p>Although TSLA has been a stellar performer on a year-to-date basis, having roughly doubled while SPX is up about 13% in that timeframe, its performance since its last earnings report has been disappointing.&nbsp; It\u2019s down about -15% since then, worse than the -5% drop in SPX during that span.&nbsp; Here is a chart of TSLA from July 18<sup>th<\/sup> \u2013 the day prior to the release of second quarter earnings \u2013 through today:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-tsla-66-days-3-hour-candles\"><strong><em>TSLA, 66 Days \/ 3 Hour Candles<\/em><\/strong><\/h3>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1100\" height=\"632\" data-src=\"\/campus\/wp-content\/uploads\/sites\/2\/2023\/10\/Picture4-3-1100x632.png\" alt=\"TSLA, 66 Days \/ 3 Hour Candles\" class=\"wp-image-197850 lazyload\" data-srcset=\"https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/10\/Picture4-3-1100x632.png 1100w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/10\/Picture4-3-700x402.png 700w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/10\/Picture4-3-300x172.png 300w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/10\/Picture4-3-768x442.png 768w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/10\/Picture4-3-1536x883.png 1536w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/10\/Picture4-3-2048x1178.png 2048w\" data-sizes=\"(max-width: 1100px) 100vw, 1100px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1100px; aspect-ratio: 1100\/632;\" \/><\/figure>\n\n\n\n<p><em>Source: Interactive Brokers<\/em><\/p>\n\n\n\n<p>After a series of price cuts and increasing competition, especially in China, the stakes are high for both TSLA and the broader markets today.&nbsp; It is the 7<sup>th<\/sup> largest company in SPX and the NASDAQ 100 (NDX), with about a 2% and 3% weighting in each, respectively, but it is a clear #1 in traders\u2019 mindshare.&nbsp; It is routinely the most actively traded stock on the IBKR platform by a wide margin.&nbsp; Thus, no matter what your opinions about TSLA and its leader, whether devotee or despiser, traders need to care about the market\u2019s reaction to the company\u2019s results.<\/p>\n\n\n\n<p>A key question will be whether investors still expect too much from the company.&nbsp; According to a Bloomberg report, third-quarter earnings expectations have been halved over the course of this year even as the stock has doubled.&nbsp; That should strike many as a serious mismatch.&nbsp; The company sports a trailing P\/E of 70, and interestingly shows a 12-month forward P\/E of 74.&nbsp; That implies both that investors are willing to pay a substantial premium for TSLA\u2019s future growth even as its earnings over the coming four quarters are expected to decline.<\/p>\n\n\n\n<p>To set the stage, here are some of the metrics that the market will focus on this afternoon.&nbsp; According to a Barron\u2019s report, the analyst consensus for EPS is $0.72 on sales of $23.9 billion.&nbsp; But as we learned last quarter, investors focused more on declining gross margins and Elon Musk\u2019s commentary.&nbsp; We of course can\u2019t predict the CEO\u2019s demeanor, but the street is hoping for gross margins between 17% and 18%.&nbsp; We flagged that last quarter as a key concern, <a href=\"\/campus\/traders-insight\/securities\/options\/what-the-options-market-is-expecting-for-tesla-earnings-2\/\">writing ahead of earnings<\/a>:<\/p>\n\n\n\n<p><em>Gross profit margins are considered to be a key metric.&nbsp; They are projected to be about 18%, down from last quarter\u2019s 19% and last year\u2019s 30%.&nbsp; As with any company, but even more crucially for TSLA, much of the market\u2019s reaction will depend upon the company\u2019s guidance, particularly about whether margins might rise sufficiently to allow profit upgrades.<\/em><\/p>\n\n\n\n<p>Then, the next day <a href=\"\/campus\/traders-insight\/securities\/stocks\/earnings-inertia-at-least-for-today\/\">we noted<\/a>:<\/p>\n\n\n\n<p><em>The actual 18.2% margin didn\u2019t seem too terrible, but it became more concerning when Elon Musk seemed peeved with repeated questions about margin expansion during his conference call.&nbsp; He did his best to try to get investors focused on the future with talk about technology licensing and the cybertruck, but quite frankly one could easily assert that TSLA\u2019s 85 P\/E is pricing in a considerable amount of good news already.<\/em><\/p>\n\n\n\n<p>It is important to note that the stock fell nearly -10% after each of the last two earnings reports in April and July, though it rose by more than 10% in January.&nbsp;&nbsp; It would not be at all surprising if substantial volatility would be once again priced into the market.<\/p>\n\n\n\n<p>Yet it\u2019s not.&nbsp; At-money TSLA options expiring on Friday sport an implied volatility of about 100%, which translates into implied daily moves of about 5%.&nbsp; That seems quite sanguine in light of a sequence of three ~10% moves:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-tsla-volatility-term-structure\"><strong><em>TSLA Volatility Term Structure<\/em><\/strong><\/h3>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1100\" height=\"750\" data-src=\"\/campus\/wp-content\/uploads\/sites\/2\/2023\/10\/Picture3-5-1100x750.png\" alt=\"TSLA Volatility Term Structure\" class=\"wp-image-197849 lazyload\" data-srcset=\"https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/10\/Picture3-5-1100x750.png 1100w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/10\/Picture3-5-700x477.png 700w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/10\/Picture3-5-300x205.png 300w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/10\/Picture3-5-768x524.png 768w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/10\/Picture3-5.png 1516w\" data-sizes=\"(max-width: 1100px) 100vw, 1100px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1100px; aspect-ratio: 1100\/750;\" \/><\/figure>\n\n\n\n<p><em>Source: Interactive Brokers<\/em><\/p>\n\n\n\n<p>The IBKR Probability Lab shows no particular bias in either direction.&nbsp; The peak probabilities for this week\u2019s options are right around the money, which is typical, but there is no bias up or down in the expected outcomes:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-ibkr-probability-lab-for-tsla-options-expiring-october-20-th-2023\"><strong><em>IBKR Probability Lab for TSLA Options Expiring October 20<sup>th<\/sup>, 2023<\/em><\/strong><\/h3>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1100\" height=\"464\" data-src=\"\/campus\/wp-content\/uploads\/sites\/2\/2023\/10\/Picture2-6-1100x464.png\" alt=\"IBKR Probability Lab for TSLA Options Expiring October 20th, 2023\" class=\"wp-image-197848 lazyload\" data-srcset=\"https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/10\/Picture2-6-1100x464.png 1100w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/10\/Picture2-6-700x295.png 700w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/10\/Picture2-6-300x126.png 300w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/10\/Picture2-6-768x324.png 768w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/10\/Picture2-6.png 1480w\" data-sizes=\"(max-width: 1100px) 100vw, 1100px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1100px; aspect-ratio: 1100\/464;\" \/><\/figure>\n\n\n\n<p><em>Source: Interactive Brokers<\/em><\/p>\n\n\n\n<p>Not surprisingly, in light of what we have just seen, skews for near-term options in TSLA are relatively symmetrical:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-tsla-multi-expiry-skew-for-options-expiring-october-20-th-yellow-october-27-th-blue-and-november-17th\"><strong><em>TSLA Multi-Expiry Skew for Options Expiring October 20<sup>th<\/sup> (yellow), October 27<sup>th<\/sup> (blue) and November 17th<\/em><\/strong><\/h3>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"996\" height=\"606\" data-src=\"\/campus\/wp-content\/uploads\/sites\/2\/2023\/10\/Picture1-18.png\" alt=\"TSLA Multi-Expiry Skew for Options Expiring October 20th (yellow), October 27th (blue) and November 17th\" class=\"wp-image-197847 lazyload\" data-srcset=\"https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/10\/Picture1-18.png 996w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/10\/Picture1-18-700x426.png 700w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/10\/Picture1-18-300x183.png 300w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/10\/Picture1-18-768x467.png 768w\" data-sizes=\"(max-width: 996px) 100vw, 996px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 996px; aspect-ratio: 996\/606;\" \/><\/figure>\n\n\n\n<p><em>Source: Interactive Brokers<\/em><\/p>\n\n\n\n<p>Traders should consider if there is an opportunity present in the relatively low implied volatilities, either by purchasing relatively inexpensive protection or speculation, or using strategies like straddles, strangles, butterflies, or condors if they believe that near-term options offer a value.&nbsp; Whether or not the options market is appropriately pricing post-earnings volatility in TSLA, it seems quite fair to remember that no matter what, it is rarely boring.<a id=\"_ednref1\" href=\"#_edn1\">[I]<\/a>&nbsp;<\/p>\n\n\n\n<p>&#8212;<\/p>\n\n\n\n<p><a href=\"#_ednref1\" id=\"_edn1\">[i]<\/a> The Boring Company is a separate Musk-controlled entity<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Earnings season is back, thanks mainly to the run of banks and brokers that began on Friday. This afternoon, specifically, we hear from a member of the &#8220;Magnificent Seven&#8221; and the original &#8220;N&#8221; in &#8220;FAANG&#8221;.  We\u2019re referring, of course to Tesla (TSLA) and Netflix (NFLX). <\/p>\n","protected":false},"author":4,"featured_media":184228,"comment_status":"open","ping_status":"closed","sticky":true,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[14700,6,19,8,9,26,3],"tags":[267,1926,161],"contributors-categories":[13576],"class_list":{"0":"post-197846","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-ibkr-market-insights","8":"category-north-america","9":"category-options","10":"category-region","11":"category-securities","12":"category-text-articles","13":"category-traders-insight","14":"tag-earnings","15":"tag-options","16":"tag-tesla","17":"contributors-categories-interactive-brokers"},"pp_statuses_selecting_workflow":false,"pp_workflow_action":"current","pp_status_selection":"publish","acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.9 (Yoast SEO v27.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Options Market Expectations for Tesla Earnings<\/title>\n<meta name=\"description\" content=\"Earnings season is back, thanks mainly to the run of banks and brokers that began on Friday. This afternoon, specifically, we hear from a member of the...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.interactivebrokers.com\/campus\/wp-json\/wp\/v2\/posts\/197846\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Options Market Expectations for Tesla Earnings | IBKR Campus US\" \/>\n<meta property=\"og:description\" content=\"Earnings season is back, thanks mainly to the run of banks and brokers that began on Friday. This afternoon, specifically, we hear from a member of the \u201cMagnificent Seven\u201d and the original \u201cN\u201d in \u201cFAANG\u201d. We\u2019re referring, of course to Tesla (TSLA) and Netflix (NFLX).\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/options-market-is-expectations-for-tesla-earnings\/\" \/>\n<meta property=\"og:site_name\" content=\"IBKR Campus US\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-18T16:00:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-10-18T17:45:33+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/02\/earnings_season_Featured-img.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"563\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Steve Sosnick\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Steve Sosnick\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\n\t    \"@context\": \"https:\\\/\\\/schema.org\",\n\t    \"@graph\": [\n\t        {\n\t            \"@type\": \"NewsArticle\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/options-market-is-expectations-for-tesla-earnings\\\/#article\",\n\t            \"isPartOf\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/options-market-is-expectations-for-tesla-earnings\\\/\"\n\t            },\n\t            \"author\": {\n\t                \"name\": \"Steve Sosnick\",\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#\\\/schema\\\/person\\\/31988d9596575a63ddc53e92049a2549\"\n\t            },\n\t            \"headline\": \"Options Market Expectations for Tesla Earnings\",\n\t            \"datePublished\": \"2023-10-18T16:00:00+00:00\",\n\t            \"dateModified\": \"2023-10-18T17:45:33+00:00\",\n\t            \"mainEntityOfPage\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/options-market-is-expectations-for-tesla-earnings\\\/\"\n\t            },\n\t            \"wordCount\": 867,\n\t            \"commentCount\": 0,\n\t            \"publisher\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#organization\"\n\t            },\n\t            \"image\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/options-market-is-expectations-for-tesla-earnings\\\/#primaryimage\"\n\t            },\n\t            \"thumbnailUrl\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2023\\\/02\\\/earnings_season_Featured-img.jpg\",\n\t            \"keywords\": [\n\t                \"earnings\",\n\t                \"options\",\n\t                \"Tesla\"\n\t            ],\n\t            \"articleSection\": [\n\t                \"IBKR Insights\",\n\t                \"North America\",\n\t                \"Options\",\n\t                \"Region\",\n\t                \"Securities\",\n\t                \"Text Articles\",\n\t                \"Traders' Insight\"\n\t            ],\n\t            \"inLanguage\": \"en-US\",\n\t            \"potentialAction\": [\n\t                {\n\t                    \"@type\": \"CommentAction\",\n\t                    \"name\": \"Comment\",\n\t                    \"target\": [\n\t                        \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/options-market-is-expectations-for-tesla-earnings\\\/#respond\"\n\t                    ]\n\t                }\n\t            ]\n\t        },\n\t        {\n\t            \"@type\": \"WebPage\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/options-market-is-expectations-for-tesla-earnings\\\/\",\n\t            \"url\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/options-market-is-expectations-for-tesla-earnings\\\/\",\n\t            \"name\": \"Options Market Expectations for Tesla Earnings | IBKR Campus US\",\n\t            \"isPartOf\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#website\"\n\t            },\n\t            \"primaryImageOfPage\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/options-market-is-expectations-for-tesla-earnings\\\/#primaryimage\"\n\t            },\n\t            \"image\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/options-market-is-expectations-for-tesla-earnings\\\/#primaryimage\"\n\t            },\n\t            \"thumbnailUrl\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2023\\\/02\\\/earnings_season_Featured-img.jpg\",\n\t            \"datePublished\": \"2023-10-18T16:00:00+00:00\",\n\t            \"dateModified\": \"2023-10-18T17:45:33+00:00\",\n\t            \"description\": \"Earnings season is back, thanks mainly to the run of banks and brokers that began on Friday. This afternoon, specifically, we hear from a member of the \u201cMagnificent Seven\u201d and the original \u201cN\u201d in \u201cFAANG\u201d. We\u2019re referring, of course to Tesla (TSLA) and Netflix (NFLX).\",\n\t            \"inLanguage\": \"en-US\",\n\t            \"potentialAction\": [\n\t                {\n\t                    \"@type\": \"ReadAction\",\n\t                    \"target\": [\n\t                        \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/options-market-is-expectations-for-tesla-earnings\\\/\"\n\t                    ]\n\t                }\n\t            ]\n\t        },\n\t        {\n\t            \"@type\": \"ImageObject\",\n\t            \"inLanguage\": \"en-US\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/options-market-is-expectations-for-tesla-earnings\\\/#primaryimage\",\n\t            \"url\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2023\\\/02\\\/earnings_season_Featured-img.jpg\",\n\t            \"contentUrl\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2023\\\/02\\\/earnings_season_Featured-img.jpg\",\n\t            \"width\": 1000,\n\t            \"height\": 563,\n\t            \"caption\": \"What the Options Market is Expecting for Microsoft Earnings\"\n\t        },\n\t        {\n\t            \"@type\": \"WebSite\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#website\",\n\t            \"url\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/\",\n\t            \"name\": \"IBKR Campus US\",\n\t            \"description\": \"Financial Education from Interactive Brokers\",\n\t            \"publisher\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#organization\"\n\t            },\n\t            \"potentialAction\": [\n\t                {\n\t                    \"@type\": \"SearchAction\",\n\t                    \"target\": {\n\t                        \"@type\": \"EntryPoint\",\n\t                        \"urlTemplate\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/?s={search_term_string}\"\n\t                    },\n\t                    \"query-input\": {\n\t                        \"@type\": \"PropertyValueSpecification\",\n\t                        \"valueRequired\": true,\n\t                        \"valueName\": \"search_term_string\"\n\t                    }\n\t                }\n\t            ],\n\t            \"inLanguage\": \"en-US\"\n\t        },\n\t        {\n\t            \"@type\": \"Organization\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#organization\",\n\t            \"name\": \"Interactive Brokers\",\n\t            \"alternateName\": \"IBKR\",\n\t            \"url\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/\",\n\t            \"logo\": {\n\t                \"@type\": \"ImageObject\",\n\t                \"inLanguage\": \"en-US\",\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#\\\/schema\\\/logo\\\/image\\\/\",\n\t                \"url\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2024\\\/05\\\/ibkr-campus-logo.jpg\",\n\t                \"contentUrl\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2024\\\/05\\\/ibkr-campus-logo.jpg\",\n\t                \"width\": 669,\n\t                \"height\": 669,\n\t                \"caption\": \"Interactive Brokers\"\n\t            },\n\t            \"image\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#\\\/schema\\\/logo\\\/image\\\/\"\n\t            },\n\t            \"publishingPrinciples\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/about-ibkr-campus\\\/\",\n\t            \"ethicsPolicy\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/cyber-security-notice\\\/\"\n\t        },\n\t        {\n\t            \"@type\": \"Person\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#\\\/schema\\\/person\\\/31988d9596575a63ddc53e92049a2549\",\n\t            \"name\": \"Steve Sosnick\",\n\t            \"description\": \"Steve is the Chief Strategist at Interactive Brokers. He has held numerous roles in the organization since joining Timber Hill, IBKR\u2019s predecessor, in 1995 as Equity Risk Manager and an options market maker. He developed and implemented automated trading strategies for stocks and options before moving into his current role. Steve has guest authored several columns in Barron\u2019s and made numerous live on Bloomberg TV and Radio, CNBC, Yahoo Finance, Fox Business, and several other media outlets in North America, Asia, Australia, and the Middle East in addition to being quoted frequently in print and electronic media. Prior to joining Interactive Brokers, Sosnick held senior trading roles at Morgan Stanley, Lehman Brothers, and Salomon Brothers, where he completed the firm\u2019s famed training program.\",\n\t            \"sameAs\": [\n\t                \"https:\\\/\\\/ibkr.com\"\n\t            ],\n\t            \"url\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/author\\\/steve-sosnick\\\/\"\n\t        }\n\t    ]\n\t}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Options Market Expectations for Tesla Earnings","description":"Earnings season is back, thanks mainly to the run of banks and brokers that began on Friday. This afternoon, specifically, we hear from a member of the...","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.interactivebrokers.com\/campus\/wp-json\/wp\/v2\/posts\/197846\/","og_locale":"en_US","og_type":"article","og_title":"Options Market Expectations for Tesla Earnings | IBKR Campus US","og_description":"Earnings season is back, thanks mainly to the run of banks and brokers that began on Friday. This afternoon, specifically, we hear from a member of the \u201cMagnificent Seven\u201d and the original \u201cN\u201d in \u201cFAANG\u201d. We\u2019re referring, of course to Tesla (TSLA) and Netflix (NFLX).","og_url":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/options-market-is-expectations-for-tesla-earnings\/","og_site_name":"IBKR Campus US","article_published_time":"2023-10-18T16:00:00+00:00","article_modified_time":"2023-10-18T17:45:33+00:00","og_image":[{"width":1000,"height":563,"url":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/02\/earnings_season_Featured-img.jpg","type":"image\/jpeg"}],"author":"Steve Sosnick","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Steve Sosnick","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/options-market-is-expectations-for-tesla-earnings\/#article","isPartOf":{"@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/options-market-is-expectations-for-tesla-earnings\/"},"author":{"name":"Steve Sosnick","@id":"https:\/\/ibkrcampus.com\/campus\/#\/schema\/person\/31988d9596575a63ddc53e92049a2549"},"headline":"Options Market Expectations for Tesla Earnings","datePublished":"2023-10-18T16:00:00+00:00","dateModified":"2023-10-18T17:45:33+00:00","mainEntityOfPage":{"@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/options-market-is-expectations-for-tesla-earnings\/"},"wordCount":867,"commentCount":0,"publisher":{"@id":"https:\/\/ibkrcampus.com\/campus\/#organization"},"image":{"@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/options-market-is-expectations-for-tesla-earnings\/#primaryimage"},"thumbnailUrl":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/02\/earnings_season_Featured-img.jpg","keywords":["earnings","options","Tesla"],"articleSection":["IBKR Insights","North America","Options","Region","Securities","Text Articles","Traders' Insight"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ibkrcampus.com\/campus\/traders-insight\/options-market-is-expectations-for-tesla-earnings\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/options-market-is-expectations-for-tesla-earnings\/","url":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/options-market-is-expectations-for-tesla-earnings\/","name":"Options Market Expectations for Tesla Earnings | IBKR Campus US","isPartOf":{"@id":"https:\/\/ibkrcampus.com\/campus\/#website"},"primaryImageOfPage":{"@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/options-market-is-expectations-for-tesla-earnings\/#primaryimage"},"image":{"@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/options-market-is-expectations-for-tesla-earnings\/#primaryimage"},"thumbnailUrl":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/02\/earnings_season_Featured-img.jpg","datePublished":"2023-10-18T16:00:00+00:00","dateModified":"2023-10-18T17:45:33+00:00","description":"Earnings season is back, thanks mainly to the run of banks and brokers that began on Friday. This afternoon, specifically, we hear from a member of the \u201cMagnificent Seven\u201d and the original \u201cN\u201d in \u201cFAANG\u201d. We\u2019re referring, of course to Tesla (TSLA) and Netflix (NFLX).","inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ibkrcampus.com\/campus\/traders-insight\/options-market-is-expectations-for-tesla-earnings\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/options-market-is-expectations-for-tesla-earnings\/#primaryimage","url":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/02\/earnings_season_Featured-img.jpg","contentUrl":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/02\/earnings_season_Featured-img.jpg","width":1000,"height":563,"caption":"What the Options Market is Expecting for Microsoft Earnings"},{"@type":"WebSite","@id":"https:\/\/ibkrcampus.com\/campus\/#website","url":"https:\/\/ibkrcampus.com\/campus\/","name":"IBKR Campus US","description":"Financial Education from Interactive Brokers","publisher":{"@id":"https:\/\/ibkrcampus.com\/campus\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ibkrcampus.com\/campus\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ibkrcampus.com\/campus\/#organization","name":"Interactive Brokers","alternateName":"IBKR","url":"https:\/\/ibkrcampus.com\/campus\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ibkrcampus.com\/campus\/#\/schema\/logo\/image\/","url":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/05\/ibkr-campus-logo.jpg","contentUrl":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/05\/ibkr-campus-logo.jpg","width":669,"height":669,"caption":"Interactive Brokers"},"image":{"@id":"https:\/\/ibkrcampus.com\/campus\/#\/schema\/logo\/image\/"},"publishingPrinciples":"https:\/\/www.interactivebrokers.com\/campus\/about-ibkr-campus\/","ethicsPolicy":"https:\/\/www.interactivebrokers.com\/campus\/cyber-security-notice\/"},{"@type":"Person","@id":"https:\/\/ibkrcampus.com\/campus\/#\/schema\/person\/31988d9596575a63ddc53e92049a2549","name":"Steve Sosnick","description":"Steve is the Chief Strategist at Interactive Brokers. He has held numerous roles in the organization since joining Timber Hill, IBKR\u2019s predecessor, in 1995 as Equity Risk Manager and an options market maker. He developed and implemented automated trading strategies for stocks and options before moving into his current role. Steve has guest authored several columns in Barron\u2019s and made numerous live on Bloomberg TV and Radio, CNBC, Yahoo Finance, Fox Business, and several other media outlets in North America, Asia, Australia, and the Middle East in addition to being quoted frequently in print and electronic media. Prior to joining Interactive Brokers, Sosnick held senior trading roles at Morgan Stanley, Lehman Brothers, and Salomon Brothers, where he completed the firm\u2019s famed training program.","sameAs":["https:\/\/ibkr.com"],"url":"https:\/\/www.interactivebrokers.com\/campus\/author\/steve-sosnick\/"}]}},"jetpack_featured_media_url":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/02\/earnings_season_Featured-img.jpg","_links":{"self":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/posts\/197846","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/comments?post=197846"}],"version-history":[{"count":0,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/posts\/197846\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/media\/184228"}],"wp:attachment":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/media?parent=197846"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/categories?post=197846"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/tags?post=197846"},{"taxonomy":"contributors-categories","embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/contributors-categories?post=197846"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}