Tesla Earnings on 10/23/2024: What to Expect and Potential Price Movement

Tesla is set to release its earnings on 10/23/2024, after the market closes. Over the last eight trading days, Tesla’s stock has been stuck in a narrow $10 range, with earnings likely being the next major catalyst for movement. Year-to-date, TSLA is down 13%, still struggling to recover from its post-split price of $300 back in August 2022.

Looking ahead, Tesla’s stock could either drop to $200, its next key demand level, or rally up to $240, which is the next significant supply zone. Much of this movement may hinge on factors like earnings performance and broader market sentiment.

Another angle to consider is Elon Musk’s political stance and the impact of the U.S. election. Depending on the outcome, Tesla could see continued government funding, which might give the stock a boost. That said, volatility is expected—an 8% pullback to $200 or an 11% rally to $240 is very much in play. Traders should be prepared for sharp moves in either direction as the earnings report nears.

The way to trade this is to wait for earnings to be reported, then watch to see which level gets hit. 

- At $240 consider a 250/255 vertical call spread or 250 puts

- At $200 consider a 190/185 vertical put spread or 185 calls

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The trading opportunities mentioned are informational and not intended as personal financial advice, conduct your own due diligence, all trades involve risk, there is no guarantee of ROI, a potential loss of capital exists with any trade.