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Tesla, the most popular options trade in the entire market!

One stock has retained its appeal during 2022’s market tumult and that is, Tesla!

On Thursday, Tesla made up about 11% of all options volume, according to Tom Keen, an options trader at Piper Sandler.

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Cboe Global Markets Chart

Typically, that figure is about 8%. Tesla shares shot up 8.1% yesterday after a punishing stretch of losses and ticked higher in Friday trading, too.

The stock has been the most popular options trade in the entire market for a second year in a row, according to Cboe Global Markets data as of Dec. 15.

Traders spent more than $550 billion on Tesla options, in what’s known as premium, this year, surpassing money spent on the SPDR S&P 500 ETF Trust, one of the biggest funds tracking the stock index.

Options premium spent on puts this year has outpaced calls by a small margin as the shares have headed toward their worst year ever, according to Cboe data. That’s a reversal of one of the hottest trades of the past two years, when many traders piled into Tesla calls in a bid to profit from a skyrocketing share price.