On Slow Day, Traders Take Tesla for a Drive
Corrections & Amplifications</br></br>The expiration of Tesla Motors Inc.'s lock-up period on Monday allowed those who invested in the company prior to its initial public offering to sell their shares. Tuesday's Options Report incorrectly implied that the lock-up applied to the company's IPO investors.</br></br>(WSJ December 31, 2010)</br></br>NEW YORK -- On a sleepy day for the stock market, traders were in high gear on Monday buying options for Tesla Motors Inc. at a key time for its investors.</br></br>An East Coast snowstorm and holiday vacations conspired to keep Wall Street trading light on Monday, but there seemed to be an unusual amount of activity in Tesla Motors Inc. options. Investors appeared to be buying January $25 and January $26 puts for the electric car maker's stock. It isn't a huge leap to think shares of Tesla, which closed down 15% at $25.55, could move up or down slightly by the Jan. 21 expiration date.