As Elon Musk Hits $500B in Net Worth, Options Data Tells Us Tesla Stock Could Be Headed Here Next

As Elon Musk’s net worth surpasses the historic $500 billion mark, Tesla (TSLA) shares’ trajectory appears poised for continued momentum, according to options data from Barchart.

The milestone achievement, largely driven by a cosmic rally in the EV stock, and soaring valuation of SpaceX and xAI, has positioned Musk about $150 billion ahead of his nearest wealth competitor, Larry Ellison.

At the time of writing, Tesla stock is up roughly 100% versus its year-to-date low in early April.

TSLA stock is facing regional challenges, particularly in Europe, where sales declined 22.5% year-over-year in August amid consumer backlash and increasing competition from rivals like BYD (BYDDY).

Still, investors have doubled down on the EV stock over the past six months mostly because of the optimism surrounding the firm’s robotaxi initiative and its work on humanoid robots.

However, on Thursday, the multinational recorded 497,100 vehicle deliveries for the third quarter, well above 448,000 that Wall Street had forecast and 384,122 that Tesla delivered in Q2.

Much of this strength, though, was attributed to U.S. buyers rushing to capitalize on the $7,500 EV tax credits before they expired on Sept. 30.

While Tesla may not have fully captured the sales slowdown yet, options data from Barchart signal investors are largely pricing in continued momentum in the EV stock through the remainder of this year.

Contracts expiring on Dec. 19 indicate TSLA shares will trade within a broad range of about $339 and $515, suggesting continued volatility ahead albeit with material room for further upside.

In the near term, the expected move through Oct. 10 is 5.1% with a lower bound of roughly $407 and the upper bound of about $451.

This setup reflects a market that’s cautiously optimistic: supportive of Tesla’s long-term innovation narrative, yet still sensitive to regional headwinds and valuation concerns.

Investors should note, however, that Wall Street firms currently see greater chances of “downside” playing in Tesla stock over the next few months.

The consensus rating on TSLA shares currently sits at “Hold” only with the mean target of roughly $332 indicating potential for a 25% decline from here.