Tesla stock options traders are even more bullish than Elon Musk, betting shares will soar nearly 400%

• Tesla options are traded more than any other stock, according to CBOE data cited by the Wall Street Journal.

• Nearly 3 million contracts for Tesla options are traded daily, up from 1.5 million a year ago, accounting for roughly 7% of all options trading.

• The most popular options trade is for Tesla stock to surge 394% within 12 months.

Wall Street loves options trades on Tesla stock, and the most popular bet would see shares surge nearly 400% within the next year.

Tesla options are traded more than any other company's stock, according to CBOE data cited by the Wall Street Journal. On average, nearly 3 million contracts for Tesla options are traded daily, up from 1.5 million a year ago, accounting for roughly 7% of all options trading.

And on January 6, options trades on Tesla touched over 5.2 million, making up 10% total volume on the busiest day for options contracts.

The most popular options bet for Tesla would see the stock double from its all-time high of $409.97, which represents roughly a 394% increase from the current trading price.