Tesla has the smallest market capitalization of the Magnificent Seven these days, and gets less buzz than Nvidia. But the electric-car maker stands out another way: the value investors place on it, relative to near-term profits.

Looking at how options markets are treating Tesla stock can give investors some idea of what kind of volatility to expect after the company posts third-quarter earnings results. Stock options give investors the right to buy or sell stocks for a specific price at a fixed point in the future.

The options over-under on how much Tesla's stock will move, in either direction, after earnings is a lot less than what investors may be used to in recent years. Straddles, which are [pure volatility

Tesla, Inc. has enormous intermediate- and long-term sales growth and earnings growth potential. Click here to find out why TSLA is upgraded to a Strong Buy.

"We see Tesla shares as a must own. The disruptive force of AI will wreck multitrillion dollar industries, starting with auto," Wertheimer noted Monday, adding that Tesla and CEO Elon Musk's business "ecosystem" appear well positioned to deliver on AI ambitions.

Shares of Tesla have nearly doubled over the past year. It's a sharp contrast to the fundamentals. Revenue over the past 12 months has declined 3%, with a double-digit dip across all profitability metrics. As bad as things have been, things could be about to get worse.

Tesla reports third-quarter earnings after the close of trading on Wednesday. Investors will be focused on the company's demand outlook and its futuristic plans.

Tesla reports third-quarter earnings after the close of trading today. Results typically are released a few minutes after 4 p.m. Eastern time. Investors will be looking for solid earnings after the company delivered almost half a million cars in the third quarter,