"The move higher in Tesla shares bore no relation whatsoever to the company's financial performance in the quarter," JPMorgan wrote.

Tesla, IBM and Meta Platforms helped lead most U.S. stocks higher on Thursday following a rush of profit reports from some of the country’s most influential companies. The S&P 500 rose 0.5%, as four out of every five stocks in the index climbed.

Options markets can help investors gauge how Tesla stock might react to earnings. Options give the holder the right to buy or sell a stock at a fixed price at some point in the future. Looking at opti