TSLA option writers

vincentnyc · Feb 5, 2020

good thing i sold all mine at 924 yesterday 2/4/20.

S2007S · Feb 5, 2020

S2007S said:
Yep.

It's not going to end well. I would not at all be surprised to see it drop $250+ in a single day.

Getting ever so close....chances of a $250 drop would only happen today, but damn close. Let me guess, no one saw this coming? Haaaa

S2007S · Feb 5, 2020

Pekelo said:
On the way down, there will be vicious rallies. That is a time to exit, not to buy in. As an idea of how big rallies you can expect, BTC went from 20K to 12K then back to 16K, IIRC but eventually it bottomed at 3K.

A mere 85% from its ATH. Tesla at 500 is a given, the question is just if it would take 3 days or 3 weeks.

So you think a drop to $500 and a rally back to 700-800 and then a drop to $300?

ironchef · Feb 5, 2020

S2007S said:
Yep.

It's not going to end well. I would not at all be surprised to see it drop $250+ in a single day.

If we are true traders and like everyone told me to just trade the charts, why would it not end well?

ZBZB · Feb 5, 2020

Scataphagos said:
I wonder if there will be any tragic stories of naked call writers... ?

There was someone on this site who new a call option seller who lost $7m at the previous earnings spike to 350 and is now out of the game.

Scataphagos · Feb 5, 2020

ZBZB said:
There was someone on this site who new a call option seller who lost $7m at the previous earnings spike to 350 and is now out of the game.

This spike surely caught some others...

ZBZB · Feb 5, 2020

Scataphagos said:
This spike surely caught some others...

I sold the put spreads since October four times. The plan was to buy the stock with the proceeds. I bought a few shares but should have bought the calls. I stopped watching terrestrial TV in the U.K. as the Brexit debate was moronic and switched to YouTube. The youtubers were well ahead of Wall Street on this stock.

buttermarket · Feb 5, 2020

these are mostly option 'players' doing these option strategy nobody or very few people buy these options for speculation the prices for thees out of money options are BS like this market

Seaweed · Feb 5, 2020

ZBZB said:
I sold the put spreads since October four times. The plan was to buy the stock with the proceeds. I bought a few shares but should have bought the calls. I stopped watching terrestrial TV in the U.K. as the Brexit debate was moronic and switched to YouTube. The youtubers were well ahead of Wall Street on this stock.

Interesting take. You make it seem though like there is a fundamental reason for why the stock went up. Seems to me like its just a combination of a short squeeze and a self-fulfilling prophecy. It almost sounds like a penny stock pump and dump but on a much larger scale.

Its not so surprising though. If you can get millions of twitter and Instagram followers just for doing stupid shit, then its not a stretch to get thousands to buy shares. Interesting times going forward.

ZBZB · Feb 5, 2020

Seaweed said:
Interesting take. You make it seem though like there is a fundamental reason for why the stock went up. Seems to me like its just a combination of a short squeeze and a self-fulfilling prophecy. It almost sounds like a penny stock pump and dump but on a much larger scale.

Its not so surprising though. If you can get millions of twitter and Instagram followers just for doing stupid shit, then its not a stretch to get thousands to buy shares. Interesting times going forward.

watch YouTube solving the money problem. This Australian sold a 15 stock portfolio to be 80% long Tesla and 10% long googl and amazon. When you actually get the story you will see that is the best stock story you will ever hear. It is even politically correct as long as the elite keep pumping climate change, how can TSLA go bust?