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I noticed that yesterday too, though I thought I was just not remembering correctly.
Who?Oh black bordered white candles, who I miss thee.
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Dynastar
Member
For fun I bought a $350 call at open for next Friday. By the middle of the day I was already up 10%, but this is supposed to be educational so I'm letting it ride.
erthquake
Active Member
Thanks! So someone's betting pretty heavily that the TSLA will be significantly above $305/310 next Friday? Do I have that right?
More model 3 deliveries cropping up today.
Francie Tech on Twitter
Instagram post by Peter K Chen • Sep 29, 2017 at 6:02pm UTC
Francie Tech on Twitter
Instagram post by Peter K Chen • Sep 29, 2017 at 6:02pm UTC
Betting above todays SP actually but with in the money calls.
Could also be a hedge though.
More than that. They're betting heavily that TSLA will rise significantly from its current price before Friday. They didn't want to pay much of a premium though (this is why they chose more in-the-money calls). If the price drops below $305/$310 they lose the *entire* $6 million; if it is somwhere between there and the current price, they just lose some of it.
The possible relevance is that someone appears to be betting on the deliveries report being a large surprise to the upside.
They may have inside information or they may just have really good information or they may just be a really big gambler (and possibly an idiot) or they may be a billionaire for whom $6 million is pocket change. Who knows.
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However, as noted, it could be a hedge. If it's a hedge it would be a short-seller trying to lock in an exit price *in case* the deliveries report is a huge positive upside. This would imply someone who has short sold 171,900 shares, which is a truly enormous number of shares to short-sell... that would imply a $58 million exposure... but I guess with shorting of $10 billion, there have to be some people with very large short positions...
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WOW. This guy doesn’t work for tesla and got his tesla. Nice to see cars being delivered outside of employees!!
Option_Sniper on Twitter
HUGE HUGE HUGE 30-40M $$ hedging $tsla today w/ Oct/Jan calls and Jan2019 puts. too risky for me. so i won't play it. just be careful folks.
thoughts??
I see that. Maybe an investor?
I like that there were a couple Model 3 in the picture. I doubt these are the only 2 being delivered at Fremont today and tomorrow
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People are expecting a big move, but uncertain of direction so too risky for Option_sniper?
I hate Twitter abbreviation. I'm not sure exactly what he's seeing happening in the Jan calls (buy? sell? what strike?) and Jan 2019 puts (buy? sell? what strike?), and I'm not going to bother to look it up, so I'm not sure what the whole trade *was*. Without knowing that, I can't even say what the trader might be doing.
...OK, I did look it up I don't see any crazy-high-volume trades in those dates. The *1010* volume in the Oct 6 $305s and *742* volume in Oct 6 $310s is outlandish, especially since it seems to mostly have been two trades. So I think my previous analysis that someone is betting on delivery numbers is correct.
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Totally agree. 'Option Sniper' needs the new expanded character number Twitter may be offering. Not enough info to discern anything here about the intention of this (these) investors/traders.
EDIT: Like most of us he expects a big move next week or so but is unsure of the direction
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