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Could not have imagined my JAN19 385 calls to get ITM so soon, surely not when buying them on april-19th.
(Bought @$32.75, now ~$73.50)
Options are small miracles.
I still hold my $385 calls, they are up 370%. I just have a feeling that we have some room to run today and tomorrow, so am still not decided when to sell...
MitchJi
Trying to learn kindness, patience & forgiveness
IMO this surge is an example of Jesse Livermore saying that in bull markets bullish effects are amplified and bearish effects are ignored. I don't believe that for most of the last two years a Gigafactory announcement would have moved the SP this much.
I might pull the trigger on a small amount a little early, before the July numbers announcement and the next ER. But if I decide to wait for it to actually start I'll wait for something definitive on the M3 production ramp.
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The real benefit IMHO is that it vastly accelerates Teslas core mission, which is NOT maximize profits for a small amount of people off the back of many others, but to accelerate adoption of EV driving, substituting gas/diesel cars with emission free ones. The windfall in profit is just a welcome sideeffect. Die hard selfish narrow scope thinkers don't get that, they are like 'thats just a trick to get your money, tesla is doing good with all future profits and monopoly position they can exploit and we profit' but they totally miss the point.
By ramping up in China, the electric revolution is less likely to be killable by the petrol cartels like China/Saudi Arabia/USA/Russia.
Maybe that is also why tesla open sourced its patents.
They are excellently positioned to succeed with capitalist goals in mind as well, but to me what even matters more is that they just did a significant move towards derisking their original mission. Which means they are riding the wave to a better future.
Disclaiomer I am long TSLA and lots of solar stock since solar energy is the logical consequence of electric driving. I also drive a Tesla Model X and so if I ever have any doubt about the value proposition of tesla, all I have to do is take a ride and I know.
Here are the reasons I think that we have some room to run (gut feeling/speculation/not an advice)
- after consolidation pushed SP from the regression channel it followed from the beginning of March until the beginning of May, we are back into the channel and seem to be destined to stay in it
- there is still some room under the upper Bollinger Band
- since the beginning of the run-up that started in early December, the SP more often than not had more than one healthy green day, after each consolidation/sideway move
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I have no knowledge in technicals. But I too speculate that SP will move up at least a few bucks tomorrow.
My observation of the short covering pattern we are seeing is that it is not "self sustaining". In other words, covering doesn't beget covering. But a substantial move up due to some natural catalyst, forces some amount of covering subsequently. It is recursive but with diminishing magnitudes and up to a point.
As long as there is time value (theta) in a put (even ITM ones) it is unlikely to be exercised early and assigned.
My understanding is your broker recalculates margin requirements daily. Fidelity uses 3 types of margin calls to protect itself::
- HOUSE CALL: margin equity in the account has fallen below Fidelity’s minimum requirement (which ranges from 30% to 100%). Generally, house calls must be met (money added to the account to bring the margin equity up to the minimum required) within 5 business days, but Fidelity may cover the call at any time.
- FED CALL: A Fed call is issued against the account if the 50% federal “Reg T” initial requirement for a trade on margin is not met. Generally, Fed calls must be met in five business days, but Fidelity may cover the call at any time.
- EXCHANGE CALL; margin equity in the account has fallen below the NYSE minimum requirement (currently, 25%). Generally, exchange calls must be met (money added to the account to bring the margin equity up to the minimum required) within 48 hours, but Fidelity may cover the call at any time.
I strongly suggest you paper trade for awhile before wading into the murky waters of writing naked short options or at least use spreads to cap the risk.
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Scaling the ginormous $385 wall: take four.
And....action!
And....action!
Krugerrand
Meow
No, I'm pretty sure next stop $270. At least that's what I've been reading here for quite some time.
Krugerrand
Meow
Best advice I've read here, ever.
TSLA highs get always wrecked because of macro ...
Last time high, it was the same thing....
Last time high, it was the same thing....
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