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ideas on constructing a macro-neutral long TSLA trade

dakh

Active Member
Supporting Member
Jun 14, 2015
1,145
2,615
Seattle, WA
Hardly been even lurking here since I retired, so Hi!

I like the current TSLA setup with upcoming stock split, already great and still improving financials, AI day coming up.. But I'm not willing to take much if any macro risk for this trade. What would be a good way to hedge the overall macro beta? I'm hoping someone have already done the homework, my quick google-fu is coming up kinda empty. Do I just buy PSQ (ewww) or short QQQ? Seems silly since QQQ will include TSLA plus yea TSLA is kinda a tech stock but I'm not sure if that's the best correlation. And what about international exposure like the overweight influence of the situation in China on TSLA?
 

dakh

Active Member
Supporting Member
Jun 14, 2015
1,145
2,615
Seattle, WA
Thinking about this some more, it would be interesting to play an options game in this direction as well. Sell '24 QQQ LEAP call and buy same expiry TSLA call, both out of the money by the same %? Should be good timing to do it now because of the IV drop in TSLA calls, although it's not much on calls that far out. Hmm maybe it should it be that the calls on both sides of the trade should be the same delta and at the money for the trade to be truly market neutral?
 
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