Well, the statement said he was stepping down from the CFO position essentially effective immediately… transition is good, for sure. but why not work on hiring a new CFO (i think the replacement is a fill in stop gaap (no pun intended). TWT, key C level ppl stepping down, essentially effective immediately always put my spidey senses up a bit more than usual. Tesla, and more Elon doesn’t really do anything in a traditional way - like sourcing a new CFO before the current one steps down from the role “effective last Friday”, so doesn’t seem planned or coordinated, and again that always makes me wonder a bit more than needed. Again, TWT. I’m updating my keyword alerts for TSLA on the BT.
-
Want to remove ads? Register an account and login to see fewer ads, and become a Supporting Member to remove almost all ads.
Wiki Selling TSLA Options - Be the House
- Thread starter adiggs
- Start date
Id take profit on these when appropriate. Its just me. NTA. We are closer to a bottom than to a top, jmho.
As everyone knows, I dont look at most news. "Bad" news tend to find their way to the surface or seem to have a bigger impact during corrections. Thats because while market participants are anticipating lower prices, they tend to overreact to negative news, much like what we are doing in this thread, a mistake fresh from memory just 3 months ago.
Id like to remind everybody that before P&D we visited 240. Thats when call IVs were still sky high. Thats before margin "concerns" and Zack stepping down. Even after calls have been liquidated en masse and all kinds of supposedly negative news have been baked in, we've still not touched 240 yet. Is that bearish? Looking at this, was P&D and ER a success or a failure?
Last edited:
30x -p260 & 119x -c260 this week, MP is at 260, so I’ll wait and see
Was hoping to move away from straddles, but ain’t happening yet… maybe next week…
Zach stepping down is a nothing burger for Tesla's long term growth, revenue, profits, EPS, and future SP. But Wallstreet is dumb, and if we close below the 50 day MA that could be the start of a down trend. I rolled down 315 naked Calls to 290 for Friday for an additional 0.1 scalp near the open. I'm waiting until tomorrow to possible sell more CSP for Friday.
I’m pretty sure that’s going to be a placeholder, I doubt he’ll do BOTH rolls for long. We’ll see, but I’m sure they without question wanted/needed a NAME to put in the CFO box immediately. That’s just standard.
Anyone looking at buying some +C LEAPS down here?
Gonna wait to see how tomorrow's like. The morning's downtrend kinda followed the general market.
Zack stepping down also reduces the odd of Elons stepping down in the near term, however unlikely it was to begin with. And what exactly is negative about him stepping down anyway? Its not like hes the first or the last high ranking executive to step down at Tesla. Have we seen any negative impact to growth from the prior departures?
To be honest, to traders, the biggest impact Zack seems to have is his finese during ERs. However, even he could not stop Elon from derailing the conversation most of the time.
To be honest, to traders, the biggest impact Zack seems to have is his finese during ERs. However, even he could not stop Elon from derailing the conversation most of the time.
Im waiting to sell some puts should we reach 240.
Knightshade
Well-Known Member
There's already the obvious screaming from Q about SEE IT'S FRAUD ALL THE WAY DOWN of course, but that's not new, just louder today.
Yeah that's the biggest thing in my mind, for the too-brief period Elon wasn't actively talking on quarterly calls Zach was a very calm voice of reason and stability and that'll be missed, hopefully the new guy can offer same.
Sometimes there’s a reason when things look cheap, or appealing. ;-).. Jan/Mar 24 $300 strikes, so, well within a recent striking distance (NPI) trading at 5% of the underlying seems historically pretty cheap to me. And with only about a 2% spread in between them for a whole quarter, or about 1.5% of the underlying. We’ve seen call premium coming down significantly in the past 3-4 weeks, and it’s continuing.
Last edited:
Maybe.
I dont buy calls. What I do is sell naked calls and close them if opened in outsized quantities. I guess thats still considered buying, but BTC.
Level wise its getting yummy but the timing is still not there for buying calls, I reckon. Maybe end of this month if we see 240 AGAIN. or lower. Ive since moved my downside target up to 240. However, 225 can be reached if things get REALLY bad.
Calls are still not cheap enough imo. One has to consider the reason we are steadily going down is not because of margins or Zack. IVs were way juicy to begin with. When theres no more reason for them to stay juicy, the only course of action is sell them. Thats downward pressure on the stock. Then sell some more as the stock fails at each dead cat. Then sell some more when there is a piece of bad news. But at some point the stock will reach a level that big tutes like and calls are no longer expensive. Dont get caught holding short ATM calls at that moment is all Im saying.
Last edited:
While I love these graphs, I still haven’t figured out exactly what the heatmap is supposed to indicate to me? Does one want to see it more GREEN, green tilting downwards not upwards?..more red would SEEM to be “bad’ but again. I focus more on volatility, current price relative to historical price (of the options price relative to the strike and theta)..
Similar threads
