Short-Term TSLA Price Movements - 2013

[CyberDutchie]

Some good technical analysis in this Forbes article that mentions Tesla and Facebook as examples of strong stocks that run up soon after a POH (Pullback off High), with some nice charts:

Strong Stocks Like Facebook, Tesla Lead Market Higher

Theory makes sense to me: pattern of people waiting for a decent pullback to enter the stock for the next run-up.

 

[smorgasbord]

Bought more puts. Completed building my hedge position.

I've sold my calls, just have stock with a basis around $30 and some sold calls that will expire worthless. Would mind sharing specifically how you're hedging now?

 

[ZenMan]

Just sold some weekly $170 covered calls for $5 each.

 

[Citizen-T]

10x the IPO price BTW. Anyone here have IPO shares?

 

[GasDoc]

I just sold about 10% of my position at 168 (does that make me a weak long?). Got in at 32 and again at 112.

The stock promptly rose to the high 169's after my trade--you can thank me for that

 

[c041v]

Through $170 now. I'm tempted to start my common conversion.

Anyone care to chime in about cashing in now (ACB around $60) to book profits and buy LEAPS at the right time? I have no idea where this will stop, but the last few days feels a bit unreasonable.

 

[Zextraterrestrial]

10x the IPO price BTW. Anyone here have IPO shares?

where is Bonnie? sitting back and giggling :wink:

 

[nursebee]

closed short, lost a days work in money, OUCH

 

[FredTMC]

New report of 300 orders in Hong Kong

 

[ckessel]

I have no idea where this will stop, but the last few days feels a bit unreasonable.

I've been thinking that for 3 months. I haven't sold anything, though less because I'm long Tesla and more because I'm in the "deer in the headlights" mode.

 

[Bonken]

OMG im starting to freak out! Im swedish so my account wont let me do any shorting or do any options so I do not know how to hedge against this insane rise. Im debating to just start selling. Ive been holding since 21. Tips or advice anyone?

 

[jak]

is there some sort of short-squeeze going on? It went thru 170 like there was no resistance.

 

[toastypasta]

Sold my Leaps. I don't like this it's a little too high for me.
Up 649% since March buying and rolling calls.

 

[mitch672]

Just sold some weekly $170 covered calls for $5 each.

Yeh, I'm not sure selling covered calls is a great strategy right now.. My Jan14 $165's are now ITM, and are at about $29, I sold them for $20. Normally on a pullback I could rebuy them for less than I sold them for, that's going to take a lot of patience now, or sell the stock high and close out the covered calls and take the small loss (in other words, wrong strategy was used)

 

[InTheShadows]

Wow, now that is some acceleration. To bad my otm leaps order didn't get filled at open.

 

[kevin99]

An unexpected short squeeze as a pre-Christmas gift? $172!

 

[c041v]

OMG im starting to freak out! Im swedish so my account wont let me do any shorting or do any options so I do not know how to hedge against this insane rise. Im debating to just start selling. Ive been holding since 21. Tips or advice anyone?

I think a lot of us are in this boat. ckessel brought up the point that we've been here before, but this time feels different. I am also caught in the headlights. I might just put in a stop and say "That was a good run." Book my profit and take some time to think about my next move without fretting over the ticker.

edit: I say this as we're destroying $172. WTF.

 

[Citizen-T]

Definitely short squeeze. Probably the group that shorted after the earnings drop.

 

[ZenMan]

Yeah since it blew by $170 it looks like the wrong trade, but the options premiums are still pretty high, so rather than buy a put for downside protection, I sold the calls. If I get net $175 for my Tesla I'll be fine with the trade. Although it could pull back between now and Friday and I'll get to keep my shares and pocket the option premium....

 

[kevin99]

OMG im starting to freak out! Im swedish so my account wont let me do any shorting or do any options so I do not know how to hedge against this insane rise. Im debating to just start selling. Ive been holding since 21. Tips or advice anyone?

hahaha, what a good problem you have there....


- - - Updated - - -

New report of 300 orders in Hong Kong

Isn't that old news? I heard that one month ago?