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Social Chat - Short Term TSLA Movements
- Thread starter Jonathan Hewitt
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- TSLA
marvinat0rz
Member
Let's get down to Tesla's "intrinsic value" of $36 per share and I'll quadruple my position 
Go go!
Go go!
InTheShadows
Active Member
Grab on to your lap bar, this one is looking to be a big drop. It's falling quicker and the market still has 2 minutes to open.
InTheShadows
Active Member
I expected open to be a lot worse...so either
A. People don't care about the fire
Or
B. People don't know about it yet
Also possible that the stock already took such a huge hit yesterday that there's nothing else to give (wishful thinking?) or that it's going to be a slow drop.
A. People don't care about the fire
Or
B. People don't know about it yet
Also possible that the stock already took such a huge hit yesterday that there's nothing else to give (wishful thinking?) or that it's going to be a slow drop.
Correct, new short positions are restricted until market close today. We'll see how TSLA does tomorrow once new shorts are allowed back in. Personally, I don't think the next week will be pretty.
Twitter's IPO is sucking up all the attention right now, so I wouldn't be surprised if most major news outlets have yet to print a story on the fire.
That begin said, the rumors flying around that Tesla fires are being intelligently staged seems to become more credible with each incident.
At least the Model X won't have similar problems.
That begin said, the rumors flying around that Tesla fires are being intelligently staged seems to become more credible with each incident.
At least the Model X won't have similar problems.
Well, I abandoned my 2015 LEAPS. I don't think we've hit bottom since we're in the short sale short circuit today. I'll take the loss and write it off against the gains from earlier stock sales. I was in a tricky spot with taxes anyway and would likely have to sell some next year regardlless to pay taxes on the gains I used to buy the LEAPS.
I'll set the 30 day clock on the wash sale rule and look at reentering the 2016 LEAPS after that with what I have left. That also removes any margin usage, usage I'd intended to remove by selling off my Nov16th options, but those are worthless at this point. I don't see a lot of catalysts for major recovery over the next 30 days.
I may sell LEAP puts as a replacement for buying calls. That nets me some cash without using actual margin (though it counts against margin available). I'm not entirely sure how that works with the wash sale rules though, so I have to research that.
I'll set the 30 day clock on the wash sale rule and look at reentering the 2016 LEAPS after that with what I have left. That also removes any margin usage, usage I'd intended to remove by selling off my Nov16th options, but those are worthless at this point. I don't see a lot of catalysts for major recovery over the next 30 days.
I may sell LEAP puts as a replacement for buying calls. That nets me some cash without using actual margin (though it counts against margin available). I'm not entirely sure how that works with the wash sale rules though, so I have to research that.
To be honest I'm kind of excited. This past month has sort of been a reality check for me with TSLA, and I feel much more knowledgable now as we move forward. The only thing driving us down is FUD and inflated expectations becoming more grounded. Fundamentally, Tesla hasn't gotten any worse. Unfortunately I suspect we will still be heading lower, but once we do find support and the dust finally settles, I will gladly ride it all the way back up to 200 and beyond.
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I appreciate the positive perspective, but I think this is much more than a little blip. whether the car is safer than an ICE (I believe it is) or not, no longer should be the focus for Tesla. Tesla needs to admit that a previously unforeseen vulnerability to the battery has been found and they are quickly working to make the safest car in the world even safer with reinforcement to the battery shield... it's critical, I believe to Tesla's survival, IMHO. Nothing catches attention and creates more fear than the idea of electrical fires in new technology. the fact that gas cars catch on fire a lot is old news, something people have learned to live with, it just can't be the focus of the response any longer, IMHO. Tesla has to find a way to make the car less vulnerable to road debris, period.
Raffy.Roma
Rome (Italy)
Agree 100%. I think a battery upgrade with the purpose of improving safety is necessary. Hope it will be announced soon.
You should do some more research on this but it's my understanding that the 2016 LEAPs are not substantially identical with your 2015 LEAPs since they are different strike and expiration dates, so you could just buy the 2016s without worrying about the wash rule.
Gtoffo
Member
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