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Out of curiosity, has anyone dabbled in TSLA futures? The at close futures price was $145 for March. If I figure this right the entry price is nothing and you get essentially 100x magnification on the underlying (or as if you had a delta 1 ITM call) that settles every single day. So yes today you'd have lost $638 / future, but if tomorrow it tracks up $15 to $154 for example, then you gain $1500 per contract. Any experts on why this is really good/bad? The magnification effect is even stronger than options, but gives you daily settlement so I can see how this could be crap as you really need to have the money for any consecutive downwards days. Basically you have a 1-day expiry position that keeps rolling up at delta 1.
Mario, your post got buried by the adapter upgrade "news" ... anyway, I do not trade single stock futures either (don't know many who do), but your post makes it sound like you are getting 100x leverage on SSFs, which is strange to me. If you are referring to the 100x multiplier per SSF contract, note that this is the same multiplier that most options contracts have.
As I see it, the risk/benefit of buying/selling a naked SSF is the same as buying/selling the underlying security, and the margin requirement is the same as buying the underlying. Moreover, there is less liquidity in SSFs than in the underlying. It's true that SSFs are marked-to-market daily, unlike the underlying, but I guess I don't really see the benefit of this.
Well, I couldn't resist. There is seemingly no extra premium on this week's options I had to buy more at the lower prices. I bought at a 135 strike so I figure I win if the market reacts favorably to announcements tomorrow or even if the stock just tracks back up towards 150. I have some at a 140 strike as well. Well, I must admit I have some at 170 as well but I am not expecting those to pay off.
And my other justification is that I haven't been to Vegas in 5 years...
Mario, your post got buried by the adapter upgrade "news" ... anyway, I do not trade single stock futures either (don't know many who do), but your post makes it sound like you are getting 100x leverage on SSFs, which is strange to me. If you are referring to the 100x multiplier per SSF contract, note that this is the same multiplier that most options contracts have.
As I see it, the risk/benefit of buying/selling a naked SSF is the same as buying/selling the underlying security, and the margin requirement is the same as buying the underlying. Moreover, there is less liquidity in SSFs than in the underlying. It's true that SSFs are marked-to-market daily, unlike the underlying, but I guess I don't really see the benefit of this.
As I understand your entry fee is 0 and if the stock goes up you gain 100x the move up (i.e. equivalent to a call option with delta 1) and if the stock goes down you lose 100x the amount and it's settled daily. So that would give you a 100x multiplier on underlying moves which gives you a nice access to the underlying without actually buying the underlying. So if we assume TSLA is going to skyrocket today, then buying the January futures contract would give you pure profit at a far far better ratio to initial investment (i.e. none). The only question is what kind of margin requirement there would be. Of course if TSLA tanks then you get a nice amount of loss too
Yeah I picked up some 140's this morning at $2. Wish I had put every penny I had into them up 165% now
I sold all my 140's, 150's, and half of my 155's just after the peak. I'm happy for the most part. My first order for selling the 140's didn't execute, I should have sold them at market, that cost me a little. I still have half my 155's, all my 160's and 170's. I'm down $200 right now because I bought the 160's in mid December.
The stock has ticked back up to $147 after the reca11 news... I made out quite nicely on my $155 Jan17s. I've only got about 20% of my original position left on that. I also sold 1/3 of my $155 Jan24s but I'm going to hold on to those a bit longer.