Either
@Fact Checking or
@ReflexFunds (I can't remember which one, I love both of their contributions to this forum) shared this Friday's option expiration details with us last week. The amount of $500 calls expiring is very large (like 15k contracts iirc), so they have a lot of reasons to defend $500 hard. The fact that they're already struggling to keep TSLA SP below $500 on Monday, doesn't bode well for their ability to do so later in the week.
And correct me if I'm wrong, but don't they have to buy shares to delta hedge once they lose control and can't keep it below $500? Meaning that if it does break out, it's likely to break out big?
Speaking of the devil, just shot up over $500 again. I don't know if it's a good or a bad thing that I live in Asia and need to sleep for most of the hours the market is open. On one hand, I can't watch these epic battles and rallies unfold live. On the other hand, I don't think I'd get anything done and just watch the stock move all day