Tesla, TSLA & the Investment World: the Perpetual Investors' Roundtable

[Cherry Wine]

I have covered calls at 1500. I do not want to sell today. Ugh, this is above my normal stress budget. I know I could sell puts on Monday, but I think next week could rise all week as we get closer to earnings. I don't want anyone telling my wife she needs a smarter husband! (again)

There could also be a Texas GF announcement even before earnings. They are knocking out the approval steps, past the school district and now waiting for the county, but that seems like a lower bar, since they know how big a win it will be for the region.

60,000 sell orders at $1,500 now and the order book is a lot less buy-heavy at the moment.

 

[HG Wells]

SO, maxpain is at 1408 think we'll make it ?

 

[ZeApelido]

Stealth tweets? Twitter can't be bothered to notify me about these. What a tool.

Don't call me that

 

[elasalle]

Went Vertical on a Friday - with like 1320 Max Pain.
What gives?

 

[Curt Renz]

Approximately 30,000 shares on the order book at $1,500 as of now. I wouldn't be surprised if we close there.

This is a weekly options expiration day. Call volume and open interest is heavily focused on the $1500 strike expiring today. Big option writers (mainly hedge funds and market makers) would likely want to see the share price capped at $1500 today. However, trading volume is rather heavy this afternoon, and that could make manipulation difficult, especially in the face of short sellers covering to avoid forced margin calls at perhaps even higher share prices on Monday morning.

 

[wipster]

Judging by the stock prices, a lot of people are watching Netflix in their new Teslas!

 

[dc_h]

1492 would be a nice number to settle on. Can we speed this up a bit.

 

[oldTAVguy]

I wonder what the macros are doing today?

 

[Artful Dodger]

DELETE!

OMG what's happening?

IMHO, this is why successful, frequent traders like @TrendTrader007 have learned (through long, hard-won experience) to NOT watch the news (Hint: they're liars)

The theory is that the market prices in ALL news, and washes out the b.s. hence it is the great filter. CNBC on the other hand is more like a great sewer.

Best strategy if you want to trade? Ignore the News. Best strategy if you want to watch the News? HODL.

Not advice. ;P

Cheers!

 

[wipster]

1492 would be a nice number to settle on. Can we speed this up a bit.

New gigafactory in Columbus?

 

[Don TLR]

It usually happens on a Monday? Oh well, only until it doesn't.

The sooner an investor learns they don't know sugar and to expect the unexpected (which means you don't know sugar), the more profitable they will be in the long run.

This is one thing it's ok to be confident about, that you don't know sugar!

I stole this from Joe Rogan, seems fitting.
It’s sort of my investing strategy, act like a dead guy And never sell other than keep adding a few shares, glad I bought them yesterday..

 

[Vad42]

Note to self... stop selling covered calls.

Edit: I expect at least a Like from @StealthP3D

Welcome to the unfortunate "club". I managed to get out of 1200 calls expiring today with "limited" damage (still up in realized gains for the year) back on Monday. Originally sold them when stock was at low $900s. Who could've thunk it it will be so fast. I didn't think it'll cross 1200 today, and it's about to cross 1500 as I type this.

My new plan is to sell covered calls only 1 at a time and at price I am 100% willing to let 100 shares go... So I sold 1 call for 1800 in 3 weeks. Will have to see how that plays out...

 

[MABMAB]

Yippie kai yay.

 

[Tslynk67]

Confession time...

It's either write this post or perch myself on the window ledge. (Ground floor. Not much good there.) This is the only audience to whom I can bare my tortured soul.

Some years ago, I bought a bunch of TSLA at $200. (I'm not savvy enough to trade options. I'm more comfortable buying and holding long-term when I believe in the strength and vision of a company.)

Through it all I held fast and didn't sell. When TSLA went down to $150 and cries of 'bankrupt' were coming from every talking head on Wall Street, I just smiled and sat tight. I watched the reversal and held on, all smiles, until the pandemic hit. Until it was apparent that the pandemic was going to have a significant impact on the world and the Tesla factory closed.

At that point, I made the dumbest financial mistake of my life to date: I sold all my TSLA at around $750. Not because of any reduction in faith. I was trying to be clever. "There's going to be a dip back to $500-ish range due to the results of the plant closing and the general economic impact," my idiotic brain told myself. "I'll buy back in at that point and have even more shares."

And the downturn never happened.

My wife steadfastly shared my long-term faith in Tesla (which is still unwavering) but she, too, believed that the world's most volatile stock would dip and give us a chance to get back in. So we waited for a dip. And opportunity after opportunity passed us by as we waited for a dip that never happened.

So here we sit. Still sitting on cash that while missing every opportunity to reinvest in TSLA.

I'm absolutely tortured at the horrible decision I made by trying to be clever. My wife is far more zen about it. We locked in profit and she does a better job of focusing on that.

And, though it all, I can't stop beating myself up for exiting at $750. I'm so anguished over this that I can't let it go. I told my wife "I want to punch myself in the face until I'm unconscious, wake up, and do it again."

This is the only place who would possibly understand my pain. All of my friends and family would hear this and say "Oh, you didn't make enough on your TSLA stock and you're sad now. Boo hoo. Piss off."

So now we're faced with a decision: I want to just get back in now at market price and forget about the mistakes of the past and she wants to wait for a dip that may never happen before getting back in.

My belief is that long-term we're looking at $2500 - $3500 in the next three to five years and just jumping back in now is the best thing to do. Trying to be clever is what got us into this mess in the first place and I don't want to make that mistake again. My wife still believes that the world's most volatile stock won't disappoint and we'll see a dip again. Certainly not down to where we exited, but possibly nearer to $1000 or a tad lower.

That's my pain and our current struggle.

Thanks for listening.

One word: LEAPS

Not an advice.

 

[Etna]

Went Vertical on a Friday - with like 1320 Max Pain.
What gives?

It's not really vertical, the CNBC tracker has no data between 12:00 and 13:40 due to some bug.

 

[Silent Ludicrosy]

Welcome to the unfortunate "club". I managed to get out of 1200 calls expiring today with "limited" damage (still up in realized gains for the year) back on Monday. Originally sold them when stock was at low $900s. Who could've thunk it it will be so fast. I didn't think it'll cross 1200 today, and it's about to cross 1500 as I type this.

My new plan is to sell covered calls only 1 at a time and at price I am 100% willing to let 100 shares go... So I sold 1 call for 1800 in 3 weeks. Will have to see how that plays out...

I have two $1540 covered calls expiring today. I was not nervous until today. Might just have to buy them back for tax reasons.

 

[Hock1]

great idea!

was thinking the same thing 20 for 1 or At least 10 for 1

One more thing about stock splits: Elon misspoke when he was asked about a stock-split. He said something to the effect that it would be discussed at the ASM. The shareholders have no say in the matter of stock splits. It is entirely up to the BOD to make the determination. At best, the shareholders should be notified of the split at the ASM as opposed to being part of a discussion.

 

[lafrisbee]

Go to your profile page, under 'people you ignore' and enter the member's handle.

or just click on the person's avatar and his info will pop up and hit "Ignore"
EDIT....it seems as though the suspected troll has the word "Banned" as the title below his avatar... problem solved.

 

[mongo]

One more thing about stock splits: Elon misspoke when he was asked about a stock-split. He said something to the effect that it would be discussed at the ASM. The shareholders have no say in the matter of stock splits. It is entirely up to the BOD to make the determination. At best, the shareholders should be notified of the split at the ASM as opposed to being part of a discussion.

Because he would never want shareholder input

 

[TheTalkingMule]

You'd think someone would want to sell me a $450 put for Jan2022 today.........nope.

If you're thinking about selling everything except TSLA and sitting on cash til the elections are long over.....now would be a good time. Sell some $700 TSLA puts and go on a 2 month vacation. Either way you come back a winner.