gary3411
Member
Was down over 600 points but now up 150. Stock market is weird.
China virus numbers came out and they were good. That was the time of reversal. China has a playbook for the rest of the world to follow, corona risk is falling.
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Was down over 600 points but now up 150. Stock market is weird.
OT: Any of you smart folks figured out yet why Elon said the Air Force should use remotely piloted Jets with AI assist?
Hint: He has a very vested interest in that suggestion coming true.
OT: Any of you smart folks figured out yet why Elon said the Air Force should use remotely piloted Jets with AI assist?
Hint: He has a very vested interest in that suggestion coming true.
OT: Any of you smart folks figured out yet why Elon said the Air Force should use remotely piloted Jets with AI assist?
Hint: He has a very vested interest in that suggestion coming true.
It would no longer be called a Jet because it is nicknamed after a jet engine. Maybe called a E-plane! Big ones could designated an E-(insert plane designation number)-heavy.I wonder how much quieter an electric jet would be. Is such a product remotely in the realm of future Tesla endeavors?
Consider the market making needs of the option writers Friday: The stock price ranged from $611 to $690, trimming that a bit to options in the $620 to $680 strike range assuming that outside that strike range both puts and calls were already fully hedged before the day's trading and delta didn't change much, we find (from Tesla, TSLA & the Investment World: the 2019-2020 Investors' Roundtable) that there were 15,516 open put contracts in that range, representing 1,551,600 shares of put hedging. On the call side, there were 3,228 open contracts in the strike range of $620 to $680, representing 322,800 shares of call hedging.
So -1,102,200 x (avg put delta) + 322,800 x (avg call delta) was dynamically hedged throughout the day. If we assume the same average delta for calls and puts (not a great idea but I can't think of a better approach) that means they would short 779,400 x delta shares. If the 301,960 shares exempt shorting represents those hedges, that would produce an average delta of 0.387 which seems possible.
Every call contract $660 and below closed ITM and the MM will need shares to deliver to those call holders (1,688 contracts or 168,800 shares). All the puts $670 strike and above ended ITM, and the MM will be expecting delivery of that stock (4494 contracts, or 449,400 shares) when the puts are exercised. That nets 280,600 shares expected to be delivered to them, which doesn't quite fully cover their 301,960 shares they shorted over the day, so they could be expected to buy 21,360 shares to close their short. That the net stock delivered to them from the options with strikes over the day's trading range matches pretty close to the net exempt shorting is additional evidence that the day's exempt shorting may well be mostly legitimate market making activity.
Additionally because the after-hours price crept up, it is possible many of the $670 call holders could request exercise even though it was OTM at the close. That represents up to 44,400 additional shares to purchase. At the same time, some $670 put holders could request that their puts not be exercised, but since exercise is automatic for them unless they take action I think this would be fewer. Still this would not bring the net after-hours covering anywhere close to the after hours buy that you identified.
In summary, on the one side, shorting 301,960 shares throughout the day seems potentially plausible as a legitimate market making activity. On the other hand, if hedged correctly you would expect little need to re-balance after the close (21,360 shares + up to 44,400 more bought by my estimate) which does not match up with the after hours purchase. So the two share sizes could just be a coincidence.
No? You seriously believe "the news" reports the news? The News has NEVER reported the news. And I mean never. At least not any newspaper in the public domain. I am not making fun of you. Your perspective is that of the common man...but I do not think much of the common man. You and him just believe what you are told. Unfortunately the idea that "the news" is this grand institution of honesty is pure Bull sugar. Newspaper are out to make money. There is no honor in the news industry, period.Herein lies the dilemma for our time, do 'news' outlets report all 'news' or selectively report news that benefits their sponsors, and hence provides increased profit to 'news' outlet organizations.
Remember there is going to be a jump in the share price when the media finally starts reporting on imminent Model Y deliveries. CNBC, Bloomberg, Yahoo, and Reuters have said nothing so far. Maybe seeing cars on transport trucks will finally get them to do their jobs.
To be fair, once the others have replicated the farting app, their lead will be lost.I love how this image, of all of them, is clearly the most crowded. People crawling all over the cars, and huddled around.
We have such a recent survey from China - got buried in the PMI news:
China's manufacturing PMI drops in February amid epidemic - Xinhua | English.news.cn
"As of Feb. 25, the work resumption rate in NBS surveyed large and mid-sized enterprises nationwide has reached 78.9 percent, and it is expected to climb to 90.8 percent by the end of March, according to the NBS."
Yes, as soon as the batteries are dense and light enoughI wonder how much quieter an electric jet would be. Is such a product remotely in the realm of future Tesla endeavors?
remember I bought a 795 May 15 call. I'm gonna gloat pretty hard if that goes ITM this week just fair warning718 in early premarket, Frankfurt...
Previous estimates were around 30% work resumption, so this was a positive surprise, while the PMI was a big miss.
Looks like it wasn't as buried as I thought: while futures opened down there was a big rally and bounce-back in Asian markets:
"The Shanghai Composite is soaring ahead, up nearly 3% after the lunch break to be at 2963 points while the Hang Seng Index is up by 0.8% to 26349 points, bouncing off January’s low."
"Japanese share markets have seen a neat bounce in line with a mild selloff in Yen with the Nikkei 225 gaining just over 1% to 21359 points."
Dow futures up 150 points - we'll whether the sentiment sustains into European and U.S. trading.
For example on the negative side there's "peak FUD" about the coronavirus on social media, on the positive side I'm not sure the Fed chairman announcement from Friday is fully priced in.
Nasdaq 100 Futures - Mar 20
Real-time derived
8,587.00 +133.00 +1.57%
02:49:22 - Real-time derived data.
Currency in USD