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

[reardencode]

So, a LOC order can execute at any selling price? It's not bound by the limit that is set?

Any closing price above the limit

 

[Rockster]

Any closing price above the limit

I misread the original post to say that a LOC would trade at any closing price. Sorry. I'm watching too many screens right now! Glad I took the day off work. There wasn't room to even pretend I was working today.

 

[M|S|W]

MOC orders are basically like charity - they will take everything they can get.

 

[TheTalkingMule]

I feel like I'm getting the best of both worlds. Action today, but no real decisions to make. Only thing I really want/need to sell today are my remaining 12/24 $700's and that's just gonna go by feel up til closing. My next step is selling the 15 shares in my pile that aren't an even hundred for $850 or higher, those sell orders are set for AH. Next is maybe selling 100-300 shares if we hit various $1,000+ share prices, and those orders will hopefully be set at 3:45(if we're within 50% of them and the orders can be set).

So really........I don't have to do anything and can just watch!

My major concern in catching this peak will be Monday onward selling covered calls against most if not all of my shares at various levels(mostly nosebleed) and various expirations(mostly 2022 & 2023). Then I sit back and think about TSLA maybe only once a day in passing.

Exciting times.

 

[Cherry Wine]

My major concern in catching this peak will be Monday onward selling covered calls against most if not all of my shares at various levels(mostly nosebleed) and various expirations(mostly 2022 & 2023). Then I sit back and think about TSLA maybe only once a day in passing.

Exciting times.

Don't kid yourself - you'll still think about it a lot.

 

[TheTalkingMule]

MOC orders are basically like charity - they will take everything they can get.

I've found that most charity recipients only take what they need.

 

[johnm6875]

I doubt Elon would have stayed. And if he didn’t, Tesla would maybe be at 24k annual deliveries today....if even in operation.

I believe Elon is the secret sauce and why I have no problem with his compensation package.

 

[Sudre]

15 minutes away from the Robinhood retail options dump. It is typical for Robinhood to sell all options that the holder does not have cash to exercise about an hour before close.

 

[dakh]

Folks should make sure they understand the mechanics of market-on-close and limit-on-close orders if submitting them for the first time. The former will execute as close to the closing price as possible - whether or not that's a level at which you would like to sell. Also, they can't be canceled after a certain point...I think 3:58 PM ET.

As close as possible? I thought that is exactly closing price or nothing.

 

[Curt Renz]

I was about to ask for help on the TD site as I can't seem to find the "on close" option. All I have now is GTC+Ext. Maybe it's being blocked?

Which site offers this feature to Sell on Close?

So have a significant number of TMC members decided to stop holding TSLA, and instead make it easier for the S&P 500 funds to buy at a lower price during today's market closing? If so, taxes could be monstrous.

 

[Opus BC fan]

 

[Big Time]

Yesterdays rocket ship ticker took off with 40 mins till market close

 

[SOULPEDL]

Recommend Tesla makes another capital raise today at the close.
Don't we need a lot more factories soon?

 

[Nocturnal]

I can only do limit on close orders in my IBKR account which doesn't have that many shares. I'll probably put a very high LOC for that handful of shares. MOC? Yeah hard pass on that. That's like sticking your shares in a box on driveway with a sign that says "honor system, please pay a fair amount".

Yes. How do they square that circle? Unless they think people place an unreasonably high value on gas' perceived edge for road trips?

They understand that people are irrational and fear change.

 

[willow_hiller]

So have a significant number of TMC members decided to stop holding TSLA, and instead make it easier for the S&P 500 funds to buy at a lower price during today's market closing? If so, taxes could be monstrous.

I'm not planning on selling, but I have set a ridiculously high LOC order in case there's a big imbalance in the closing cross to be exploited. If it doesn't fill, I won't be too bothered. If it does fill, the index funds will have paid off my Model 3 for a relatively small percentage of my TSLA, even after accounting for capital gains tax.

 

[agastya]

Curious why you went with MOC instead of LOC?

Just wanted to check how it works - n00b me
Thanks for this, and a post below as well - learnt MOC orders can't be changed after 1558ET

 

[mickificki]

rob maurer live right now.

 

[FrankSG]

@FrankSG - do you have a number in mind for the closing cross volume as an indicator of fulfilled index demand?

I haven't had time to think about this. Too busy today talking to IBKR about holding ITM options expiring today until final minutes before close

 

[SOULPEDL]

So have a significant number of TMC members decided to stop holding TSLA, and instead make it easier for the S&P 500 funds to buy at a lower price during today's market closing? If so, taxes could be monstrous.

Not really, no.

I don't expect anything to trigger really. The process is likely greased well, somehow.
But what if?

 

[Cherry Wine]

I haven't had time to think about this. Too busy today talking to IBKR about holding ITM options expiring today until final minutes before close

For what it's worth, Rob Maurer just covered this issue on his livestream - he's looking for 130M share demand, expecting a 30M dump out of the gate from extended index funds, etc., for a net of 100M share demand.

He's also really tempering expectations based on conversations he's had over the last day or so from folks who are saying that HFs have been preparing for this for a long time, people can short on close, etc.