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

[Rarity]

Could someone explain what just happened like I'm 5?

Fog of battle. The closing cross auction price is $695 (what the indexes bought at least 60 million shares at), but the instant market price a couple of seconds before the market closed was several percentage points lower. So there's a big confusion about what will set the price for expiring options. Also, you would expect the closing cross auction price and the instant market price to converge at the close of trading. But this didn't happen.

Very exciting. Very confusing. A bit disorderly.

 

[TheTalkingMule]

Fidelity is showing today's volume as:
195,796,907
Volume at close was:
69.3M of that

Seems bullish to my simple brain.

Apparently we're approaching 20M after-hours. Who all these people are selling AH below the cross price.....unclear.

 

[mrdoubleb]

Friendly reminder: we have actually closed at 3475 in pre-split terms. Just for anyone who is "disappointed".

 

[EnzoXYZ]

My 5 year old son’s nighttime diapers came in handy today tho I can’t fit in them. Congratulations everyone!

 

[Sanny]

Absolutely. TSLA is such a strong drug, the withdrawal symptoms over the weekend are real.

I heard some knitting during winter weekends could be exciting, need to try someday.

 

[Curt Renz]

Etrade says close was $658.34

Edit: Now says $695 After Hours

Edit: Now $685 AH

My brokerage also updated the closing price from $638.34 to $695.00. I assume the latter was the slowly determined MOC (Market-On-Close) price.

 

[NicoV]

So now that the dust is settled a bit, these are the winners:
- the front runners have their profit
- the etfs have most of their shares
- some of us got to sell a bit at a nice price
- the market makers succeeded with keeping the closing price under the 700 dollar wall of strikes, probably at the cost of a last minute naked short raid.
- the price didn’t shoot to the moon, which probably give some stability next week.
The losers are probably:
- shorts, waiting for their monday and tuesday margin calls
- market makers will have to go on their usual monday morning buying spree,
- the etf laggards will have to buy on the open market next week

 

[Singuy]

Huh, what is the deal with pinning at 680? Guess this is the price indexers and benchmarkers should buy in to have the least tracking errors?

 

[jerry33]

ToS shows 695 now as well.

 

[StapleGun]

Rob needs to shut down his live stream. He is really whining. This is not a day to be able to understand everything

Close it if you don't want to watch?

 

[Right_Said_Fred]

Seems the cross was ~60M shares?
AH ~17M shares?

That's not 120M+. Am I looking at this even remotely correctly?

Process the 20-40M share remainder at an opening cross Monday and be done with it? That would be ideal for my covered call selling plan next week.

Total volume increased by another 12 mln since I posted that. We’re at 204 mln now. I wonder if those 120 mln shares are already in there.

 

[TravelFree]

$695 3 times in the aftermarket.

 

[StealthP3D]

Could someone explain what just happened like I'm 5?

A bunch of people were trying to catch a bear and it's cub so all the little children could see a bear and a baby bear in the zoo. The bear came out of the woods and roared really loudly making all the bear catchers run away. Then, one of them said, "Why are we running away? We are supposed to be catching the bear." So they followed it back into the woods and caught the bear and put it in the cage. But the little baby bear was no where to be seen so they will try to catch it in the morning.

 

[TravelFree]

This was a very profitable day for me with so many bounces.

 

[saniflash]

Huh, what is the deal with pinning at 680? Guess this is the price indexers and benchmarkers should buy in to have the least tracking errors?

That'd be 695

 

[adiggs]

Ok, time to sleep(again). But will be interesting to hear how the index funds managed to buy 130M shares today. I have a feeling monday will see some action!

Over the weekend, I'll be looking for posts from people going and looking up the index ETF to see what their new position is in TSLA, and whether it has the necessary weight. From that, I expect we'll be able to make an estimate of how short the universe of the index funds are on TSLA shares, and therefore how many shares they'll be looking for at the Market on Open (opening cross) on Monday.

And assuming that they STILL don't have enough shares, then we'll also have an idea of how big the buying pressure is after that (whether it's 3 days, or 7 days, or whatever).


EDIT: I plan to add some Limit orders over the weekend to all of the positions that I'd like to close out for one reason or the other. Just in case the Opening Price is enough of a change that I can get an insta-fill at start of the day that makes me happy.

 

[wipster]

Etrade updated closing price ($695), but not for options

So does Curt need a play another song with higher notes?

 

[davecolene0606]

Hey Curt where's the....


Fire Away!
(It'd still the batteries, Stupid!)

 

[thx1139]

So for the MOC orders what did they pay for the stock?

 

[Prunesquallor]

So, are we in suspended animation in the middle of the Infinity Squeeze?