TSLA Market Action: 2018 Investor Roundtable

[KarenRei]

I'm freaking out about my stop orders. I so don't want to sell half of my TSLA stake, but I can't cancel because they're bought through a bank and it's closed :Þ I only put those orders to be able to sell on a high / buy on a low because the shorts inevitably create lows...

Going to be super-stressed until I get a response from the bank tomorrow...

 

[elliott82]

Quick question to se german traders: what happens if I convert my shares to this private Fidelity fund Elon is talking about. Is that technically a sell, do I have to pay taxes for that transaction? thx

 

[JRP3]

Initially I thought Elon's account might have been hacked so I sold a handful at $365 Loving this action either way.

 

[Unpilot]

yep

But why...who initiated the halt? SEC..Tesla...who?

 

[uselesslogin]

I converted a bunch of shares into short term weeklies at ~400 strikes, just before trading halted. Phew.

Wow, OK you are smarter than me. I got rid of all my options at least before they lost any significant value and got everything into shares.

 

[gringotuanis]

are bulls excited or worried?

You know it is not standard to announce and then halt trading an hour later....


im nervous, not gonna lie

No matter what this is good for the pocket books for us bulls , no matter what happens. Just we may not be able to trade Tesla much longer. Interested to see if/when they reopen trading.

 

[clmason]

Can someone explain how owning shares of the private fund would work? What's the benefit vs. taking the cash now?

 

[sundaymorning]

I warned about this for anyone with out of the money calls back in June:

General Discussion: 2018 Investor Roundtable

Mike I have $250 options. Do you know how this could play out?

 

[gringotuanis]

But why...who initiated the halt? SEC..Tesla...who?

I think usually it is the SEC or maybe even NASDAQ can decide it if there's too much volatility.

 

[TradingInvest]

I don’t like this at all, I want to exercise all my deep in the money options. They are now listed at $0 with big losses, someone enlighten me what is happening today... I don’t want to get out at $420, I planned to keep till $1000, probably many of the long term investers here as well...

If your option is deep in the money, I don't think they will go to zero. It doesn't make sense. I think this is just a temporary halt that caused a display issue.

 

[MXWing]

I'm short Tesla and glad trading is halted. Gives me time run out to the pharmacy for some lube.

 

[Shateam]

After 1,191 pages, I see this thread coming to an abrupt end

 

[Wooloomooloo]

Was anyone selling short at $290, $300, $325?

This is quite funny, and quite predictable. You know that line "I probably know quite a lot of things you don't know"... who said that? So appropriate here.

 

[Mike Smith]

That's just because with trading halted, there are no bids/asks for them. The deal can't be done without a stockholder vote, you should have plenty of time to do something about them. Exercise and sell, one at a time if necessary. (note: I'm in the same boat. Did have a quiet panic there for a minute.)

This isn't right. You guys are probably screwed if you have options with strike prices over 420. They'll keep some value in case they need to pay more than 420 but you'll lose almost all your money. You're probably not going to have a chance to sell unfortunately.

edit: I thought they were talking about far OTM calls. All is well for in the money calls.

 

[UnknownSoldier]

If I have to hold in order to stay in the private fund, I won't sell now. As much as I relish the idea of a short term profit, I know staying in the private fund will be much more profitable down the road.

 

[madodel]

What about option holders Elon?

He has said at least once in the past he doesn't care about traders. Musk never says anything he doesn't really mean even if it is a joke.

 

[traxila]

I do admit to selling 420 TSLA 2020 puts right after I heard of this. Thinking they should be worthless...hopefully.

Best part is I have Zero Hedge to thank for the heads up! LOL

 

[The Blue Owl]

I am concerned with the possibility that Musk might face some liability wrt. securities law. Can anyone shed any light on this?

 

[neroden]

To clarify things for people, the stock WILL start trading again, and will trade in the period leading up to the vote. That's how it works. They only halt trading until the company makes its formal announcement about the go-private offer.

I asked to recall my shares which were lent to short-sellers (which may take a couple of days). Largely this is because I want to make sure I can vote (no!) when the go-private offer comes through; you never know what they'll set for a record date.

 

[Mike Smith]

Mike I have $250 options. Do you know how this could play out?

They'll do very well. And once the price goes up near 420 you can convert into shares which apparently you'll be allowed to keep.