i mean, I can't not at this point. This is ridiculous. Buying a few March 20 $400 puts on TSLA. rolling the dice here.
Folks, I am buying a SMALL amount of PUTS. Like $1,000 worth. Meaning if this goes against me thats ALL I am losing. I wouldn't dare short it with unlimited loss but I will certainly gamble some puts on it.
Cheers, -Sherem
Comment
⋅
and guys as an FYI, I don't expect this to go down today. Lot of buying pressure in the markets overall. I expect it to open lower tomorrow, or this week and go down from there.
Comment
⋅
Well went down from our put point, closed at 887 and bouncing around after hours
Comment
⋅
already dropped $100. cool.
Comment
⋅
watch this 790 closely. I will be closing if it breaks above and holds or we move sideways for too long. Otherwise, I expect the next leg down to go to 600 and I will be possibly looking to get out then.
Trade closed manually
⋅
I don't like this movement going on. Closing out.
Comment
⋅
Might not have been the best call to close out to soon. All though I still booked profit, it was minimal compared to what it was at one point or could have been. I didn't like the gap and while I realize those gaps usually get filled, the concern is profits would run away before it did or it would just signal some old school pattern like the abandoned baby and just run away. The expiration on my option is just a mere 40 days away and fewer trading days. I also tend to close out once I find myself stressing on a position, which for some reason it was. Would rather take minimal profits even in a small position then get emotional and have it affect my other trades. Cheers folks. If you are still in, good luck
It just completely nuts and signs of a Nasdaq market blow out. 50% rise in 2 days on no particular news, and with the Corona Virus spreading likely to affect China car sales and production. Insane.
Sherem
⋅
@ab123123, very insane. But Short's had to cover. A lot of large companies idiotically bet a lot against Elon musk. The reason they are covering now is TSLA flipped from being a company that could possibly fail to a company that just won't now. Once they stop covering, which I imagine will be soon, we should see a massive decline in price.
ab123123
⋅
@Sherem, Theres surely been some price manipulation here. A major short squeeze has happened but ill bet later well find out that someone bought a load of crazy call options, drove up the price, is now in the money, and will now get out of Dodge.
Sherem
⋅
@ab123123, maybe but i don't think so, institutional short sellers were in it HEAVY. really heavy. All of them are getting called now.