It will be interesting to see if the blog from the driver involved in the most recent fire makes it into all the news outlets that were so quick to report the fire. Unfortunately, I think I know the answer, and won't hold my breath....
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Social Chat - Short Term TSLA Movements
- Thread starter Jonathan Hewitt
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- TSLA
Good stuff, though as the post said, the truck in front (and however many cars before that?) cleared the object without issue. Tesla is a very low car at freeway speed with air suspension and so it's going to be prone to underbody hits. The car performed beautifully, but I'm still in a wait and see whether the low profile and battery covering the underbody causes Telsa to suffer both more impacts and higher damage (fires that total the car or full battery replacements vs. something like a ripped catalytic).
Stories are showing up under my iPhone stock app - San Jose Mercury News, Business Insider, The Verge...
If my car catches fire, I'll upgrade to a P85 and Tesla will get another sale. I don't think it will affect demand in a material way. The brunt of the hit has already been taken and I'm banking on a rebound from here.
As I noted earlier, since I bailed out of my LEAPS (options will just expire worthless), I'm subject to the wash sale rule and can't buy more stock/options without some unfortunate tax issues.
I did find an explanation that notes that selling ATM or OTM puts aren't considered substantially similar and thus won't trigger the wash sale. The theory is that you don't participate in upward movement if you sell such puts (where as selling ITM puts, you'd gain significantly as the stock goes up). As a relative newb, I had to read the rules a few times as it gets confusing since ITM and OTM are relative to which end of the contract you're on...
Anyway, the end result is that I think I can try to get in on TSLA while it's "cheap" with ATM puts. If the stock goes up, then I keep the cash. Obviously it's not nearly the gain you'd see with calls if the stock goes up, but the risk is lower since you make money even if the stock is flat (or goes down less than the premium you made).
I did find an explanation that notes that selling ATM or OTM puts aren't considered substantially similar and thus won't trigger the wash sale. The theory is that you don't participate in upward movement if you sell such puts (where as selling ITM puts, you'd gain significantly as the stock goes up). As a relative newb, I had to read the rules a few times as it gets confusing since ITM and OTM are relative to which end of the contract you're on...
Anyway, the end result is that I think I can try to get in on TSLA while it's "cheap" with ATM puts. If the stock goes up, then I keep the cash. Obviously it's not nearly the gain you'd see with calls if the stock goes up, but the risk is lower since you make money even if the stock is flat (or goes down less than the premium you made).
Citizen-T
Active Member
I mentioned this in the Long Term Thread, but I think it is relevant here too. Today I added to my holdings of common shares for the first time since about $30. All bought with gains from playing options since then.
GasDoc
Member
I got spooked and took profits at 140 last week. 401k account so no short term tax implications.
got brave and greedy again today and bought my shares back at 137.60
Nice little rise today after the repurchase :biggrin:
got brave and greedy again today and bought my shares back at 137.60
Nice little rise today after the repurchase :biggrin:
thanks for that Cit-T and others; I also added position today (low $140s) - I primarily use LEAPS - I added Jan2016 $170 strike significantly (note I would have gone with a $250-$300 strike typically for that but they aren't available yet- so I'll roll up later when they are)
Gtoffo
Member
I never sold my core position going down.... I still have some options expiring the 15th and the 22nd from my ER play (various bull call spreads for 175$ and above so worthless right now....). A small portion of my portfolio but a total loss.
I didn't have a lot of capital so couldn't add significantly to my long position without risking everything. So to profit from the run up I bought some short term (Nov 22) 145$ strike call options. So far so good but I've often managed to squander big gains with short term options....let's see if I learned my lesson this time....
I didn't have a lot of capital so couldn't add significantly to my long position without risking everything. So to profit from the run up I bought some short term (Nov 22) 145$ strike call options. So far so good but I've often managed to squander big gains with short term options....let's see if I learned my lesson this time....
I agree. The negative bashing has grown to hysterical proportions lately. Even positive news are turned around and twisted and there is a lot of lying going on. A lot of disgusting stuff going on these days. Without the immense pressure of this negative bombardement and realistic assessment of all the good news that come from the company the stock most likely would have hit 200 easily. Disgusting.
While I'm distressed that 3 workers were injured, the silly market reaction downward let me extend my long position at a modest discount. Should I send flowers?
Citizen-T
Active Member
If you believe this then I hope you are buying. I am. I've been adding to my common shares for the first time in a long time.
There's a story of a hedgefund manager who took a cab ride and the taxi driver told him which stock to buy. The hedgefund manager shorted and made a killing. All the market and "know it alls" are saying to short Tesla because it's the hot topic.
Citizen-T
Active Member
That's not really applicable here. The cab driver was praising that stock. That would have been the right anecdote when we were in the 190s. In fact I heard that story a dozen times from the 150s to the 190s.
Oh weird my point got cut off in the original post. My point was you need to go against the mainstream thinking. So buying when the horde is hating is the way to go.
Causalien
Prime 8 ball Oracle
This is advertisement that companies will pay TSLA's current net worth for but still won't get. Elon need to think about how to use this recent fame. I am sure if Tesla wasn't on someone mind before, they are now.
I would go with preannouncing the 2014 guidance in Jan (if it is good) reveal of China reservation and A Kevlar optional Addon with bullet proof glass as a "military" option. 1-2-3 punch at an unexpected time.
The problem is that everyone thinks that there's not going to be any news till march earnings, so it is fairly easy to short. And this is affecting the price as well as morale at the factory for those ppl who are paid in options.
I would go with preannouncing the 2014 guidance in Jan (if it is good) reveal of China reservation and A Kevlar optional Addon with bullet proof glass as a "military" option. 1-2-3 punch at an unexpected time.
The problem is that everyone thinks that there's not going to be any news till march earnings, so it is fairly easy to short. And this is affecting the price as well as morale at the factory for those ppl who are paid in options.
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