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Tesla Motors, Inc. (TSLA) Message Board

  • a2020trading a2020trading May 23, 2013 3:19 PM Flag

    Did I miss 83.10?

    Nah, will go down again next week, not tomorrow.

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    • You had the right of it with your earlier post, they are pinning it around $92.50. It is the underwriter's sweet spot for supporting the offering. No idea how long they will maintain support but I suspect through Friday.

      I closed half my short call positions at $84, the remaining half are short calls with strikes higher than here. Personally I think we spike in the AM and crash (or vice versa); uwer will set price to $92.50 by dumping everything they bought today. That is why it is having so much difficulty getting past this point; getting here was the underwriter, past this point requires actual buyers to overwhlem the uwer liquidating his stabilization. Options will help them clear it although there is not much OI on the weeklies at this level, not compared to volume. Interesting really, they did not support much all week but started stepping in when options premiums were weak and they were close by an expiration. They ran the price up and down all week and cleared out all the options at each level on the cheap.

      I am actually ok with this move, I wanted to re-short weeklies at a higher price, this will give me the chance. Shorting the Weeklies in the upper $90s has been beautiful, they melt even if the price stays flat due to the short trading time. Next week, its only four trading days...

 
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