TSLA Jan 2021 370.000 put

OPR - OPR Delayed Price. Currency in USD
0.00 (0.00%)
As of 11:22AM EDT. Market open.
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Previous Close156.19
Expire Date2021-01-15
Day's Range156.19 - 156.19
Contract RangeN/A
Open Interest12
  • The Driverless Car Is Dead. Long Live the Driverless Car

    The Driverless Car Is Dead. Long Live the Driverless Car

    (Bloomberg Opinion) -- A $4 billion joint venture between Hyundai Motor Group and Aptiv Plc to develop autonomous cars might look like evidence that the promised land of self-driving vehicles is closer than we thought. In fact, it’s just the opposite.The deal is certainly more than just fine words. Hyundai will be contributing $1.6 billion in cash and $400 million in services, R&D and intellectual property for its 50% share. Aptiv will hand over intellectual property and 700 employees, and the two promise they’ll have an autonomous-driving platform by 2022. Yet for all of Aptiv’s reputation as a leader in advanced autonomous cars – the sort that may eventually dispense with drivers altogether – it’s worth remembering how marginal that target is to the company’s existing business.Don’t get too excited by that 2022 deadline either. It’s easy to miss that it’s not a promise to have fully self-driving cars in widespread use by that date, but merely the first major step down a road of testing and refinement that will only reach its destination nearly a decade later, as the new venture’s head Karl Iagnemma told an investor briefing in June.At first, vehicles will only be able to navigate tightly defined areas of cities in the best driving conditions, and systems will be based on off-the-shelf components, Iagnemma forecast. Areas of deployment will increase in the second half of the 2020s and bespoke components will result in better hardware, he said, but the point when self-driving cars capable of handling most driving situations start coming out of factories will be further off. “2030 is an interesting period, this is when we see it all coming together,” Iagnemma said.So why commit all this money now? For Hyundai, it’s a decent use of the funds sitting around doing nothing on the balance sheets of group companies. Parts-maker Hyundai Mobis Co. alone had 7.88 trillion won ($6.6 billion) in net cash at the end of June while Kia Motors Corp. had 1.23 trillion won. (Hyundai Motor Co., on the other hand, has 49.55 trillion won in net debt; and Hyundai didn’t specify how the funding for the venture would be split among those three companies.) With the yield on 10-year Korean government bonds slipping to a record-low 1.18% last month, the hurdle rate for improving the return on those funds is remarkably low. For Aptiv, it allows the company to hive off its moonshot plans and focus on the places where it actually makes money. Much of that is in surprisingly mundane businesses like cable harnesses for cars’ internal wiring, as well as more future-oriented activities like sensors and data systems. Only about $943 million of its $14.4 billion revenue last year was in “active safety,” and even that category includes technologies that are relatively routine these days, such as automated collision-avoidance braking and sensors to monitor a driver’s alertness. Those 700 employees being transferred over to the new autonomous unit doesn’t sound quite so impressive when compared with Aptiv’s total workforce of 143,000, of which 25,000 are salaried staff.Considering the fervent excitement of a few years ago – when Tesla Inc. was promising full autonomy by, er, 2018, and a conservative industry stalwart like Ford Motor Co. had a target date of 2021 – the current prospects for self-driving cars look bleak. (Ford is still sticking to the 2021 date but says any vehicles produced by that date will be “geo-fenced” – a fancy way of saying they’ll hardly be able to go anywhere.)That might push the pendulum too far, though. What Hyundai and Aptiv are planning is a foot in the door of developing a software and hardware platform for whatever autonomous-driving technologies eventually emerge.With capital and R&D expenditures over the next five years likely to amount to $50 billion or so at the three Hyundai Motor companies alone, this investment is a relatively modest option on becoming the market leader in that category.The hype has gone out of the driverless car business. Now engineers and designers can get to work on the long task of making vehicles truly autonomous.To contact the author of this story: David Fickling at dfickling@bloomberg.netTo contact the editor responsible for this story: Rachel Rosenthal at rrosenthal21@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.David Fickling is a Bloomberg Opinion columnist covering commodities, as well as industrial and consumer companies. He has been a reporter for Bloomberg News, Dow Jones, the Wall Street Journal, the Financial Times and the Guardian.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.

  • Tesla's Musk pushed for SolarCity deal despite major cash crunch: lawsuit

    Tesla's Musk pushed for SolarCity deal despite major cash crunch: lawsuit

    The filing was part of a lawsuit by Tesla shareholders alleging the company’s board breached its duties to investors by approving the $2.6 billion acquisition of the struggling company, which was run by Musk's first cousins and of which he was a chairman and the largest stakeholder. The former SolarCity operations have been a drag on Tesla, with panel installations slumping since they were acquired. Shareholder lawsuits that survive a motion to dismiss often settle before trial, which in this case might involve a payment to shareholders by Musk as well as money from directors’ insurance.

  • GuruFocus.com

    Jim Chanos: This Berkshire Hathaway-Backed Health Care Company Is an Insurance Fraud

    The veteran short seller takes aim at this dialysis player Continue reading...

  • Will Nio’s Q2 Earnings Disappoint?
    Market Realist

    Will Nio’s Q2 Earnings Disappoint?

    Nio (NIO) is scheduled to release its second-quarter earnings tomorrow before the market opens. Will the "Tesla of China" disappoint?

  • Benzinga

    Today's Pickup: Elon And Jeff: The Best Of Enemies; India Advances National Logistics Policy

    Amazon.com Inc.'s (NASDAQ: AMZN) Sept. 20 announcement that it had placed an order for 100,000 electric delivery vans from Michigan-based startup Rivian could be a shot at Tesla Inc (NASDAQ: TSLA) Founder Elon Musk, writes Jeff Sonnenberg in Market Realist. To date, Rivian has raised $1.8 billion in private funding, a big deal for a company that hasn't deployed any vehicles that counts Tesla as a main rival, Sonnenberg said. The Musk-Bezos rivalry was heightened with the launch of their respective space ventures — Musk's SpaceX and Amazon Founder Jeff Bezos' Blue Origin.

  • Can Tesla Defend Elon Musk’s Pay Package?
    Market Realist

    Can Tesla Defend Elon Musk’s Pay Package?

    A Delaware judge directed Tesla’s board to defend CEO Elon Musk’s pay package in response to a shareholder's 2018 lawsuit. Tesla had requested a dismissal.

  • F, GM, and TSLA: What Do Automakers’ Moving Averages Reveal?
    Market Realist

    F, GM, and TSLA: What Do Automakers’ Moving Averages Reveal?

    Leading automakers like Ford (F), General Motors (GM), and Tesla (TSLA) face bleak business conditions. Ford stock has fallen the most among its peers.

  • Benzinga

    Judge: Tesla Shareholder Suit Targeting Musk's Compensation Can Proceed

    A Delaware judge ruled that a lawsuit by a Tesla Inc (NASDAQ: TSLA) shareholder that alleges CEO Elon Musk’s compensation “unjustly enriches” the charismatic, but controversial company leader, can go forward. Delaware Court of Chancery Judge Joseph Slights on Friday declined to dismiss the suit by shareholder Richard Tornetta, meaning the company’s board of directors will have to defend Musk’s compensation package. Slights found that it is “reasonably conceivable” that the pay plan — which includes no salary and no cash bonuses for Musk, but rewards him based on Tesla’s market value — may be unfair.

  • Judge orders Tesla board to face trial, with billions of dollars at stake for Elon Musk
    American City Business Journals

    Judge orders Tesla board to face trial, with billions of dollars at stake for Elon Musk

    A lawsuit by shareholder Richard Tornetta alleges that the board breached its fiduciary duty in approving the package, that the package amounts to unjust enrichment for Musk, and is waste of company resources.

  • After $5 Billion in Losses, China’s NIO Battles for Survival

    After $5 Billion in Losses, China’s NIO Battles for Survival

    (Bloomberg) -- Sign up for Next China, a weekly email on where the nation stands now and where it's going next.It took Tesla Inc. about 15 years to rack up $5 billion in losses. The company some regarded as China’s Tesla did it in four.And the bleeding continues. Shanghai-based NIO Inc. is poised to report Tuesday that it lost another 2.6 billion yuan ($369 million) — around $4 million a day — during the second quarter, according to the average of two analysts’ estimates. That would bring accumulated losses at the company, which is backed by technology giant Tencent Holdings Ltd., to about $5.7 billion since William Li founded the carmaker in 2014.Cost overruns, weak sales, and major recalls have led NIO to plunge about 74% since its market value hit a record $11.9 billion about a year ago. More broadly, the company’s reversal of fortune illustrates why concerns are mounting that China created an electric-vehicle bubble that may be about to burst.“This year and the next, there’s going to be a lot of card-shuffling for these EV startups,” said Siyi Mi, an analyst at BloombergNEF. “Before, venture capital chased after them, but it’s not the case any more.”NIO’s U.S.-listed shares fell as much as 4.6% to $2.90 shortly after the open of regular trading Monday in New York.Total EV sales in China, where half of the world’s electric cars are sold, fell for the first time in July after the government scaled back subsidies. Deliveries dropped again in in August, raising doubts that one of the final respites of strength in China’s auto market — which has fallen 14 out of the past 15 months — is wavering.China has gradually scaled back subsidies for new-energy vehicles — all-electrics, fuel-cell autos and plug-in hybrids — since 2017 to help the industry stand on its own two feet and avoid a bubble. That’s undermined growth, prompting the likes of top Chinese electric-carmaker BYD Co. to warn recently that earnings will wane.At NIO, pressure is building for the company to raise more funds. The carmaker is seeking to reduce its workforce by 14% to 7,500 by the end of the month. Incidents involving batteries catching fire or spewing smoke forced NIO to recall about 4,800 vehicles — more than 20% of all the cars it’s ever sold. Second-quarter deliveries dropped from the preceding three-month period.The company also scrapped plans for a manufacturing plant in Shanghai after the government opted to provide financial support to Tesla. Instead, NIO farms out production of its ES6 and ES8 cars to Anhui Jianghuai Automobile Group Co.While Tencent and Li each plowed $100 million into NIO this month, the capital-intensive nature of the auto industry means that “this much money won’t last long,” said Bill Russo, founder and CEO at Automobility Ltd., a Shanghai-based auto advisory firm.Li has played down his company’s challenges, saying in an interview in June that NIO’s stock rout was “no big deal” and that investors needed to understand that making new cars costs money.But money is in short supply for the carmaker, which is now counting on receiving as much as 10 billion yuan in funding from an investment firm backed by the Beijing city government.Another looming challenge for NIO is Tesla, which plans to start production in China later this year, allowing the U.S. company to cut prices of its vehicles sold in the country.“NIO didn’t position itself in the right place,” said Yale Zhang, founder and CEO of the consultancy AutoForesight. “I’m not optimistic about its future in the long run.”(Updates with U.S. shares trading in fifth paragraph)To contact Bloomberg News staff for this story: Chunying Zhang in Shanghai at czhang714@bloomberg.netTo contact the editors responsible for this story: Young-Sam Cho at ycho2@bloomberg.net, ;Craig Trudell at ctrudell1@bloomberg.net, Will DaviesFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Could NIO’s Q2 Results Turn Things Around?
    Market Realist

    Could NIO’s Q2 Results Turn Things Around?

    NIO (NIO), "China's Tesla," is scheduled to report its second-quarter results before markets open tomorrow. The stock has seen a massive sell-off since March.

  • Grab Faces Off Against Tesla Taxis in a War of Cabs in Indonesia

    Grab Faces Off Against Tesla Taxis in a War of Cabs in Indonesia

    (Bloomberg) -- Follow Bloomberg on LINE messenger for all the business news and analysis you need.In 2015, the shares of Indonesia’s largest cab company were soaring, while its revenue reached a record high. Then came Uber, followed by Grab and Gojek, Southeast Asia’s answer to the revolutionary ride-hailing app.Competition from the technology titans wiped out $1.7 billion, or almost 80%, of PT Blue Bird’s market value from a peak. Revenue plunged 23% in three years and the latest quarterly earnings fell to a record low. But rather than give up, the 54-year-old cab operator is now seeking to turn the tide. Leading the effort is Noni Purnomo, who succeeded her father in May as president.Four months into her new job at the Jakarta-based company, Purnomo is banking on technology to transform the flagging business her late grandmother started in 1965. Her plans include focusing on electric vehicles made by Tesla Inc. and BYD Co. to cut fleet ownership costs and improve efficiency using data.“We decided to take a huge leap,” Purnomo, 47, said at her office in Jakarta last week. “With this leap, we hope we can address our shortcomings” and catch up with rivals.While sustainability is her immediate priority, Purnomo’s goal eventually is to beat the ride-hailing giants that have upended what was once an industry renowned for its steady revenue and dominated by small owners and families like Purnomo’s. She’s up against Singapore-based Grab, the regional giant that bought Uber Technologies Inc.’s Southeast Asian operations last year.Purnomo’s toughest challenge yet may be convincing investors that her company is here to stay and thrive. Blue Bird’s shares traded at 2,580 rupiah (18 cents) in Jakarta on Monday. They reached an all-time high of 12,500 rupiah in January 2015, months after Blue Bird raised a modest $200 million from an initial public offering.Purnomo has already added about two dozen EVs to Blue Bird’s almost 30,000-strong fleet of cabs that operate in the cities of Java, Sumatra, Bali, Lombok and Batam. Eventually, the plan is to have 2,000 of the zero-emission taxis from Tesla and Chinese maker BYD, she said.EVs may give her company an edge as initial data have shown encouraging signs, she said. The vehicles cost 40% less to operate than fossil fuel-powered cars, and generate 30% more revenue, according to her.Besides, her rivals can’t replicate this model easily, Purnomo said. Their asset-light model would require drivers to bear the financing costs of an expensive EV, a risky proposition for most individuals, she said. A representative for Grab didn’t respond to request for comments.“We have a different business model and the company can take the risk instead of the individual,” she said.Charging StationsThe lack of charging infrastructure in the Southeast Asian country could pose a hurdle. Right now, Blue Bird has facilities at its main office in Jakarta, while there’s one available at the city’s airport. President Joko Widodo‘s government is trying to ramp up charging stations in malls and other public places to help boost sales of EVs.Read about Indonesia’s plan to form electric-car hub Blue Bird will also invest in the internet of things -- an emerging technology that links machines and gadgets and likely to get a boost with the roll out of 5G wireless networks. IoT will help Blue Bird collect data and improve operational efficiency and help implement dynamic pricing, a variable fare model popular with the likes of Uber, Lyft Inc. and Grab.Purnomo said the company now has the technical capability to fight back and the financial resources to challenge them, without elaborating on how she plans to raise capital. On the other hand, Grab has money to burn. Valued at $14 billion, it is planning to raise more than $4.5 billion in its latest funding round.“Gojek and Grab’s low fares have caused a major churn for these taxi companies,” said Kenny Liew, an analyst at Fitch Solutions. “The taxi companies need to look at new business models, even partnerships with ride-hailing players, to stay relevant.”Rival TiesBlue Bird already has an alliance with Gojek, operated by PT Aplikasi Karya Anak Bangsa, that allows its fleet to be available on the Gojek app. While it opens up the customer base, it also has the disadvantage of lower margins, Liew said. Gojek offers both motorcycle and cab rides.A representative for Gojek said the company has also started a pilot project for electric motorcycles and cars in Indonesia. If the vehicles can save costs, that will help drivers, she said in an email.Purnomo started working at Blue Bird in the mid-1990s. Groomed by her father for a key role in the family business, the engineering graduate held positions in maintenance, customer service and sales before taking a break to finish her master’s in business administration at the University of San Francisco.Competition brought about by ride-hailing companies in the traditional taxi business is “nearing equilibrium,” Purnomo said, adding some customers and even drivers who previously left Blue Bird to try rivals have returned.While investors have pummeled Blue Bird’s shares, analysts have been more optimistic. All six tracked by Bloomberg recommend buying it.“The worst appears to be behind them,” said Richard Suherman, an analyst at PT Sinarmas Sekuritas. “Their transformation, including their plan to build up a better technology platform and dynamic pricing, should help their competitiveness and profitability.”\--With assistance from Tassia Sipahutar.To contact the reporters on this story: Fathiya Dahrul in Jakarta at fdahrul@bloomberg.net;Harry Suhartono in Jakarta at hsuhartono@bloomberg.netTo contact the editors responsible for this story: Sam Nagarajan at samnagarajan@bloomberg.net, ;Young-Sam Cho at ycho2@bloomberg.net, ;Thomas Kutty Abraham at tabraham4@bloomberg.net, Jodi SchneiderFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • How Ford Makes Money

    How Ford Makes Money

    Ford is an icon of the American car industry. It makes money by selling cars and financial products that help dealerships and consumers buy and lease.

  • What Makes Tesla's Business Model Different?

    What Makes Tesla's Business Model Different?

    Tesla did not invent the first electric car, but it did invent was the first successful business model for bringing compelling electric cars to the market.

  • Tesla Bear Jim Chanos Shorting Grubhub, DaVita
    Market Realist

    Tesla Bear Jim Chanos Shorting Grubhub, DaVita

    On September 19, at Delivering Alpha Conference, Jim Chanos said Grubhub (GRUB) is a very good short. He said that Guruhub is almost not making any money.

  • Trump, China Bring the Trade War Back, Stocks Crash
    Market Realist

    Trump, China Bring the Trade War Back, Stocks Crash

    The Chinese delegation canceled planned goodwill visits to US farms because of trade war escalations. This affected markets yesterday.

  • Oilprice.com

    Amazon Makes The Largest Ever Electric Vehicle Purchase

    Jeff Bezos has just placed the largest ever electric vehicle purchase order with a statup called Rivian Automotive, a company looking to rival Tesla

  • Elon Musk’s Twitter Magic is on Despite SEC Troubles
    Market Realist

    Elon Musk’s Twitter Magic is on Despite SEC Troubles

    Tesla (TSLA) CEO Elon Musk is one of the most widely followed billionaires on Twitter. His love for Twitter is no secret.

  • Delaware judge says Tesla board must face trial over Musk's mega-pay package

    Delaware judge says Tesla board must face trial over Musk's mega-pay package

    A Delaware judge ruled on Friday that Tesla Inc's board of directors must defend at a trial Chief Executive Elon Musk's multibillion dollar pay package, which a shareholder lawsuit said unjustly enriched the head of the electric vehicle company. Tesla estimated the 2018 compensation package was worth $2.6 billion when it received stockholder approval in March 2018, although stock analysts at the time said it could be worth up to $70 billion if the company - which has yet to post an annual profit - grew quickly. The compensation award includes no salary or cash bonus for the Silicon Valley billionaire Musk, but sets rewards based on Tesla's market value rising to as much as $650 billion over the next decade.

  • Amazon’s Rivian Deal: Is the Musk-Bezos Rivalry in Play?
    Market Realist

    Amazon’s Rivian Deal: Is the Musk-Bezos Rivalry in Play?

    Jeff Bezos announced that Amazon had placed an order of 100,000 electric delivery vans from Michigan-based startup Rivian.

  • China's Tesla Under Mounting Pressure

    China's Tesla Under Mounting Pressure

    Sep.24 -- It took Tesla Inc. about 15 years to rack up $5 billion in losses. The company some regarded as China’s Tesla did it in four. And the bleeding continues. Shanghai-based NIO Inc. is poised to report Tuesday that it lost another 2.6 billion yuan ($369 million) — around $4 million a day — during the second quarter, according to the average of two analysts’ estimates. Bloomberg's China correspondent and anchor Selina Wang has the story.

  • China’s Tesla Battles for Survival

    China’s Tesla Battles for Survival

    Sep.22 -- It took Tesla Inc. about 15 years to rack up $5 billion in losses. NIO Inc., the company known as China’s Tesla, did it in four. Emma O'Brien reports on "Bloomberg Daybreak: Asia."