So basically there are these things called 0dte options which expire worthless on the same day u buy them. Last Thursday my 0dte options went up 1000% in value when Tesla dropped by 10 percent LMAO. Basically its free money at this point to buy tesla puts that expire a week out from now or a month from now at open(9:30 no later not even 9:31). Teslas largest manufacturing plant just closed indefinetly and it was announced Saturday. So it’s literally free money to buy weekly’s puts around 100 strike price. Tesla the company is done for and this is one of the very few opportunities to make dhit loads of money with little risk I shorted Luna and made thousands during the crash. I also shorted usdn and made thousands of that as well. I’m basically a career hater investor and it’s worked out well. If enough people do this elon is literally going to go bankrupt in the coming weeks. Then he will be gone from twitter. I will post my positions Tuesday. Doubling down on my monthly’s on Tuesday at open. Wish me luck. I am doing this for the benefit of society as well as to get to be a neet and never work again:D. If you follow my advice for the love of Christman sell when ur 300% up. That’s my price target atm then I’m gone
Edit: btw don’t panic sell if it goes up. Friday it shot up from 122 to 128 in 5 minutes and my puts lost 70% of their value just like that. And then 10 minutes later it was back down to 122. Don’t sell for a loss. If you go to insiderviz.com u can see the mass exodus of Tesla insiders dumping their shares. Any upwards movement is a scam wick designed to trap the stupid Tesla bulls. Don’t paper hand. Hold it and you will be greatly rewarded. Ofc sell somewhere between 300%-1000% gains. Past that is just pure greed. The dead cat bounce is very possible at these levels. However if you buy monthly’s this is completely avoided and you destroy elon as long as you don’t paper hand.
I ain't reading all that. I'm happy for u tho. Or sorry that happened
Yeah, from what I understand (very little) gambling on options is quite dangerous because you can lose more than your bet.
Usually I wouldn’t advise ppl to buy any options they are generally a scam. However elon is on the hindenberg with Tesla as well and it’s worth to bet against him. I shorted Luna for the same reason. Very rare opportunity to bet against him while Tesla still has 400 billion in marketcap. If I get fucked so be it but I believe in milking the Tesla cow dry and drinking elon tears. Will post updates about it on Tuesday with my positions and the results.
Isn't the IV on these options absurdly high at this point?
Depends on ur perspective. They just lost their largest manufacturing plant in the world indefinetly lol on Saturday. The stock is yet to react to this. Elon can’t even manipulate the price anymore with his stupid words it just gets eaten up. Look at thursday aftermarket when he spoke on it tried to pump the price and failed. There’s much bad news to come after this monumentally bad news that just dropped that hasn’t been responded to yet. Weekly’s I agree dangerous. But monthly’s or expiration a couple months ago are going to print money. IF you believe the worst of the news has already happened sure. IV crush high. If you believe the worst is yet to come, I mean look at how they just closed down their largest plant and reduced prices 7500 dollars in desperation, and think things will get worse from here news wise. IV crush actually relatively low to the potential future catastrophic news.
Maybe. Its never a sure thing. I remember buying some puts on Nikola and it took way too long for the market to finally let that one die.
Of course it’s not. It’s just a good risk I’m willing to take. Look at the hedge fund that got liquidated shorting Luna on a scam wick with too high leverage. Anything bad can happen. I just view this as a great opportunity and I’m totally fine with losing my investment in it ultimately. F to ur nikola puts. I lost a lot of money shorting sol for a while too even tho it’s a clear scam lmao
Oh hey I remember you from posting about stonks several months ago.
I suspect if you were to show screenshots demonstrating how you've been progressing over this time, several of us might be inclined to join you on your exploits of economic schadenfreude.
Yeah it’s actually kind of dumb as hell. You can be a communist and just bet against everything captialism and have it work out for you in 2022. Who knows what next year holds tho.
I suppose there will always be reasonable bets to make, to some extent.
This is pretty great. Glad you’re making money doing nothing like this. Lol. I will try to look into this.
Where do i buy/make the 0dte puts at? Robin Hood or something?
Also i think it’s only responsible to talk about what happens if it does go up. Do you end up owing money? Money that you potentially don’t have?
Yeah u can do robinhood but be warned 0dte puts are basically scratch offs and are worthless if Tesla goes up or stays neutral. Weekly’s or monthly’s a lot safer. However 0dte puts can easily 10x ur money if Tesla goes down 10% or more in a day. Also if u have 0dte puts u gotta sell when ur up because they are worthless by the end of the day, Basicallt the closer to expiration the option is the more you’ll make on an intraday drop. Inversely if it doesn’t drop intraday or weekly you lose all ur money with 0dte puts. That’s why they called 0 days till expiration. With weekly’s or monthly’s tho it’s not the end of the world of the trend downwards continued.
So upon further reading I’ve found that you can lose more than you put in with options, with no apparent limit on what you would owe, which makes option trading look totally insane to me.
Teslas largest manufacturing plant just closed indefinetly and it was announced Saturday.
Hadn't heard about this, fantastic news!!
I've never invested before (red flag) but I've thought about the ethics of this. I wanted to borrow some money from wealthy relatives and short tesla stock back in the summer. I don't know exactly how it works, but at this point it's obvious I would have come out on top if I had gone through with this. I googled "does shorting stocks destroy capitalism" and found a bunch of articles from like 2008 pleading with people to stop doing this to save the economy. As Marxists all we need to do is target over-valued meme stocks and we should come out on top, reinvesting some of the money in shorting other meme stocks while also donating to mutual aid.
edit: if there's a big stock market selloff in the coming weeks the government will probably just bail out companies like tesla, in which case we would be fucked.
If you bought put leaps over the summer you would’ve easily 100xed ur money. Sorry mate
Oh great :reddit-logo: 's WallStreetBets is leaking into Hexbear.
