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Thread: Tesla Megathread (was Just lost $40k USD on Tesla options)

  1. #1
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    Default Just lost $40k USD on Tesla options

    Just lost $40k USD on Tesla options and need somewhere to vent since I don't have any trading buddies.

    Everything was looking perfect for me to get out a day before their secret press conference on April 30th. Then, for reasons still unexplained, they ruined the surprise on their own press conference by intentionally confirming what they'd be announcing in an email to investors. Stock spiked early and wiped me out.

    Who does that?!!!! It's like planning a dinner to announce your engagement and then texting all your guests a week before "Guys we're engaged. See you at dinner"

    Arrrrrrgghgghghghghgh

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    they are up $11?

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    Originally posted by eglove
    they are up $11?
    ^

    You can structure options so that you win as long as the stock stays within a certain range. When it exceeds that range, you lose.

    All of Tesla's past mystery conferences have locked the stock within a range leading up to the conference due to the uncertainty of the reveal. Only AFTER the reveal does the stock move up or down based on it living up to the hype or disappointing. In this case, because they sent out an email, the stock moved before their announcement and broke out of my range causing me to lose. I've always closed the trade and taken a profit the day before the announcement so there's no chance of it exceeding my range.

    My range on this trade was 190 and 220. It was perfectly hovering around 205ish up until the email yesterday and now it broke my 220 upper limit.
    Last edited by RedDawn; 04-22-2015 at 12:37 PM.

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    You can't lose what you don't own. It is the human condition to feel as though you did. In 2008 I owned over 10K shares of Apple at $11ish, sold at I think $22 and thought I was a genius and as 2008 was a very good year I figured I was about to enter a new career with my mad money skills. Today what I feel is a loss, I left a wee bit on the table had I carried it to today.

    TSLA I am too positively biased to invest in.
    Last edited by CanmoreOrLess; 04-22-2015 at 12:51 PM.

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    What % of your portfolio are we talking about? 40k in a 1m$ margin account is 4%.

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    Originally posted by CanmoreOrLess
    You can't lose what you don't own. It is the human condition to feel as though you did. In 2008 I owned over 10K shares of Apple at $11ish, sold at I think $22 and thought I was a genius and as 2008 was a very good year I figured I was about to enter a new career. Today what I feel is a loss, I left a wee bit on the table had I carried it to today.
    This isn't an unrealized gain that I lost leaving me back with 0 gain but my principal intact. I lost all my gain and 40k in principal.

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    Originally posted by RedDawn


    This isn't an unrealized gain that I lost leaving me back with 0 gain but my principal intact. I lost all my gain and 40k in principal.
    Sorry about that, I feel your pain. Your plan was good, you need to remember that going forward. At some point you'll have walked it off. It might take a while, depends on many things.

    Any historical record of Musk and his companies playing these dirty tricks in the past?
    Last edited by CanmoreOrLess; 04-22-2015 at 12:58 PM.

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    Good lesson for all you traders and investors out there. There's a big difference between buying shares in a company that has underlying (albeit fluctuating) value, and buying options.
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    I'm glad this is such a safe space full of support and encouragement.

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    .
    Last edited by know1edge; 08-16-2018 at 10:06 PM.

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    Sorry to hear dude. What was the upside potential if it stayed within your range?

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    maybe should have considered a straddle....

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    ...
    Last edited by Sugarphreak; 08-13-2019 at 09:02 PM.

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    Shitty.

    You win some and you lose some. Hopefully you can see some more wins in your future.

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    makes me feel better about my $8k loss last week

    wasnt tesla though... 3 separate contracts expired at a loss

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    Originally posted by in*10*se
    maybe should have considered a straddle....
    A straddle would only be appropriate if the intent was to hold through the announcement. That wasn't my plan. I was supposed to be out the day before the announcement.

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    Playing on NRs is risky business.

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    nm
    Last edited by e36bmw///; 03-05-2018 at 11:02 AM.

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    As shitty as this is to hear, it's a good reminder how unpredictable the stock market can be no matter how in-the-know you are.

    Sorry to hear man, hopefully a speedy recovery.
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    Originally posted by e36bmw///
    How big was the position and when does it expire?
    Why not roll the short call position, assuming you did a short strangle
    Iron condor expiring May 1st.

    Stock is way too unpredictable now to gamble on rolling out the short calls. Given the news that was released, Tesla may generate more revenue from batteries than cars in the next year. Once the investment banks update their models and buy into their positions pre-announcement, no telling how high this could run before the official details are released on the 30th.

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    Win some lose some its part of the game.

    But, if this is a really big loss for you, then I'd say you aren't managing your risk properly. Getting pinched for an uncomfortably large % on a position that expires is a mistake I only had to make once.
    On Sabbatical

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