Seriously feel bad for whoever wrote the things. The sick part is the puts have barely moved. This could easily go more tomorrow if it doesnt tank EOD. $30 lottos would be worth about $12,000 so far
I was never one to buy options -- never really saw the point -- never let myself get into that lottery frame-of-mind. But I *do* buy lottery tickets on occasion -- as per when the expected value is positive -- and even then, I don't buy it to win, but just to laugh and dream, between the purchase and the drawing. (Easily worth a dollar, right? Sheeesh, yeah.) Well, TSLA has GOT to be an exception here. I mean, don't you wonder, just how many guys (GOT to be guys) bought twinkies at a dime, and 3-4 days later, they're worth $5 EACH. And the buyers are KICKING themselves "Owwwwww GOD but why didn't I buy more?!?!?" Meh! It's to laugh. It's all to laugh. It'd be great, though, if that Beep-Beep-Beep sound I hear out back was a Brinks truck backing in with a load of cash for yours' truly. Yeah. That'd work for me......
which strike and expiry are you talking about? You need to buy a lot of $30 to catch the move unless your timing is impeccable
Puts seem ridiculously expensive at the moment. 1 option with a strike far away at 600 is still about $9 = $1000 total.
There will probably be a liquidity bubble soon. MMs don't want to be directionally biased and no one wants to hold short TSLA. Nothing about the stock feels right. Absolutely nothing.
Some of them are covered calls, so no reason to feel bad for them. They are getting a good return too...