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Tesla - One Day Options. Not Your Typical Read

This blog is going to be a tough read because it tries to track Tesla's early morning option trading in the last day of trading in the October 18th 220 series of Tesla Calls. Critics of "one day" options are having a hayday in pointing out these "one-day-to expiring" options are a mockery to concept of sound financial investing. Here is Tesla's premarket trading price in the 220 series of Calls at 9:29 a.m. on Friday Oct. 18th. They are flat. Remember last Friday was an exceptional day for the Tesla stock with it being hit with a $21.14 drop on the day. Do today's traders remember this? Probably not. Why should they? It's a given this stock can be volatile. Option traders playing the downside last Friday on Telsa made out like bandits. Now it's 9:31 a.m.reading. Up only eleven cents. Option traders are in a period of time where they have to deal with early morning trading jitters. Is there a glimmer of hope that this stock might bounce up one
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Sundial and the Lazy Way To Play The Markets

In a blog of May 8th I talked about the bizarre number of shares outstanding in Sundial. It has 2.4 billion shares outstanding and the company is sitting on over one billion dollars in cash. Thats crazy for a penny stock. Back in late 2020 it was a meme stock and traded upwards of three billion shares per day! Now its a stock some traders use when the markets are extremely oversold and bounce 500 points on an opening like it did this morning.
Look at this mornings action.
Over 33 million shares trade by 10:49 a.m. in the morning. A $30,000 investment on Friday would be worth $34,000 this morning. It may sound like a crazy way to try and make money however the liquidity is there. As for options on this stock there are some however they start with a striking price of $.50 cents and then $1.00 and $1.50. What that means is that many of these series are to far "out-of-the-money" to be playing. Once again, this is a playable stock in extreme oversold positions like we witnessed today. Yet playable in simply purchasing the stock and now the options on it. Stocks in this price range often stay dormant for years. Read my May 8th blog. Having a legacy of being a meme stock helps to give this stock an unusual status.

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