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Tesla Calls That Expire In 55 Minutes At The End Of The Week.

First it's five day chart going into Friday's mid afternoon. It's January 2nd on a Friday. Is it time to make another trade to end your week? How stupid can you be? That's one way to look at it. You can see it jumped upwards on the opening (up like to $20.80) and then lost that gain. On the surface it appears that there there is no quick way to make money on this situation. If there was everyone would be playing them. Hold that thought. Look at these Calls which now expire in 55 minutes (for retail traders on Friday's last day to expiring options expire at 3:00 p.m. and not 4:00 p.m.) and look at the open interest number from the previous day. Why does it only read 290 contracts. Doesn't that number seem small? Well it has to be remembered that yesterday the stock closed just over $12.00 higher in price so these were at that time expensive "in-the-money" Calls at the start of the day and Call holders where hoping for a quick bounce ...
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I Wonder How The Back Office Is Going To Handle My Complaint

The blog is about dealing with the back office of the brokerage company I trade with. This story happened today. Todays trading session has closed and I just made a telephone call to them just after the market closed to voice a complaint over how I feel I got short changed. Here are my background notes. 1) It involves trading the 370 Boeing Puts that expire at the end of this week. I bought in at 10:08:34 a.m. and sold out at 2:59:38 p.m. I was stuck in this position longer than I had hoped. I got lucky and did O.K., however that is not the point. 2) Here are my two "in-and-out" tickets. Two contracts in at 10:08 a.m. at $163.00 each and two contracts out then "at-market" for $365.00 each at 2:59.38 p.m.
Now here is Boeing's one day chart. It dropped precipitously from 2:59:00 p.m.to 3:00:p.m. I just happened to be watching it at the exact time of the crash.
That's when news came out that the "FAA opens Now a Boeing Inquiry over 787 inspections". What wonderful news for me! 3) So my fill once again was for $365.00 on each of my two contracts at 2:59.38 p.m. 4) How do you check to see what the options were trading at at the exact time of my sell "at-market" order? Off I went to Yahoo Finance and this is what I was able to discover.
It looks like at 2:59 p.m. they were trading for $450.00 and when I was looking at the screen seconds before I placed the order the bid was for more than that but I can't prove it. Bid $475.00 and ask $550.00 stands out in my mind. What I do know is the following. My fill as shown on the ticket was closer to 3:00 p.m. than it was to 2:59:00 p.m..
The readout at 3:00:00 p.m., courtesy once again of Yahoo Finance. It shows these options trading at $670.00. 4) The fellow I spoke said they would do an inquiry and get back to me within 1-3 working days. I hate to say it but I am not very hopeful. ** The expected call in from the brokerage office on the following morning. They said, they have checked around and the two trades prior to mine where at $239.00 and $280.00. They checked a Bloomberg tape and something else. I asked for ten free trades. They said no. Sometimes in life you just have to let things slide. Welcome to swimming in a sea of sharks.

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