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Tesla Calls On A Tuesday That Expire the Next Day

Would you play one day "out-of-the money" options on a series of Calls that are already down 75% on the day and expire the next day? Seems kind of stupid right? I am talking about Tesla. Tesla trades on the Nasdaq which is taking a beating. Why buy in here at this particular period of time when the support levels on it are still few dollars lower? Why buy Calls with only 1.5 trading days life left in them? Well at 1:00 p.m. the afternoon portion of the market is about to begin and these options are trading at their lows of the day. "One-day-option-traders" have to think in terms of what might happen in the next two hours or so. If a rebound happens in the next two hours just get in and out. These types of option traders take risk on chart patterns that have yet to make reversals. It's can be a lonely and expensive game to play and if the desired results do not pay off one must quickly revert to different strategies. How the closing chart looks today will hop...
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Boeing Has Gotten Expensive Lately

 It might start making money again. Here is it's five day cart.

On Monday May 22th  the markets jumped up over 800 points and Boeing was down. Monday was May 27th.  Here is Thursdays chart.
If you look at the chart you can see some traders got in on the opening on Call options near the previous day's closing price. Then these Calls jumped up explosively on the day.
Why it happened. Well their CEO made a speech. He stated that the company is making a come back. Why the stock didn't open a few dollars higher the following morning rather that having a limp opening is something I don't know.

Is it to late to play it for a continued rebound tomorrow, a Friday? Here is how the $202.50 Calls closed the day which is a Thursday. The "open interest" number is fairly high.
Now the $207.50 Calls which are just a touch "out-of-the-money" Calls.
It was good news that caused this stock to go up. If the market opens stronger these "one-day-out" options could open stronger. Here also is a look at the slightly just "out-of-the-money" Puts. The Puts lost 80% of their value on the day as the stock was up $6.68 on the day.
What's my take on things? If Boeing was up only a dollar or two on Thursday these one day Calls would be interesting. Given it's $6.68 price  increase on the day it would seem a stretch to have the stock jump even higher the following morning. I wouldn't be betting on it going up on the day, nor betting on the Call going down. With Thursday's unusual action it is now to difficult to call. Here now is it's five and  thirty day charts. I would just stay away.

Let's see what Friday's action brings. here is how these options closed the week.

The last chart shows how the Calls traded on the day. Yes the Calls and Puts are  tradable  intraday however that's another story which calls for some devotion.
 

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