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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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Carvana Again. It's Mid Week And Will It Get Nervous again?

What do we see here? Carvana is up $12.00 in the first hour of trading.
It's 10:27 a.m. and these Puts are like $10.00 "out-of-the-money". There is support at the 310 price level. Carvana is known to do crazy things. Might there be an afternoon gain to be had here? Let's see what happens. It's 11:32 a.m. and there has being a slight drop. Here is the chart.
In my usual fashion I would say just get out. $4.70 to $7.20 in just over one hour.
Now it's updated five day chart.
Who cares what happens next? *** With less than 30 minutes in the trading session the same opportunity with the same series of 320 Puts has presented itself again.
......
There is one diffence. It's missing the early morning "up-to-quickly-surge" it had this morning. For that reason alone everything is different! Here is how Carvana closed out the week.
Anyone bold enough to buy into these "out-of-money" Puts in the morning on Friday at their lows of the day were well rewarded.
It's easier to write about this kind of stuff after it happens than before it happens.

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