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Tesla is Down About $20.00 In Pre-Markets On A Friday Morning After Losing $20.00 On The Previous Day

Here it is.
A bid now of "383.60 ask $383.70". It's unusual the spread it so tight making it in theory a good time to make an "at market" trade. I would be more inclined to purchase a $390.00 series of Puts and bail thirty minutes or so after the opening. It's 7:57 a.m, as I write this. In the past I have witnessed these exaggerated premarket declines shrivel up to near nothing as the opening bell approaches. Is that going to happen this time? Tesla now at 8:36 a.m. in the premarkets.
Now at 9:20 a.m. things have not changed. That is a strong indication that things are not going to get better. Other stocks are set to open lower after yesterdays big decline. Even getting into the Puts now "at-market" would be something to consider. This is the real crunch time.
Now the premarket at 9:29 a.m. The markets will be opening in less than one minute. Not much of an improvment. No jump upwards is in sight.
Now this.
Really? Watch now what happened. The stock dropped over $9.00 on the opening.
Now we must move forward and consider whay might happen to it's Calls. The stock is now rebounding as you can see and some lucky traders just got it for a rebound at $2.17 and could in theory now be getting out at $4.11.
At 9:51 a.m. they continue to go up.
I would say get out here and don't worry if you ended up selling yourself short in the process. **** Now a 10:14 a.m. update.
I was shortsighted in my thinkings. Sometime between 9:51 a.m and 10:17 a.m. these Calls went up to $10:30. *** Now this. another suprise twenty three minutes later. They doubled in price since the last reading.
I will come back to this blog at the end of the trading session with some end of day reflections. As stated recently, few readers like reading blogs on trading last day to expiring Telsa options. They do make for an exhausting read.

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