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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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Caterpillar Jumps Like $30.00 On The Opening

Here is it's chart.
Nobody used options to play it. The stock opened stronger.
Now what? The Puts? Ten contracts have traded in the 707.50 series.
. Why aren't more traders attracted to this situation? Why haven't ten or fifteen thousand contracts on this series traded so far this morning? Sure it's dangerous however the potential to make money on this trade is huge. Over the next few hours or days Trumph will mess up again and say something stupid. He is the most powerful man in the world. Let's see what happens. Now this only fourteen minutes later.
Look at the wide spread in the "bid-and-ask"? Nervousness is in the air. Now this, a look at a lower series of Put options, the $700.00 series.
When I see 100 contracts traded I get suspicious. A bigger fish is also playing these options. That doesn't matter. Going solo can be a lonely game. Let's move forward to 12:15 p.m..
Let's go back to the 707.50 series of Puts and look at how it is trading at 12:49 p.m.
I would say just get out.
I would say getting in at $13.90 and out at 20.89 is good enough when it starts to look like the stock might decide to go sideways. Here is how the markets and these Puts closed the day.
Take your profits when you see them. Tomorrow is a new day.

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