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"End Of The Day" Friday Option Trading On Tesla

Back on April 2nd I did a blog called "Two Hour End Of Week Option Trading on Tesla". In that blog it was noted that Tesla dropped in price starting at 1:30 p.m. and 42 minutes later it was $5.95 lower in price, approaching the "must-get-out" at 3:00 p.m. mandated option deadline. Put option buyers getting in around 2:00 p.m. did well on their investments. (The stock was down $20.67 on the day). Here was it's chart on that day. It was a Thursday with Friday being Good Friday. Now let's fast forward to today's action, it being the following Friday. Tesla options had a tough start to the day. Here an example of what I am talking about. Look at the 347.50 series of Calls at 12:34 p.m. Are you able to see how they are down in price on the day? Now this. A look at how these same options closed out the day. They charged back upwards towards the close. The $140.00 option price we were looking at below is actually a 4:00 p.m. readout. This chart shows Tesla ...
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The Relevancy Of Option Trading In These Uncertain Times. Caterpillar And Exxon

Look at the volume of trading in Caterpillar Calls on a Friday morning on slightly "in-the-money" Calls options twelve minutes into the trading session. These are Call options that expire at 3:00 p.m. today.
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This options are $1.33 "in-the-money" and look at how wildly this stock traded on the previous day. Caterpillar has approximately 465 to 466 million shares outstanding. One would think that there would be thousands of shareholders engaged in "covered Call writing" strategies. Apparently not. The open interest number in these Calls is 27. Why? It's all become to much of crapshoot. That's the reality of our times. The good news is that some traders are still capitalizing on the realities of these crazy times. Case in point are Exxon options. How many more bombs are going to be dropped over the weekend? Look at these Exxon Call options on the opening this morning.
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Getting in on Thursday before the close knowing that Friday mornings would cause this worry was one way to go. All of this upward action happened in the first ten minutes of trading. ** Caterpillar closed down the day $7.77.
Very few traders caught the action in the Puts. Option traders are walking away from trying to trade in these markets.

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