Elon's plan to sell 10% of his shares in Tesla...

[Crissa]

...Just by coincidence, perhaps, he has expiring options this quarter that amount to 10% of his stake in Tesla.



-Crissa

 

[Ogre]

The Twitter poll was always a head fake to control the narrative. Musk talked about selling shares months ago when Kara Fisher asked him about it at Code Conf.

 

[DarinCT]

I thought that officers of a corporation had to announce these things to the SEC way in advance. TIL: they only need to announce within 2 days of the transaction.

 

[Ogre]

Well it certainly seems like he actually did it all in one giant push.

Shaved about 1 BMW off the market cap. I kind of gambled hard that things will bounce back. Nothing that’ll break the bank, but my smaller options trading account might get a hard shave.

 

[Ogre]

I thought that officers of a corporation had to announce these things to the SEC way in advance. TIL: they only need to announce within 2 days of the transaction.

Posting it on Twitter counts as announcing it. I think? Maybe?

I can’t recall an executive ever dumping this many shares in one big shot.

 

[John K]

Posting it on Twitter counts as announcing it. I think? Maybe?

If I have an alcohol induced dream, it counts as an official announcement.

 

[Ogre]

Actually, we’re not even sure this is Musk selling. Could be someone front-running Musk and the bad day might be ahead of us. You’ll know that’s the case because you’ll see me weeping.

 

[CyberT]

Well it certainly seems like he actually did it all in one giant push.

Shaved about 1 BMW off the market cap. I kind of gambled hard that things will bounce back. Nothing that’ll break the bank, but my smaller options trading account might get a hard shave.

I gambled a little too and waited throughout the day to drop to my limit price of $1032 and was only able to pick up 2 shares. In another account, I got too greedy and set my limit to $977 knowing that the price would have major resistance at $1000 and wouldn't drop below but I wanted 3 shares instead of 2 lol.

All in all, this is what I was expecting so far this week. I told all my family and friends that Tesla would pull back to around $1000 and be ready to buy. I had ONE person listen to me and buy.

 

[Ogre]

I gambled a little too and waited throughout the day to drop to my limit price of $1032 and was only able to pick up 2 shares. In another account, I got too greedy and set my limit to $977 knowing that the price would have major resistance at $1000 and wouldn't drop below but I wanted 3 shares instead of 2 lol.

All in all, this is what I was expecting so far this week. I told all my family and friends that Tesla would pull back to around $1000 and be ready to buy. I had ONE person listen to me and buy.

I bought some vertical spreads with short expirations.

If Tesla finishes above 1025 on Friday, my first one hits for about 80% return. So long as it finishes over $1010 I break even. If it finishes the week below $1000… unhappy Ogre.

If we hit that, then I have a couple other bets placed for next week and Dec 3.

It’s an experiment. In my options trading account… fortunately betting house money so to speak Right now.

 

[Ogre]

After hours rethinking that decision. Ah well. We’ll see what the rest of the week brings.

I should know better than trying to catch a falling knife.

 

[Eye of Elon]

I bought a couple shares today, maybe I picked up share owned by Elon himself.

 

[Quicksilver]

This is the guy that convinced me to invest in Tesla.
Even with the drop today (12%) I'm still over 10K to the good.
I just wish I had 100K to buy Tesla with today.
I'm reminded of a scene from "It's a Wonderful Life" starring James Stewart.
There is a run on the banks and George Bailey (Stewart's character) is the owner of a small savings and loan company in Bedford Falls.
His nemesis is Mr Potter who owns the town bank and most everything else.
Potter tries to get George to sell him the savings and loan when he thinks George can't cover his liabilities.
Potter realizes there is a buying opportunity and that getting the savings and loan would give him almost total financial control of Bedford Falls.
George rebuffs Potter's offer and manages to stave off financial ruin of the savings and loan.
The lesson was that by remaining cool when everyone around you is losing it you can prevail.
I bought Tesla for the long haul and if I can buy my CT without selling any of my shares I will.

 

[CyberT]

I bought a couple shares today, maybe I picked up share owned by Elon himself.

I picked up 2 more shares this morning in pre-market @$1004.20. I'm pretty sure those were from Elon

 

[DarinCT]

Posting it on Twitter counts as announcing it. I think? Maybe?

I can’t recall an executive ever dumping this many shares in one big shot.

Within 2 days of the transaction, so not even a forewarning, the individual needs to file a form 4 with the SEC. For example, Elon's brother sold $115 Million in stock prior to Elon's twitter poll.

You can check out all the reports on EDGAR on the SEC website.

https://www.sec.gov/edgar/search/#/...Tesla%2C%20Inc.%20(TSLA)%20(CIK%200001318605)

 

[Ogre]

Well that was a lot of excitement before breakfast.

Tesla has recovered half of the loss from the other day. Rest of my portfolio is beaten up though.

Looks like my short term bet is going to pay off well.

EDIT: Went ahead and closed most of it. Nowhere near the max profits I was talking about, but the whole market is weird right now and it’s not clear if the selling is done. Happy with a nice little ~50% gain.