Equity markets are overheating as a consequence of a loose Fed, notQE repos, and earnings boosted by (one-off?) US fiscal stimuli. $AAPL and $TSLA are the poster children of this environment. Valuations are stretched, yet investors see little alternative in equity exposure. (1/n)
$TSLA in particular is in the middle of an aggressive repricing, as their China move pays off and sales exceed expectations. Traditionally both a Robinhood-held newbie stock and a heavily shorted stock, squeezes can be violent. (2/n)
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$TSLA is +15% in 2 days. Excessive exuberance creates opportunities. JAN31 990 CALLs (73% out of the money) are being bid around 0.40. This is ridiculously expensive and a good writing opportunity. (3/3)Prikaži ovu nitHvala. Twitter će to iskoristiti za poboljšanje vaše vremenske crte. PoništiPoništi
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asymmetric bets.
risk aversion.