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2021-05-13

Thinking of getting Tesla stock but reconsidering

Tesla: Beware Of The Unwinding Of The Gamma Squeeze

2021-05-13

Is it really for the environment? Felt cautious about the whole grand scheme of things.

Elon Musk says Tesla will stop accepting bitcoin for car purchases, citing environmental concerns

2021-05-13

Is it really for the environment? Feel cautious on the grand scheme of things!

Elon Musk says Tesla will stop accepting bitcoin for car purchases, citing environmental concerns

2021-05-10

Super excited about their financial results!

@阿里巴巴集团:Alibaba Group Will Announce March Quarter 2021 and Full Fiscal Year 2021 Results on May 13, 2021

2021-05-08

Great ariticle, would you like to share it?

The real story of the Trump-Facebook saga

Go to Tiger App to see more news

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Feel cautious on the grand scheme of things!&nbsp;","listText":"Is it really for the environment? Feel cautious on the grand scheme of things!&nbsp;","text":"Is it really for the environment? Feel cautious on the grand scheme of things!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/191855556","repostId":"1123539919","repostType":4,"repost":{"id":"1123539919","pubTimestamp":1620863433,"share":"https://ttm.financial/m/news/1123539919?lang=&edition=fundamental","pubTime":"2021-05-13 07:50","market":"us","language":"en","title":"Elon Musk says Tesla will stop accepting bitcoin for car purchases, citing environmental concerns","url":"https://stock-news.laohu8.com/highlight/detail?id=1123539919","media":"CNBC","summary":"TeslaCEO Elon Musk said Wednesday on Twitter that Tesla has \"suspended vehicle purchases using bitcoin,\" out of concern over \"rapidly increasing use of fossil fuels for bitcoin mining.\". The price of bitcoin dropped about 5% in the first minutes after Musk's announcement.In an SEC filing in February, Tesla revealed that it bought $1.5 billion worth of bitcoin and it may invest in more of bitcoin or other crypto currencies in the future.At that time, the company said it would start accepting bitc","content":"<div>\n<p>TeslaCEO Elon Musk said Wednesday on Twitter that Tesla has \"suspended vehicle purchases using bitcoin,\" out of concern over \"rapidly increasing use of fossil fuels for bitcoin mining.\"\nThe price of ...</p>\n\n<a href=\"https://www.cnbc.com/2021/05/12/elon-musk-says-tesla-will-stop-accepting-bitcoin-for-car-purchases.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Elon Musk says Tesla will stop accepting bitcoin for car purchases, citing environmental concerns</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nElon Musk says Tesla will stop accepting bitcoin for car purchases, citing environmental concerns\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-13 07:50 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/05/12/elon-musk-says-tesla-will-stop-accepting-bitcoin-for-car-purchases.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>TeslaCEO Elon Musk said Wednesday on Twitter that Tesla has \"suspended vehicle purchases using bitcoin,\" out of concern over \"rapidly increasing use of fossil fuels for bitcoin mining.\"\nThe price of ...</p>\n\n<a href=\"https://www.cnbc.com/2021/05/12/elon-musk-says-tesla-will-stop-accepting-bitcoin-for-car-purchases.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://www.cnbc.com/2021/05/12/elon-musk-says-tesla-will-stop-accepting-bitcoin-for-car-purchases.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1123539919","content_text":"TeslaCEO Elon Musk said Wednesday on Twitter that Tesla has \"suspended vehicle purchases using bitcoin,\" out of concern over \"rapidly increasing use of fossil fuels for bitcoin mining.\"\nThe price of bitcoin dropped about 5% in the first minutes after Musk's announcement.\nIn an SEC filing in February, Tesla revealed that it bought $1.5 billion worth of bitcoin and it may invest in more of bitcoin or other crypto currencies in the future.\nAt that time, the company said it would start accepting bitcoin as a payment method for its products.\nSupport for cryptocurrency from Tesla contributed to the prices of cryptocurrencies, including bitcoin and dogecoin, skyrocketing in recent months.\nHere was Musk's full announcement:\n\"Tesla has suspended vehicle purchases using Bitcoin. We are concerned about rapidly increasing use of fossil fuels for Bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel. Cryptocurrency is a good idea on many levels and we believe it has a promising future, but this cannot come at great cost to the environment. Tesla will not be selling any Bitcoin and we intend to use it for transactions as soon as mining transitions to more sustainable energy. We are also looking at other cryptocurrencies that use <1% of Bitcoin's energy/transaction.\"\nMainstream investors and some corporate buyers including Tesla,Square,Metromileand Nexon haveflocked to bitcoin, viewing the digital currency as a potential inflation hedge while central banks print money to relieve coronavirus-distressed economies.\nMajor Wall Street banks like Goldman Sachs and Morgan Stanley have also sought to provide their wealthy clients with bitcoin exposure.\nBut some investors, like Softbank founder Masayoshi Son, still aren't buying in to the crypto craze.\n\"There's a lot of discussion over if it's a good thing or a bad thing, what's the true value or is it in a bubble. Honestly speaking, I don't know,\" Son said at a recentearnings conference.\nWhile Tesla said it would not accept bitcoin for vehicle purchases on Wednesday, Musk specified that Tesla plans to hold rather than sell the bitcoin it already has, and would be looking into other cryptocurrencies that require less energy for transactions.\nDuring the first quarter of 2021, Tesla bought $1.5 billion worth of \"digital assets,\" then sold $272 million worth. According to a financial filing from Tesla on April 26,profits from bitcoin salesspecifically allowed the company to notch a $101 million \"positive impact\" toward profitability.\nMusk has been a very public fan of bitcoin and dogecoin, tweeting and joking about these with his millions of Twitter followers over the past year.\nThis past weekend, the Tesla chief made his hosting debut on \"Saturday Night Live\" and devoted part of his opening monologue and one sketch to talking up dogecoin. Instead of helping drive up the price of the meme-inspired token, dogecoinactually tanked 30%over the course of the hour that Musk was hosting SNL.\nDuring a frenzied sell-off at that time, the popular trading platform Robinhood experienced an outage in its crypto trading.\nFollowing Musk's announcement on Thursday, Dallas Mavericks owner Mark Cuban said that the team will continue to accept bitcoin and other crpytocurrencies because \"we know that replacing Gold as a store of value will help the environment.\"","news_type":1},"isVote":1,"tweetType":1,"viewCount":522,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":191856568,"gmtCreate":1620871136954,"gmtModify":1704349594000,"author":{"id":"3555714711589487","authorId":"3555714711589487","name":"KayYangYan","avatar":"https://static.tigerbbs.com/72f9d2b886df81a2726002cf381bf82e","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3555714711589487","authorIdStr":"3555714711589487"},"themes":[],"htmlText":"Is it really for the environment? Felt cautious about the whole grand scheme of things.","listText":"Is it really for the environment? Felt cautious about the whole grand scheme of things.","text":"Is it really for the environment? Felt cautious about the whole grand scheme of things.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/191856568","repostId":"1123539919","repostType":4,"repost":{"id":"1123539919","pubTimestamp":1620863433,"share":"https://ttm.financial/m/news/1123539919?lang=&edition=fundamental","pubTime":"2021-05-13 07:50","market":"us","language":"en","title":"Elon Musk says Tesla will stop accepting bitcoin for car purchases, citing environmental concerns","url":"https://stock-news.laohu8.com/highlight/detail?id=1123539919","media":"CNBC","summary":"TeslaCEO Elon Musk said Wednesday on Twitter that Tesla has \"suspended vehicle purchases using bitcoin,\" out of concern over \"rapidly increasing use of fossil fuels for bitcoin mining.\". The price of bitcoin dropped about 5% in the first minutes after Musk's announcement.In an SEC filing in February, Tesla revealed that it bought $1.5 billion worth of bitcoin and it may invest in more of bitcoin or other crypto currencies in the future.At that time, the company said it would start accepting bitc","content":"<div>\n<p>TeslaCEO Elon Musk said Wednesday on Twitter that Tesla has \"suspended vehicle purchases using bitcoin,\" out of concern over \"rapidly increasing use of fossil fuels for bitcoin mining.\"\nThe price of ...</p>\n\n<a href=\"https://www.cnbc.com/2021/05/12/elon-musk-says-tesla-will-stop-accepting-bitcoin-for-car-purchases.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Elon Musk says Tesla will stop accepting bitcoin for car purchases, citing environmental concerns</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nElon Musk says Tesla will stop accepting bitcoin for car purchases, citing environmental concerns\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-13 07:50 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/05/12/elon-musk-says-tesla-will-stop-accepting-bitcoin-for-car-purchases.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>TeslaCEO Elon Musk said Wednesday on Twitter that Tesla has \"suspended vehicle purchases using bitcoin,\" out of concern over \"rapidly increasing use of fossil fuels for bitcoin mining.\"\nThe price of ...</p>\n\n<a href=\"https://www.cnbc.com/2021/05/12/elon-musk-says-tesla-will-stop-accepting-bitcoin-for-car-purchases.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://www.cnbc.com/2021/05/12/elon-musk-says-tesla-will-stop-accepting-bitcoin-for-car-purchases.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1123539919","content_text":"TeslaCEO Elon Musk said Wednesday on Twitter that Tesla has \"suspended vehicle purchases using bitcoin,\" out of concern over \"rapidly increasing use of fossil fuels for bitcoin mining.\"\nThe price of bitcoin dropped about 5% in the first minutes after Musk's announcement.\nIn an SEC filing in February, Tesla revealed that it bought $1.5 billion worth of bitcoin and it may invest in more of bitcoin or other crypto currencies in the future.\nAt that time, the company said it would start accepting bitcoin as a payment method for its products.\nSupport for cryptocurrency from Tesla contributed to the prices of cryptocurrencies, including bitcoin and dogecoin, skyrocketing in recent months.\nHere was Musk's full announcement:\n\"Tesla has suspended vehicle purchases using Bitcoin. We are concerned about rapidly increasing use of fossil fuels for Bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel. Cryptocurrency is a good idea on many levels and we believe it has a promising future, but this cannot come at great cost to the environment. Tesla will not be selling any Bitcoin and we intend to use it for transactions as soon as mining transitions to more sustainable energy. We are also looking at other cryptocurrencies that use <1% of Bitcoin's energy/transaction.\"\nMainstream investors and some corporate buyers including Tesla,Square,Metromileand Nexon haveflocked to bitcoin, viewing the digital currency as a potential inflation hedge while central banks print money to relieve coronavirus-distressed economies.\nMajor Wall Street banks like Goldman Sachs and Morgan Stanley have also sought to provide their wealthy clients with bitcoin exposure.\nBut some investors, like Softbank founder Masayoshi Son, still aren't buying in to the crypto craze.\n\"There's a lot of discussion over if it's a good thing or a bad thing, what's the true value or is it in a bubble. Honestly speaking, I don't know,\" Son said at a recentearnings conference.\nWhile Tesla said it would not accept bitcoin for vehicle purchases on Wednesday, Musk specified that Tesla plans to hold rather than sell the bitcoin it already has, and would be looking into other cryptocurrencies that require less energy for transactions.\nDuring the first quarter of 2021, Tesla bought $1.5 billion worth of \"digital assets,\" then sold $272 million worth. According to a financial filing from Tesla on April 26,profits from bitcoin salesspecifically allowed the company to notch a $101 million \"positive impact\" toward profitability.\nMusk has been a very public fan of bitcoin and dogecoin, tweeting and joking about these with his millions of Twitter followers over the past year.\nThis past weekend, the Tesla chief made his hosting debut on \"Saturday Night Live\" and devoted part of his opening monologue and one sketch to talking up dogecoin. Instead of helping drive up the price of the meme-inspired token, dogecoinactually tanked 30%over the course of the hour that Musk was hosting SNL.\nDuring a frenzied sell-off at that time, the popular trading platform Robinhood experienced an outage in its crypto trading.\nFollowing Musk's announcement on Thursday, Dallas Mavericks owner Mark Cuban said that the team will continue to accept bitcoin and other crpytocurrencies because \"we know that replacing Gold as a store of value will help the environment.\"","news_type":1},"isVote":1,"tweetType":1,"viewCount":375,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":191850994,"gmtCreate":1620870877918,"gmtModify":1704349586488,"author":{"id":"3555714711589487","authorId":"3555714711589487","name":"KayYangYan","avatar":"https://static.tigerbbs.com/72f9d2b886df81a2726002cf381bf82e","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3555714711589487","authorIdStr":"3555714711589487"},"themes":[],"htmlText":"Thinking of getting Tesla stock but reconsidering","listText":"Thinking of getting Tesla stock but reconsidering","text":"Thinking of getting Tesla stock but reconsidering","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/191850994","repostId":"1139120087","repostType":2,"repost":{"id":"1139120087","pubTimestamp":1620802870,"share":"https://ttm.financial/m/news/1139120087?lang=&edition=fundamental","pubTime":"2021-05-12 15:01","market":"us","language":"en","title":"Tesla: Beware Of The Unwinding Of The Gamma Squeeze","url":"https://stock-news.laohu8.com/highlight/detail?id=1139120087","media":"seekingalpha","summary":"Tesla and other EV shares have been under some selling pressure in the last three months, the EV bubble is slowly deflating.Adverse publicity in China and increasing concern about the safety of Tesla’s FSD option is adding to the downdraft.In the company’s recent earnings call, Tesla  CEO, Elon Musk, compared it to the logistics of managing World War 2. His claim was perhaps a slight exaggeration, but it illustrates the point.Despite the low-profit margins and past failed attempts by the likes o","content":"<p><b>Summary</b></p>\n<ul>\n <li>Tesla and other EV shares have been under some selling pressure in the last three months, the EV bubble is slowly deflating.</li>\n <li>Adverse publicity in China and increasing concern about the safety of Tesla’s FSD option is adding to the downdraft.</li>\n <li>Intense competition in key markets and construction delay at the German factory do not help.</li>\n <li>Selling pressure could intensify in the second half of the year as call options expire, reversing last year's gamma squeeze.</li>\n</ul>\n<p>The automotive industry is a highly competitive, capital intensive, low margin business at the best of times. It is also a very difficult business to enter. In addition to massive capital requirements, success in the automotive business demands talented and experienced engineers, a network of factories, and powerful logistics to manage the complexities of the supply chain and manufacturing process.</p>\n<p>In the company’s recent earnings call, Tesla (TSLA) CEO, Elon Musk, compared it to the logistics of managing World War 2. His claim was perhaps a slight exaggeration, but it illustrates the point.</p>\n<p>Despite the low-profit margins and past failed attempts by the likes of Bricklin and DeLorean to enter the business, the promised advent of electric cars has produced a new wave of would-be automakers. Investors have piled into shares of these new entrants hoping to duplicate Tesla’s skyrocketing share performance, driving prices into bubble territory.</p>\n<p>However, Tesla’s financial results continue to demonstrate that the electric car business is no different from the rest of the automotive business. As more competition enters the BEV market prices are squeezed until profit margins are razor-thin. After 16 years of losses, Tesla finally reached profitability, not from selling cars, but from selling regulatory credits to other automakers. I think Tesla has clearly demonstrated that from a profitability viewpoint, electric cars are just cars with a different drive-train and the transformation to electric drives does not change the fundamental nature of the automotive business.</p>\n<p>The EV bubble is now deflating, Tesla is down 30% from its January high. Tesla’s would-be imitators have fared even worse, Lordstown Motors (RIDE) is down 73%, Fisker (FSR) -60%, Canoo (GOEV) – 62%. Tesla’s Chinese competitors' share prices are also falling, despite sharply rising sales. NIO (NIO) is down 40% and XPeng (XPEV) and Li Automotive (LIV) have both fallen more than 50%.</p>\n<p>Against this backdrop of falling share prices among EV companies, Tesla is facing a few headwinds of its own including:</p>\n<ul>\n <li>Adverse publicity resulting from quality and safety issues and a public backlash that will probably impact sales in China, its fastest growth market</li>\n <li>Increasing doubts about the safety and capabilities of Tesla’s Full Self Driving option, and the associated liabilities</li>\n <li>Construction delays at the German factory</li>\n <li>Intense competition from legacy automakers in its key markets</li>\n</ul>\n<p>But there is one factor that does not get the same attention in the media but may have an impact on Tesla’s share price in the second half of this year. It is the potential selling pressure from the high volume of “in the money call” options that expire in the next year – The unwinding of the gamma squeeze that some investors claim was the reason why Tesla’s shares reached their astronomical heights last year.</p>\n<p>Option hedging has a significant impact on Tesla’s share price</p>\n<p>Typical trading volumes for TSLA options are around 1 million contracts per day, equivalent to 100 million shares. Share volumes are around 30 million per day, which includes volume generated by market makers option hedging. With those relative volume levels, options trading is certain to have a significant influence on Tesla’s share price.</p>\n<p><b>Delta hedging and the gamma squeeze</b></p>\n<p>When option market makers sell an option, they hedge their exposure by buying shares (or selling if they are exposed to put options). The number of shares they buy or sell (known as Delta) depends on the relative price movement between the option and its underlying share.</p>\n<p>The value of Delta changes with the share price and the time to expiry. The chart below shows how those changes affect the number of shares that the option market makers buy to hedge their call option exposure. Three curves are shown with one-week, four-week, and one-year expiry dates, the X-axis is the share price relative to the option strike price.</p>\n<p><img src=\"https://static.tigerbbs.com/1f6fe1d60b7cacf9eece9460c672dc8f\" tg-width=\"640\" tg-height=\"408\"><i>Variation of option price with share price and expiry: Data sourced from Option Council</i></p>\n<p>Last year, when Tesla shares were hot, a lot of investors bought long-dated “out of the money” call options which would have been delta hedged by the option market makers. The green curve on the chart above is the delta curve for options with a 1-year expiry. As an example, a $400 call contract ($2,000 pre-split) bought a year ago, would have been on the left edge of the green curve, it would have been hedged at the time with the purchase of about 28 shares.</p>\n<p>If the share price had stayed the same over the past year, those shares would have been gradually sold as the delta curve moved towards the orange and blue curves. However, Tesla's share price has risen and is now about 170% of the $400 call option strike price, the delta is 0.98, another 70 shares have been purchased for hedging.</p>\n<p>This additional share buying for hedging is the \"gamma squeeze\". It has been one of the factors driving the price of Tesla shares upwards, and it will be a factor driving the share price down as the squeeze unwinds with the expiry of the options.</p>\n<p><b>Option expiry and the unwinding of the gamma squeeze</b></p>\n<p>As the expiry date approaches, delta tends to a value of 1.00 for in-the-money options and zero for out-of-the-money options. In theory, market makers would like to be holding, at expiry, one share for every ITM call option minus one share for each ITM put option to which they are exposed.</p>\n<p>If the options are held to expiry, they are exercised and the long or short position transfers to the option holder, with no effect on the market. However, most option holders do not hold the option to expiry, many will sell the option before expiry or hedge the position by buying or selling shares.</p>\n<p>Selling an ITM call option that has a delta of close to 1 causes the market maker to sell 100 shares and selling an ITM put option with a delta of close to 1 causes the market maker to buy 100 shares, so an imbalance between open interest in ITM calls and ITM puts will result in a net sale (or purchase)</p>\n<p>If option trading were the only driver of market prices the share price on expiry would trend towards the point where the open interest in ITM calls equals the open interest in ITM puts. I’ll refer to that as the put/call balance point.</p>\n<p><b>The effect of short expiry versus long expiry options</b></p>\n<p>Most weekly options don’t come to the market until 8 weeks before expiry, they tend to be traded at strike prices close to the share price, so the put/call balance point is usually close to the share price, and the impact on expiry is small.</p>\n<p>But the options that have been on the market for longer, the June, September, and January regular options show a strong imbalance between ITM calls and ITM puts, and much higher overall open interest. Option market makers are holding significant long positions to hedge those ITM calls, and those long positions will unwind as the calls approach expiry, releasing millions of shares onto the market.</p>\n<p>Based on data from May 7th, open ITM call interest in the June 18thoptions exceeds ITM put interest by 170,000 contracts (17 million shares), the balance point is at $440 as shown in the chart below:</p>\n<p><img src=\"https://static.tigerbbs.com/f47d2184c62ffb8f38c4cc633baac772\" tg-width=\"640\" tg-height=\"353\"><i>Open interest in Tesla Calls and Puts that are in the money at various share prices: Source data from Options Council, May 7th.</i></p>\n<p>If this theory is correct, as the upcoming June 18thcall option expiry approaches it will tend to push the Tesla share price towards $440 as the gamma squeeze unwinds, creating downward pressure on the share price.</p>\n<p>This does not all happen on options expiry day, open interest in the June ITM calls has been falling steadily since I started keeping records in February, indicating that some investors have been taking profits already.</p>\n<p><b>A falling share price generates downward gamma</b></p>\n<p>In addition to the effects of options expiry, there is the gamma effect as the share price moves up or down. The delta values move up or down their respective curves and option market makers buy or sell options to maintain their hedges. A falling share price generates selling of shares to unwind option hedges for all options, not just the expiring options, and it has the same directional effect for both puts and calls, i.e. selling when the price moves down and buying when the price moves up. This effect will magnify any downward moves, just as it magnified upward moves as Tesla’s share price rose last year.</p>\n<p>If you Google \"gamma squeeze\" you will find many articles describing how heavy call buying forces share prices up, but very few of those articles mention that the gamma squeeze works in both directions.</p>\n<p><b>Summary and Conclusion</b></p>\n<p>There is a large volume of deep-in-the-money call options purchased during Tesla’s share price run-up last year that will expire June 18th. This option expiry may precipitate selling as the option positions are closed and market makers remove their delta hedges. This will put downward pressure on the share price as the options expire. Further downward pressure is likely as the September and January options move towards expiry.</p>\n<p>Options trading is not the only factor that determines share prices but combined with other factors that appear to be pressuring Tesla’s share price at present, I think this would be a good time to take profits if you hold a long position, and don’t be tempted to buy the dip if the share price drops over the next few weeks.</p>\n<p><b>A note about data source and possible inaccuracies</b></p>\n<p>All the information used to develop the charts, calculations, and conclusions in this article has been downloaded fromThe Options Councilwebsite. The information has some flaws which limit the accuracy of the data.</p>\n<p>Option open interest is posted on the site daily before the market opens. The information posted is total open interest, not net open interest. If someone holds a long call and someone else holds a short call of the same strike and expiry, those positions will post as two open interests. That introduces inaccuracy in the data because we don’t know how much of the stated open interest is long and how much is short.</p>\n<p>However, I believe that most of the long-dated deep-in-the-money calls will be long positions and the conclusions are valid.</p>\n<p>I hold a very small position in July puts.</p>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla: Beware Of The Unwinding Of The Gamma Squeeze</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla: Beware Of The Unwinding Of The Gamma Squeeze\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-12 15:01 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4427585-tesla-beware-of-the-unwinding-of-the-gamma-squeeze><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nTesla and other EV shares have been under some selling pressure in the last three months, the EV bubble is slowly deflating.\nAdverse publicity in China and increasing concern about the safety...</p>\n\n<a href=\"https://seekingalpha.com/article/4427585-tesla-beware-of-the-unwinding-of-the-gamma-squeeze\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://seekingalpha.com/article/4427585-tesla-beware-of-the-unwinding-of-the-gamma-squeeze","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1139120087","content_text":"Summary\n\nTesla and other EV shares have been under some selling pressure in the last three months, the EV bubble is slowly deflating.\nAdverse publicity in China and increasing concern about the safety of Tesla’s FSD option is adding to the downdraft.\nIntense competition in key markets and construction delay at the German factory do not help.\nSelling pressure could intensify in the second half of the year as call options expire, reversing last year's gamma squeeze.\n\nThe automotive industry is a highly competitive, capital intensive, low margin business at the best of times. It is also a very difficult business to enter. In addition to massive capital requirements, success in the automotive business demands talented and experienced engineers, a network of factories, and powerful logistics to manage the complexities of the supply chain and manufacturing process.\nIn the company’s recent earnings call, Tesla (TSLA) CEO, Elon Musk, compared it to the logistics of managing World War 2. His claim was perhaps a slight exaggeration, but it illustrates the point.\nDespite the low-profit margins and past failed attempts by the likes of Bricklin and DeLorean to enter the business, the promised advent of electric cars has produced a new wave of would-be automakers. Investors have piled into shares of these new entrants hoping to duplicate Tesla’s skyrocketing share performance, driving prices into bubble territory.\nHowever, Tesla’s financial results continue to demonstrate that the electric car business is no different from the rest of the automotive business. As more competition enters the BEV market prices are squeezed until profit margins are razor-thin. After 16 years of losses, Tesla finally reached profitability, not from selling cars, but from selling regulatory credits to other automakers. I think Tesla has clearly demonstrated that from a profitability viewpoint, electric cars are just cars with a different drive-train and the transformation to electric drives does not change the fundamental nature of the automotive business.\nThe EV bubble is now deflating, Tesla is down 30% from its January high. Tesla’s would-be imitators have fared even worse, Lordstown Motors (RIDE) is down 73%, Fisker (FSR) -60%, Canoo (GOEV) – 62%. Tesla’s Chinese competitors' share prices are also falling, despite sharply rising sales. NIO (NIO) is down 40% and XPeng (XPEV) and Li Automotive (LIV) have both fallen more than 50%.\nAgainst this backdrop of falling share prices among EV companies, Tesla is facing a few headwinds of its own including:\n\nAdverse publicity resulting from quality and safety issues and a public backlash that will probably impact sales in China, its fastest growth market\nIncreasing doubts about the safety and capabilities of Tesla’s Full Self Driving option, and the associated liabilities\nConstruction delays at the German factory\nIntense competition from legacy automakers in its key markets\n\nBut there is one factor that does not get the same attention in the media but may have an impact on Tesla’s share price in the second half of this year. It is the potential selling pressure from the high volume of “in the money call” options that expire in the next year – The unwinding of the gamma squeeze that some investors claim was the reason why Tesla’s shares reached their astronomical heights last year.\nOption hedging has a significant impact on Tesla’s share price\nTypical trading volumes for TSLA options are around 1 million contracts per day, equivalent to 100 million shares. Share volumes are around 30 million per day, which includes volume generated by market makers option hedging. With those relative volume levels, options trading is certain to have a significant influence on Tesla’s share price.\nDelta hedging and the gamma squeeze\nWhen option market makers sell an option, they hedge their exposure by buying shares (or selling if they are exposed to put options). The number of shares they buy or sell (known as Delta) depends on the relative price movement between the option and its underlying share.\nThe value of Delta changes with the share price and the time to expiry. The chart below shows how those changes affect the number of shares that the option market makers buy to hedge their call option exposure. Three curves are shown with one-week, four-week, and one-year expiry dates, the X-axis is the share price relative to the option strike price.\nVariation of option price with share price and expiry: Data sourced from Option Council\nLast year, when Tesla shares were hot, a lot of investors bought long-dated “out of the money” call options which would have been delta hedged by the option market makers. The green curve on the chart above is the delta curve for options with a 1-year expiry. As an example, a $400 call contract ($2,000 pre-split) bought a year ago, would have been on the left edge of the green curve, it would have been hedged at the time with the purchase of about 28 shares.\nIf the share price had stayed the same over the past year, those shares would have been gradually sold as the delta curve moved towards the orange and blue curves. However, Tesla's share price has risen and is now about 170% of the $400 call option strike price, the delta is 0.98, another 70 shares have been purchased for hedging.\nThis additional share buying for hedging is the \"gamma squeeze\". It has been one of the factors driving the price of Tesla shares upwards, and it will be a factor driving the share price down as the squeeze unwinds with the expiry of the options.\nOption expiry and the unwinding of the gamma squeeze\nAs the expiry date approaches, delta tends to a value of 1.00 for in-the-money options and zero for out-of-the-money options. In theory, market makers would like to be holding, at expiry, one share for every ITM call option minus one share for each ITM put option to which they are exposed.\nIf the options are held to expiry, they are exercised and the long or short position transfers to the option holder, with no effect on the market. However, most option holders do not hold the option to expiry, many will sell the option before expiry or hedge the position by buying or selling shares.\nSelling an ITM call option that has a delta of close to 1 causes the market maker to sell 100 shares and selling an ITM put option with a delta of close to 1 causes the market maker to buy 100 shares, so an imbalance between open interest in ITM calls and ITM puts will result in a net sale (or purchase)\nIf option trading were the only driver of market prices the share price on expiry would trend towards the point where the open interest in ITM calls equals the open interest in ITM puts. I’ll refer to that as the put/call balance point.\nThe effect of short expiry versus long expiry options\nMost weekly options don’t come to the market until 8 weeks before expiry, they tend to be traded at strike prices close to the share price, so the put/call balance point is usually close to the share price, and the impact on expiry is small.\nBut the options that have been on the market for longer, the June, September, and January regular options show a strong imbalance between ITM calls and ITM puts, and much higher overall open interest. Option market makers are holding significant long positions to hedge those ITM calls, and those long positions will unwind as the calls approach expiry, releasing millions of shares onto the market.\nBased on data from May 7th, open ITM call interest in the June 18thoptions exceeds ITM put interest by 170,000 contracts (17 million shares), the balance point is at $440 as shown in the chart below:\nOpen interest in Tesla Calls and Puts that are in the money at various share prices: Source data from Options Council, May 7th.\nIf this theory is correct, as the upcoming June 18thcall option expiry approaches it will tend to push the Tesla share price towards $440 as the gamma squeeze unwinds, creating downward pressure on the share price.\nThis does not all happen on options expiry day, open interest in the June ITM calls has been falling steadily since I started keeping records in February, indicating that some investors have been taking profits already.\nA falling share price generates downward gamma\nIn addition to the effects of options expiry, there is the gamma effect as the share price moves up or down. The delta values move up or down their respective curves and option market makers buy or sell options to maintain their hedges. A falling share price generates selling of shares to unwind option hedges for all options, not just the expiring options, and it has the same directional effect for both puts and calls, i.e. selling when the price moves down and buying when the price moves up. This effect will magnify any downward moves, just as it magnified upward moves as Tesla’s share price rose last year.\nIf you Google \"gamma squeeze\" you will find many articles describing how heavy call buying forces share prices up, but very few of those articles mention that the gamma squeeze works in both directions.\nSummary and Conclusion\nThere is a large volume of deep-in-the-money call options purchased during Tesla’s share price run-up last year that will expire June 18th. This option expiry may precipitate selling as the option positions are closed and market makers remove their delta hedges. This will put downward pressure on the share price as the options expire. Further downward pressure is likely as the September and January options move towards expiry.\nOptions trading is not the only factor that determines share prices but combined with other factors that appear to be pressuring Tesla’s share price at present, I think this would be a good time to take profits if you hold a long position, and don’t be tempted to buy the dip if the share price drops over the next few weeks.\nA note about data source and possible inaccuracies\nAll the information used to develop the charts, calculations, and conclusions in this article has been downloaded fromThe Options Councilwebsite. The information has some flaws which limit the accuracy of the data.\nOption open interest is posted on the site daily before the market opens. The information posted is total open interest, not net open interest. If someone holds a long call and someone else holds a short call of the same strike and expiry, those positions will post as two open interests. That introduces inaccuracy in the data because we don’t know how much of the stated open interest is long and how much is short.\nHowever, I believe that most of the long-dated deep-in-the-money calls will be long positions and the conclusions are valid.\nI hold a very small position in July puts.","news_type":1},"isVote":1,"tweetType":1,"viewCount":665,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":190795609,"gmtCreate":1620651029801,"gmtModify":1704346108993,"author":{"id":"3555714711589487","authorId":"3555714711589487","name":"KayYangYan","avatar":"https://static.tigerbbs.com/72f9d2b886df81a2726002cf381bf82e","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3555714711589487","authorIdStr":"3555714711589487"},"themes":[],"htmlText":"Super excited about their financial results!&nbsp;","listText":"Super excited about their financial results!&nbsp;","text":"Super excited about their financial results!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/190795609","repostId":"103206422","repostType":1,"repost":{"id":103206422,"gmtCreate":1619712000000,"gmtModify":1706625312580,"author":{"id":"3570687182203069","authorId":"3570687182203069","name":"阿里巴巴集团","avatar":"https://static.tigerbbs.com/ffa1823fc08bc3fee51c887d0a36f268","crmLevel":0,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3570687182203069","authorIdStr":"3570687182203069"},"themes":[],"title":"Alibaba Group Will Announce March Quarter 2021 and Full Fiscal Year 2021 Results on May 13, 2021","htmlText":"April 30, 2021 Alibaba Group Will Announce March Quarter 2021 and Full Fiscal Year 2021 Results on May 13, 2021","listText":"April 30, 2021 Alibaba Group Will Announce March Quarter 2021 and Full Fiscal Year 2021 Results on May 13, 2021","text":"April 30, 2021 Alibaba Group Will Announce March Quarter 2021 and Full Fiscal Year 2021 Results on May 13, 2021","images":[],"top":1,"highlighted":2,"essential":1,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/103206422","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":321,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":107826730,"gmtCreate":1620468003820,"gmtModify":1704344145543,"author":{"id":"3555714711589487","authorId":"3555714711589487","name":"KayYangYan","avatar":"https://static.tigerbbs.com/72f9d2b886df81a2726002cf381bf82e","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3555714711589487","authorIdStr":"3555714711589487"},"themes":[],"htmlText":"Great ariticle, would you like to share it?","listText":"Great ariticle, would you like to share it?","text":"Great ariticle, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/107826730","repostId":"1170905579","repostType":4,"repost":{"id":"1170905579","pubTimestamp":1620462497,"share":"https://ttm.financial/m/news/1170905579?lang=&edition=fundamental","pubTime":"2021-05-08 16:28","market":"us","language":"en","title":"The real story of the Trump-Facebook saga","url":"https://stock-news.laohu8.com/highlight/detail?id=1170905579","media":"Yahoo Finance ","summary":"It’s not this complicated.Like other bumbling corporations reluctant to take a stand, Facebook and i","content":"<p>It’s not this complicated.</p><p>Like other bumbling corporations reluctant to take a stand, Facebook and its CEO, Mark Zuckerberg, have turned a temporary controversy into an ongoing fiasco. The social-media giant could have permanently banned then-President Donald Trump on Jan. 7, after he used the platform to lie about the 2020 election and praise rioters trying to seize control of the US Capitol the day before. Trump and his supporters would have squealed, but decisive action by Facebook would have left them no choice: Deal with it.</p><p>Instead, Facebook (FB) suspended Trump’s account “indefinitely,” while asking the company’s “oversight board”—a group of outside policy experts—to recommend a permanent solution. On May 5, the board “upheld” Facebook’s decision to exile Trump, but it alsodinged Facebook for the arbitrary application of vague standards. Instead of handing the company a simple answer, it told Facebook to come up with a permanent solution of its own within six months.</p><p>Have you ever watched an overwrought parent try to negotiate with a misbehaving five-year-old? Instead of telling the kid to stop being a brat, the parent tries to persuade the child why it’s important to stop being a brat, hoping the child will stop being a brat because he sees the light and learns an important life lesson in the process. You want to shout, “just tell him to stop it!”</p><p>This is what’s going on with Facebook and its oversight board. Facebook is trying to dodge responsibility for making a decision sure to be unpopular with some of its users. The oversight board, relishing its own perceived importance, issued an11,800 word communiquethat didn’t resolve anything. The real answer is painfully obvious: Facebook should permanently ban anybody who’s a chronic liar and violence inciter. Yet nobody in Faceworld can say it.</p><p>Let’s quickly review what’s really happening in the Facebook saga, by annotating the motives of the key players. It won’t take thousands of words.</p><p><b>Donald Trump.</b>He wants the largest possible audience for his propaganda, includinghis lies about the 2020 election being stolenfrom him. Trump is a wannabe despot whoclaims persecutionto distract followers from his aberrant behavior and his election losses. It also helps him raise money from gullible sympathizers. As a private-sector entity, Facebook has the right to boot users who cause the company trouble, which Trump clearly did. There’s no free speech or First Amendment issue at all, because Trump is still free to publish his own views on a platform of his own. If it were a free speech issue, Facebook could cite the First Amendment to declare it faces no obligation to publish anybody's views, just as a newspaper doesn't have to run government manifestoes. Trump's claim of “censorship” is ridiculous, but it obviously keeps him in the news and fires up his supporters.</p><p><b>The Trump cult.</b>Echoing Trump,other Republican politiciansclaim Facebook and other social-media sites single out conservatives for “censorship.” They’re mixing up cause and effect. Election lies and other disinformation are now a staple of the Trump wing of the Republican party, and these lies trigger retaliation by the companies hosting the offending accounts. If Trumpers lied less, social media would “censor” them less. Most of them know this, but “censorship” gives them a bogus cause that helps generate outrage among their followers and juice their own campaign contributions.</p><p><b>Mark Zuckerberg.</b>The Facebook CEO cares about making money above all, and there’s not necessarily anything wrong with that. Zuckerberg wants to outsource the decision about Trump so that he and the company don’t seem to be directly responsible for an outcome likely to anger millions of conservative Facebook users. He may also want to have plausible deniability the next time he testifies before Congress, so that when a Trump lackey such as Rep. Jim Jordan (R., Ohio) tries to pillory Zuckerberg for persecuting Trump, Zuckerberg can say, “it wasn’t me.” It’s not clear Facebook is actually losing money because of the Trump feud, but even if it is, Zuckerberg has miscalculated by failing to account for other damage caused by allowing the Trump debacle to fester.</p><p><b>Democrats.</b>They don’t like Facebook either, but Sen. Elizabeth Warren and other Facebook critics on the left have a different gripe:Facebook abuses user dataand hastoo much powerin the digital advertising market. Facebook has few friends in Congress, but it does have one important thing going for it: The company’s Republican and Democratic critics are so divided that they may never agree on any legislation that reins in the company’s power.</p><p>There’s only one way the Facebook-Trump saga can end: A permanent Trump ban. Trump will never stop lying, and any negotiated return to Facebook would only restart the cycle. Around the same time Facebook indefinitely banned Trump, Twitteraxed his account permanently. It didn’t drag out the decision or ask somebody else to decide for it. Twitter (TWTR) is no longer explaining or relitigating its Trump decision, which is where Facebook might be in a year or two. It has already taken too long.</p>","source":"yahoofinance_sg","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The real story of the Trump-Facebook saga</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe real story of the Trump-Facebook saga\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-08 16:28 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/the-real-story-of-the-trump-facebook-saga-145941882.html><strong>Yahoo Finance </strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>It’s not this complicated.Like other bumbling corporations reluctant to take a stand, Facebook and its CEO, Mark Zuckerberg, have turned a temporary controversy into an ongoing fiasco. The social-...</p>\n\n<a href=\"https://finance.yahoo.com/news/the-real-story-of-the-trump-facebook-saga-145941882.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://finance.yahoo.com/news/the-real-story-of-the-trump-facebook-saga-145941882.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1170905579","content_text":"It’s not this complicated.Like other bumbling corporations reluctant to take a stand, Facebook and its CEO, Mark Zuckerberg, have turned a temporary controversy into an ongoing fiasco. The social-media giant could have permanently banned then-President Donald Trump on Jan. 7, after he used the platform to lie about the 2020 election and praise rioters trying to seize control of the US Capitol the day before. Trump and his supporters would have squealed, but decisive action by Facebook would have left them no choice: Deal with it.Instead, Facebook (FB) suspended Trump’s account “indefinitely,” while asking the company’s “oversight board”—a group of outside policy experts—to recommend a permanent solution. On May 5, the board “upheld” Facebook’s decision to exile Trump, but it alsodinged Facebook for the arbitrary application of vague standards. Instead of handing the company a simple answer, it told Facebook to come up with a permanent solution of its own within six months.Have you ever watched an overwrought parent try to negotiate with a misbehaving five-year-old? Instead of telling the kid to stop being a brat, the parent tries to persuade the child why it’s important to stop being a brat, hoping the child will stop being a brat because he sees the light and learns an important life lesson in the process. You want to shout, “just tell him to stop it!”This is what’s going on with Facebook and its oversight board. Facebook is trying to dodge responsibility for making a decision sure to be unpopular with some of its users. The oversight board, relishing its own perceived importance, issued an11,800 word communiquethat didn’t resolve anything. The real answer is painfully obvious: Facebook should permanently ban anybody who’s a chronic liar and violence inciter. Yet nobody in Faceworld can say it.Let’s quickly review what’s really happening in the Facebook saga, by annotating the motives of the key players. It won’t take thousands of words.Donald Trump.He wants the largest possible audience for his propaganda, includinghis lies about the 2020 election being stolenfrom him. Trump is a wannabe despot whoclaims persecutionto distract followers from his aberrant behavior and his election losses. It also helps him raise money from gullible sympathizers. As a private-sector entity, Facebook has the right to boot users who cause the company trouble, which Trump clearly did. There’s no free speech or First Amendment issue at all, because Trump is still free to publish his own views on a platform of his own. If it were a free speech issue, Facebook could cite the First Amendment to declare it faces no obligation to publish anybody's views, just as a newspaper doesn't have to run government manifestoes. Trump's claim of “censorship” is ridiculous, but it obviously keeps him in the news and fires up his supporters.The Trump cult.Echoing Trump,other Republican politiciansclaim Facebook and other social-media sites single out conservatives for “censorship.” They’re mixing up cause and effect. Election lies and other disinformation are now a staple of the Trump wing of the Republican party, and these lies trigger retaliation by the companies hosting the offending accounts. If Trumpers lied less, social media would “censor” them less. Most of them know this, but “censorship” gives them a bogus cause that helps generate outrage among their followers and juice their own campaign contributions.Mark Zuckerberg.The Facebook CEO cares about making money above all, and there’s not necessarily anything wrong with that. Zuckerberg wants to outsource the decision about Trump so that he and the company don’t seem to be directly responsible for an outcome likely to anger millions of conservative Facebook users. He may also want to have plausible deniability the next time he testifies before Congress, so that when a Trump lackey such as Rep. Jim Jordan (R., Ohio) tries to pillory Zuckerberg for persecuting Trump, Zuckerberg can say, “it wasn’t me.” It’s not clear Facebook is actually losing money because of the Trump feud, but even if it is, Zuckerberg has miscalculated by failing to account for other damage caused by allowing the Trump debacle to fester.Democrats.They don’t like Facebook either, but Sen. Elizabeth Warren and other Facebook critics on the left have a different gripe:Facebook abuses user dataand hastoo much powerin the digital advertising market. Facebook has few friends in Congress, but it does have one important thing going for it: The company’s Republican and Democratic critics are so divided that they may never agree on any legislation that reins in the company’s power.There’s only one way the Facebook-Trump saga can end: A permanent Trump ban. Trump will never stop lying, and any negotiated return to Facebook would only restart the cycle. Around the same time Facebook indefinitely banned Trump, Twitteraxed his account permanently. It didn’t drag out the decision or ask somebody else to decide for it. Twitter (TWTR) is no longer explaining or relitigating its Trump decision, which is where Facebook might be in a year or two. It has already taken too long.","news_type":1},"isVote":1,"tweetType":1,"viewCount":600,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":191850994,"gmtCreate":1620870877918,"gmtModify":1704349586488,"author":{"id":"3555714711589487","authorId":"3555714711589487","name":"KayYangYan","avatar":"https://static.tigerbbs.com/72f9d2b886df81a2726002cf381bf82e","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3555714711589487","authorIdStr":"3555714711589487"},"themes":[],"htmlText":"Thinking of getting Tesla stock but reconsidering","listText":"Thinking of getting Tesla stock but reconsidering","text":"Thinking of getting Tesla stock but reconsidering","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/191850994","repostId":"1139120087","repostType":2,"repost":{"id":"1139120087","pubTimestamp":1620802870,"share":"https://ttm.financial/m/news/1139120087?lang=&edition=fundamental","pubTime":"2021-05-12 15:01","market":"us","language":"en","title":"Tesla: Beware Of The Unwinding Of The Gamma Squeeze","url":"https://stock-news.laohu8.com/highlight/detail?id=1139120087","media":"seekingalpha","summary":"Tesla and other EV shares have been under some selling pressure in the last three months, the EV bubble is slowly deflating.Adverse publicity in China and increasing concern about the safety of Tesla’s FSD option is adding to the downdraft.In the company’s recent earnings call, Tesla  CEO, Elon Musk, compared it to the logistics of managing World War 2. His claim was perhaps a slight exaggeration, but it illustrates the point.Despite the low-profit margins and past failed attempts by the likes o","content":"<p><b>Summary</b></p>\n<ul>\n <li>Tesla and other EV shares have been under some selling pressure in the last three months, the EV bubble is slowly deflating.</li>\n <li>Adverse publicity in China and increasing concern about the safety of Tesla’s FSD option is adding to the downdraft.</li>\n <li>Intense competition in key markets and construction delay at the German factory do not help.</li>\n <li>Selling pressure could intensify in the second half of the year as call options expire, reversing last year's gamma squeeze.</li>\n</ul>\n<p>The automotive industry is a highly competitive, capital intensive, low margin business at the best of times. It is also a very difficult business to enter. In addition to massive capital requirements, success in the automotive business demands talented and experienced engineers, a network of factories, and powerful logistics to manage the complexities of the supply chain and manufacturing process.</p>\n<p>In the company’s recent earnings call, Tesla (TSLA) CEO, Elon Musk, compared it to the logistics of managing World War 2. His claim was perhaps a slight exaggeration, but it illustrates the point.</p>\n<p>Despite the low-profit margins and past failed attempts by the likes of Bricklin and DeLorean to enter the business, the promised advent of electric cars has produced a new wave of would-be automakers. Investors have piled into shares of these new entrants hoping to duplicate Tesla’s skyrocketing share performance, driving prices into bubble territory.</p>\n<p>However, Tesla’s financial results continue to demonstrate that the electric car business is no different from the rest of the automotive business. As more competition enters the BEV market prices are squeezed until profit margins are razor-thin. After 16 years of losses, Tesla finally reached profitability, not from selling cars, but from selling regulatory credits to other automakers. I think Tesla has clearly demonstrated that from a profitability viewpoint, electric cars are just cars with a different drive-train and the transformation to electric drives does not change the fundamental nature of the automotive business.</p>\n<p>The EV bubble is now deflating, Tesla is down 30% from its January high. Tesla’s would-be imitators have fared even worse, Lordstown Motors (RIDE) is down 73%, Fisker (FSR) -60%, Canoo (GOEV) – 62%. Tesla’s Chinese competitors' share prices are also falling, despite sharply rising sales. NIO (NIO) is down 40% and XPeng (XPEV) and Li Automotive (LIV) have both fallen more than 50%.</p>\n<p>Against this backdrop of falling share prices among EV companies, Tesla is facing a few headwinds of its own including:</p>\n<ul>\n <li>Adverse publicity resulting from quality and safety issues and a public backlash that will probably impact sales in China, its fastest growth market</li>\n <li>Increasing doubts about the safety and capabilities of Tesla’s Full Self Driving option, and the associated liabilities</li>\n <li>Construction delays at the German factory</li>\n <li>Intense competition from legacy automakers in its key markets</li>\n</ul>\n<p>But there is one factor that does not get the same attention in the media but may have an impact on Tesla’s share price in the second half of this year. It is the potential selling pressure from the high volume of “in the money call” options that expire in the next year – The unwinding of the gamma squeeze that some investors claim was the reason why Tesla’s shares reached their astronomical heights last year.</p>\n<p>Option hedging has a significant impact on Tesla’s share price</p>\n<p>Typical trading volumes for TSLA options are around 1 million contracts per day, equivalent to 100 million shares. Share volumes are around 30 million per day, which includes volume generated by market makers option hedging. With those relative volume levels, options trading is certain to have a significant influence on Tesla’s share price.</p>\n<p><b>Delta hedging and the gamma squeeze</b></p>\n<p>When option market makers sell an option, they hedge their exposure by buying shares (or selling if they are exposed to put options). The number of shares they buy or sell (known as Delta) depends on the relative price movement between the option and its underlying share.</p>\n<p>The value of Delta changes with the share price and the time to expiry. The chart below shows how those changes affect the number of shares that the option market makers buy to hedge their call option exposure. Three curves are shown with one-week, four-week, and one-year expiry dates, the X-axis is the share price relative to the option strike price.</p>\n<p><img src=\"https://static.tigerbbs.com/1f6fe1d60b7cacf9eece9460c672dc8f\" tg-width=\"640\" tg-height=\"408\"><i>Variation of option price with share price and expiry: Data sourced from Option Council</i></p>\n<p>Last year, when Tesla shares were hot, a lot of investors bought long-dated “out of the money” call options which would have been delta hedged by the option market makers. The green curve on the chart above is the delta curve for options with a 1-year expiry. As an example, a $400 call contract ($2,000 pre-split) bought a year ago, would have been on the left edge of the green curve, it would have been hedged at the time with the purchase of about 28 shares.</p>\n<p>If the share price had stayed the same over the past year, those shares would have been gradually sold as the delta curve moved towards the orange and blue curves. However, Tesla's share price has risen and is now about 170% of the $400 call option strike price, the delta is 0.98, another 70 shares have been purchased for hedging.</p>\n<p>This additional share buying for hedging is the \"gamma squeeze\". It has been one of the factors driving the price of Tesla shares upwards, and it will be a factor driving the share price down as the squeeze unwinds with the expiry of the options.</p>\n<p><b>Option expiry and the unwinding of the gamma squeeze</b></p>\n<p>As the expiry date approaches, delta tends to a value of 1.00 for in-the-money options and zero for out-of-the-money options. In theory, market makers would like to be holding, at expiry, one share for every ITM call option minus one share for each ITM put option to which they are exposed.</p>\n<p>If the options are held to expiry, they are exercised and the long or short position transfers to the option holder, with no effect on the market. However, most option holders do not hold the option to expiry, many will sell the option before expiry or hedge the position by buying or selling shares.</p>\n<p>Selling an ITM call option that has a delta of close to 1 causes the market maker to sell 100 shares and selling an ITM put option with a delta of close to 1 causes the market maker to buy 100 shares, so an imbalance between open interest in ITM calls and ITM puts will result in a net sale (or purchase)</p>\n<p>If option trading were the only driver of market prices the share price on expiry would trend towards the point where the open interest in ITM calls equals the open interest in ITM puts. I’ll refer to that as the put/call balance point.</p>\n<p><b>The effect of short expiry versus long expiry options</b></p>\n<p>Most weekly options don’t come to the market until 8 weeks before expiry, they tend to be traded at strike prices close to the share price, so the put/call balance point is usually close to the share price, and the impact on expiry is small.</p>\n<p>But the options that have been on the market for longer, the June, September, and January regular options show a strong imbalance between ITM calls and ITM puts, and much higher overall open interest. Option market makers are holding significant long positions to hedge those ITM calls, and those long positions will unwind as the calls approach expiry, releasing millions of shares onto the market.</p>\n<p>Based on data from May 7th, open ITM call interest in the June 18thoptions exceeds ITM put interest by 170,000 contracts (17 million shares), the balance point is at $440 as shown in the chart below:</p>\n<p><img src=\"https://static.tigerbbs.com/f47d2184c62ffb8f38c4cc633baac772\" tg-width=\"640\" tg-height=\"353\"><i>Open interest in Tesla Calls and Puts that are in the money at various share prices: Source data from Options Council, May 7th.</i></p>\n<p>If this theory is correct, as the upcoming June 18thcall option expiry approaches it will tend to push the Tesla share price towards $440 as the gamma squeeze unwinds, creating downward pressure on the share price.</p>\n<p>This does not all happen on options expiry day, open interest in the June ITM calls has been falling steadily since I started keeping records in February, indicating that some investors have been taking profits already.</p>\n<p><b>A falling share price generates downward gamma</b></p>\n<p>In addition to the effects of options expiry, there is the gamma effect as the share price moves up or down. The delta values move up or down their respective curves and option market makers buy or sell options to maintain their hedges. A falling share price generates selling of shares to unwind option hedges for all options, not just the expiring options, and it has the same directional effect for both puts and calls, i.e. selling when the price moves down and buying when the price moves up. This effect will magnify any downward moves, just as it magnified upward moves as Tesla’s share price rose last year.</p>\n<p>If you Google \"gamma squeeze\" you will find many articles describing how heavy call buying forces share prices up, but very few of those articles mention that the gamma squeeze works in both directions.</p>\n<p><b>Summary and Conclusion</b></p>\n<p>There is a large volume of deep-in-the-money call options purchased during Tesla’s share price run-up last year that will expire June 18th. This option expiry may precipitate selling as the option positions are closed and market makers remove their delta hedges. This will put downward pressure on the share price as the options expire. Further downward pressure is likely as the September and January options move towards expiry.</p>\n<p>Options trading is not the only factor that determines share prices but combined with other factors that appear to be pressuring Tesla’s share price at present, I think this would be a good time to take profits if you hold a long position, and don’t be tempted to buy the dip if the share price drops over the next few weeks.</p>\n<p><b>A note about data source and possible inaccuracies</b></p>\n<p>All the information used to develop the charts, calculations, and conclusions in this article has been downloaded fromThe Options Councilwebsite. The information has some flaws which limit the accuracy of the data.</p>\n<p>Option open interest is posted on the site daily before the market opens. The information posted is total open interest, not net open interest. If someone holds a long call and someone else holds a short call of the same strike and expiry, those positions will post as two open interests. That introduces inaccuracy in the data because we don’t know how much of the stated open interest is long and how much is short.</p>\n<p>However, I believe that most of the long-dated deep-in-the-money calls will be long positions and the conclusions are valid.</p>\n<p>I hold a very small position in July puts.</p>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla: Beware Of The Unwinding Of The Gamma Squeeze</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla: Beware Of The Unwinding Of The Gamma Squeeze\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-12 15:01 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4427585-tesla-beware-of-the-unwinding-of-the-gamma-squeeze><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nTesla and other EV shares have been under some selling pressure in the last three months, the EV bubble is slowly deflating.\nAdverse publicity in China and increasing concern about the safety...</p>\n\n<a href=\"https://seekingalpha.com/article/4427585-tesla-beware-of-the-unwinding-of-the-gamma-squeeze\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://seekingalpha.com/article/4427585-tesla-beware-of-the-unwinding-of-the-gamma-squeeze","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1139120087","content_text":"Summary\n\nTesla and other EV shares have been under some selling pressure in the last three months, the EV bubble is slowly deflating.\nAdverse publicity in China and increasing concern about the safety of Tesla’s FSD option is adding to the downdraft.\nIntense competition in key markets and construction delay at the German factory do not help.\nSelling pressure could intensify in the second half of the year as call options expire, reversing last year's gamma squeeze.\n\nThe automotive industry is a highly competitive, capital intensive, low margin business at the best of times. It is also a very difficult business to enter. In addition to massive capital requirements, success in the automotive business demands talented and experienced engineers, a network of factories, and powerful logistics to manage the complexities of the supply chain and manufacturing process.\nIn the company’s recent earnings call, Tesla (TSLA) CEO, Elon Musk, compared it to the logistics of managing World War 2. His claim was perhaps a slight exaggeration, but it illustrates the point.\nDespite the low-profit margins and past failed attempts by the likes of Bricklin and DeLorean to enter the business, the promised advent of electric cars has produced a new wave of would-be automakers. Investors have piled into shares of these new entrants hoping to duplicate Tesla’s skyrocketing share performance, driving prices into bubble territory.\nHowever, Tesla’s financial results continue to demonstrate that the electric car business is no different from the rest of the automotive business. As more competition enters the BEV market prices are squeezed until profit margins are razor-thin. After 16 years of losses, Tesla finally reached profitability, not from selling cars, but from selling regulatory credits to other automakers. I think Tesla has clearly demonstrated that from a profitability viewpoint, electric cars are just cars with a different drive-train and the transformation to electric drives does not change the fundamental nature of the automotive business.\nThe EV bubble is now deflating, Tesla is down 30% from its January high. Tesla’s would-be imitators have fared even worse, Lordstown Motors (RIDE) is down 73%, Fisker (FSR) -60%, Canoo (GOEV) – 62%. Tesla’s Chinese competitors' share prices are also falling, despite sharply rising sales. NIO (NIO) is down 40% and XPeng (XPEV) and Li Automotive (LIV) have both fallen more than 50%.\nAgainst this backdrop of falling share prices among EV companies, Tesla is facing a few headwinds of its own including:\n\nAdverse publicity resulting from quality and safety issues and a public backlash that will probably impact sales in China, its fastest growth market\nIncreasing doubts about the safety and capabilities of Tesla’s Full Self Driving option, and the associated liabilities\nConstruction delays at the German factory\nIntense competition from legacy automakers in its key markets\n\nBut there is one factor that does not get the same attention in the media but may have an impact on Tesla’s share price in the second half of this year. It is the potential selling pressure from the high volume of “in the money call” options that expire in the next year – The unwinding of the gamma squeeze that some investors claim was the reason why Tesla’s shares reached their astronomical heights last year.\nOption hedging has a significant impact on Tesla’s share price\nTypical trading volumes for TSLA options are around 1 million contracts per day, equivalent to 100 million shares. Share volumes are around 30 million per day, which includes volume generated by market makers option hedging. With those relative volume levels, options trading is certain to have a significant influence on Tesla’s share price.\nDelta hedging and the gamma squeeze\nWhen option market makers sell an option, they hedge their exposure by buying shares (or selling if they are exposed to put options). The number of shares they buy or sell (known as Delta) depends on the relative price movement between the option and its underlying share.\nThe value of Delta changes with the share price and the time to expiry. The chart below shows how those changes affect the number of shares that the option market makers buy to hedge their call option exposure. Three curves are shown with one-week, four-week, and one-year expiry dates, the X-axis is the share price relative to the option strike price.\nVariation of option price with share price and expiry: Data sourced from Option Council\nLast year, when Tesla shares were hot, a lot of investors bought long-dated “out of the money” call options which would have been delta hedged by the option market makers. The green curve on the chart above is the delta curve for options with a 1-year expiry. As an example, a $400 call contract ($2,000 pre-split) bought a year ago, would have been on the left edge of the green curve, it would have been hedged at the time with the purchase of about 28 shares.\nIf the share price had stayed the same over the past year, those shares would have been gradually sold as the delta curve moved towards the orange and blue curves. However, Tesla's share price has risen and is now about 170% of the $400 call option strike price, the delta is 0.98, another 70 shares have been purchased for hedging.\nThis additional share buying for hedging is the \"gamma squeeze\". It has been one of the factors driving the price of Tesla shares upwards, and it will be a factor driving the share price down as the squeeze unwinds with the expiry of the options.\nOption expiry and the unwinding of the gamma squeeze\nAs the expiry date approaches, delta tends to a value of 1.00 for in-the-money options and zero for out-of-the-money options. In theory, market makers would like to be holding, at expiry, one share for every ITM call option minus one share for each ITM put option to which they are exposed.\nIf the options are held to expiry, they are exercised and the long or short position transfers to the option holder, with no effect on the market. However, most option holders do not hold the option to expiry, many will sell the option before expiry or hedge the position by buying or selling shares.\nSelling an ITM call option that has a delta of close to 1 causes the market maker to sell 100 shares and selling an ITM put option with a delta of close to 1 causes the market maker to buy 100 shares, so an imbalance between open interest in ITM calls and ITM puts will result in a net sale (or purchase)\nIf option trading were the only driver of market prices the share price on expiry would trend towards the point where the open interest in ITM calls equals the open interest in ITM puts. I’ll refer to that as the put/call balance point.\nThe effect of short expiry versus long expiry options\nMost weekly options don’t come to the market until 8 weeks before expiry, they tend to be traded at strike prices close to the share price, so the put/call balance point is usually close to the share price, and the impact on expiry is small.\nBut the options that have been on the market for longer, the June, September, and January regular options show a strong imbalance between ITM calls and ITM puts, and much higher overall open interest. Option market makers are holding significant long positions to hedge those ITM calls, and those long positions will unwind as the calls approach expiry, releasing millions of shares onto the market.\nBased on data from May 7th, open ITM call interest in the June 18thoptions exceeds ITM put interest by 170,000 contracts (17 million shares), the balance point is at $440 as shown in the chart below:\nOpen interest in Tesla Calls and Puts that are in the money at various share prices: Source data from Options Council, May 7th.\nIf this theory is correct, as the upcoming June 18thcall option expiry approaches it will tend to push the Tesla share price towards $440 as the gamma squeeze unwinds, creating downward pressure on the share price.\nThis does not all happen on options expiry day, open interest in the June ITM calls has been falling steadily since I started keeping records in February, indicating that some investors have been taking profits already.\nA falling share price generates downward gamma\nIn addition to the effects of options expiry, there is the gamma effect as the share price moves up or down. The delta values move up or down their respective curves and option market makers buy or sell options to maintain their hedges. A falling share price generates selling of shares to unwind option hedges for all options, not just the expiring options, and it has the same directional effect for both puts and calls, i.e. selling when the price moves down and buying when the price moves up. This effect will magnify any downward moves, just as it magnified upward moves as Tesla’s share price rose last year.\nIf you Google \"gamma squeeze\" you will find many articles describing how heavy call buying forces share prices up, but very few of those articles mention that the gamma squeeze works in both directions.\nSummary and Conclusion\nThere is a large volume of deep-in-the-money call options purchased during Tesla’s share price run-up last year that will expire June 18th. This option expiry may precipitate selling as the option positions are closed and market makers remove their delta hedges. This will put downward pressure on the share price as the options expire. Further downward pressure is likely as the September and January options move towards expiry.\nOptions trading is not the only factor that determines share prices but combined with other factors that appear to be pressuring Tesla’s share price at present, I think this would be a good time to take profits if you hold a long position, and don’t be tempted to buy the dip if the share price drops over the next few weeks.\nA note about data source and possible inaccuracies\nAll the information used to develop the charts, calculations, and conclusions in this article has been downloaded fromThe Options Councilwebsite. The information has some flaws which limit the accuracy of the data.\nOption open interest is posted on the site daily before the market opens. The information posted is total open interest, not net open interest. If someone holds a long call and someone else holds a short call of the same strike and expiry, those positions will post as two open interests. That introduces inaccuracy in the data because we don’t know how much of the stated open interest is long and how much is short.\nHowever, I believe that most of the long-dated deep-in-the-money calls will be long positions and the conclusions are valid.\nI hold a very small position in July puts.","news_type":1},"isVote":1,"tweetType":1,"viewCount":665,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":191856568,"gmtCreate":1620871136954,"gmtModify":1704349594000,"author":{"id":"3555714711589487","authorId":"3555714711589487","name":"KayYangYan","avatar":"https://static.tigerbbs.com/72f9d2b886df81a2726002cf381bf82e","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3555714711589487","authorIdStr":"3555714711589487"},"themes":[],"htmlText":"Is it really for the environment? Felt cautious about the whole grand scheme of things.","listText":"Is it really for the environment? Felt cautious about the whole grand scheme of things.","text":"Is it really for the environment? Felt cautious about the whole grand scheme of things.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/191856568","repostId":"1123539919","repostType":4,"repost":{"id":"1123539919","pubTimestamp":1620863433,"share":"https://ttm.financial/m/news/1123539919?lang=&edition=fundamental","pubTime":"2021-05-13 07:50","market":"us","language":"en","title":"Elon Musk says Tesla will stop accepting bitcoin for car purchases, citing environmental concerns","url":"https://stock-news.laohu8.com/highlight/detail?id=1123539919","media":"CNBC","summary":"TeslaCEO Elon Musk said Wednesday on Twitter that Tesla has \"suspended vehicle purchases using bitcoin,\" out of concern over \"rapidly increasing use of fossil fuels for bitcoin mining.\". The price of bitcoin dropped about 5% in the first minutes after Musk's announcement.In an SEC filing in February, Tesla revealed that it bought $1.5 billion worth of bitcoin and it may invest in more of bitcoin or other crypto currencies in the future.At that time, the company said it would start accepting bitc","content":"<div>\n<p>TeslaCEO Elon Musk said Wednesday on Twitter that Tesla has \"suspended vehicle purchases using bitcoin,\" out of concern over \"rapidly increasing use of fossil fuels for bitcoin mining.\"\nThe price of ...</p>\n\n<a href=\"https://www.cnbc.com/2021/05/12/elon-musk-says-tesla-will-stop-accepting-bitcoin-for-car-purchases.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Elon Musk says Tesla will stop accepting bitcoin for car purchases, citing environmental concerns</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nElon Musk says Tesla will stop accepting bitcoin for car purchases, citing environmental concerns\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-13 07:50 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/05/12/elon-musk-says-tesla-will-stop-accepting-bitcoin-for-car-purchases.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>TeslaCEO Elon Musk said Wednesday on Twitter that Tesla has \"suspended vehicle purchases using bitcoin,\" out of concern over \"rapidly increasing use of fossil fuels for bitcoin mining.\"\nThe price of ...</p>\n\n<a href=\"https://www.cnbc.com/2021/05/12/elon-musk-says-tesla-will-stop-accepting-bitcoin-for-car-purchases.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://www.cnbc.com/2021/05/12/elon-musk-says-tesla-will-stop-accepting-bitcoin-for-car-purchases.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1123539919","content_text":"TeslaCEO Elon Musk said Wednesday on Twitter that Tesla has \"suspended vehicle purchases using bitcoin,\" out of concern over \"rapidly increasing use of fossil fuels for bitcoin mining.\"\nThe price of bitcoin dropped about 5% in the first minutes after Musk's announcement.\nIn an SEC filing in February, Tesla revealed that it bought $1.5 billion worth of bitcoin and it may invest in more of bitcoin or other crypto currencies in the future.\nAt that time, the company said it would start accepting bitcoin as a payment method for its products.\nSupport for cryptocurrency from Tesla contributed to the prices of cryptocurrencies, including bitcoin and dogecoin, skyrocketing in recent months.\nHere was Musk's full announcement:\n\"Tesla has suspended vehicle purchases using Bitcoin. We are concerned about rapidly increasing use of fossil fuels for Bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel. Cryptocurrency is a good idea on many levels and we believe it has a promising future, but this cannot come at great cost to the environment. Tesla will not be selling any Bitcoin and we intend to use it for transactions as soon as mining transitions to more sustainable energy. We are also looking at other cryptocurrencies that use <1% of Bitcoin's energy/transaction.\"\nMainstream investors and some corporate buyers including Tesla,Square,Metromileand Nexon haveflocked to bitcoin, viewing the digital currency as a potential inflation hedge while central banks print money to relieve coronavirus-distressed economies.\nMajor Wall Street banks like Goldman Sachs and Morgan Stanley have also sought to provide their wealthy clients with bitcoin exposure.\nBut some investors, like Softbank founder Masayoshi Son, still aren't buying in to the crypto craze.\n\"There's a lot of discussion over if it's a good thing or a bad thing, what's the true value or is it in a bubble. Honestly speaking, I don't know,\" Son said at a recentearnings conference.\nWhile Tesla said it would not accept bitcoin for vehicle purchases on Wednesday, Musk specified that Tesla plans to hold rather than sell the bitcoin it already has, and would be looking into other cryptocurrencies that require less energy for transactions.\nDuring the first quarter of 2021, Tesla bought $1.5 billion worth of \"digital assets,\" then sold $272 million worth. According to a financial filing from Tesla on April 26,profits from bitcoin salesspecifically allowed the company to notch a $101 million \"positive impact\" toward profitability.\nMusk has been a very public fan of bitcoin and dogecoin, tweeting and joking about these with his millions of Twitter followers over the past year.\nThis past weekend, the Tesla chief made his hosting debut on \"Saturday Night Live\" and devoted part of his opening monologue and one sketch to talking up dogecoin. Instead of helping drive up the price of the meme-inspired token, dogecoinactually tanked 30%over the course of the hour that Musk was hosting SNL.\nDuring a frenzied sell-off at that time, the popular trading platform Robinhood experienced an outage in its crypto trading.\nFollowing Musk's announcement on Thursday, Dallas Mavericks owner Mark Cuban said that the team will continue to accept bitcoin and other crpytocurrencies because \"we know that replacing Gold as a store of value will help the environment.\"","news_type":1},"isVote":1,"tweetType":1,"viewCount":375,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":191855556,"gmtCreate":1620871199275,"gmtModify":1704349597068,"author":{"id":"3555714711589487","authorId":"3555714711589487","name":"KayYangYan","avatar":"https://static.tigerbbs.com/72f9d2b886df81a2726002cf381bf82e","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3555714711589487","authorIdStr":"3555714711589487"},"themes":[],"htmlText":"Is it really for the environment? Feel cautious on the grand scheme of things!&nbsp;","listText":"Is it really for the environment? Feel cautious on the grand scheme of things!&nbsp;","text":"Is it really for the environment? Feel cautious on the grand scheme of things!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/191855556","repostId":"1123539919","repostType":4,"repost":{"id":"1123539919","pubTimestamp":1620863433,"share":"https://ttm.financial/m/news/1123539919?lang=&edition=fundamental","pubTime":"2021-05-13 07:50","market":"us","language":"en","title":"Elon Musk says Tesla will stop accepting bitcoin for car purchases, citing environmental concerns","url":"https://stock-news.laohu8.com/highlight/detail?id=1123539919","media":"CNBC","summary":"TeslaCEO Elon Musk said Wednesday on Twitter that Tesla has \"suspended vehicle purchases using bitcoin,\" out of concern over \"rapidly increasing use of fossil fuels for bitcoin mining.\". The price of bitcoin dropped about 5% in the first minutes after Musk's announcement.In an SEC filing in February, Tesla revealed that it bought $1.5 billion worth of bitcoin and it may invest in more of bitcoin or other crypto currencies in the future.At that time, the company said it would start accepting bitc","content":"<div>\n<p>TeslaCEO Elon Musk said Wednesday on Twitter that Tesla has \"suspended vehicle purchases using bitcoin,\" out of concern over \"rapidly increasing use of fossil fuels for bitcoin mining.\"\nThe price of ...</p>\n\n<a href=\"https://www.cnbc.com/2021/05/12/elon-musk-says-tesla-will-stop-accepting-bitcoin-for-car-purchases.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Elon Musk says Tesla will stop accepting bitcoin for car purchases, citing environmental concerns</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nElon Musk says Tesla will stop accepting bitcoin for car purchases, citing environmental concerns\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-13 07:50 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/05/12/elon-musk-says-tesla-will-stop-accepting-bitcoin-for-car-purchases.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>TeslaCEO Elon Musk said Wednesday on Twitter that Tesla has \"suspended vehicle purchases using bitcoin,\" out of concern over \"rapidly increasing use of fossil fuels for bitcoin mining.\"\nThe price of ...</p>\n\n<a href=\"https://www.cnbc.com/2021/05/12/elon-musk-says-tesla-will-stop-accepting-bitcoin-for-car-purchases.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://www.cnbc.com/2021/05/12/elon-musk-says-tesla-will-stop-accepting-bitcoin-for-car-purchases.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1123539919","content_text":"TeslaCEO Elon Musk said Wednesday on Twitter that Tesla has \"suspended vehicle purchases using bitcoin,\" out of concern over \"rapidly increasing use of fossil fuels for bitcoin mining.\"\nThe price of bitcoin dropped about 5% in the first minutes after Musk's announcement.\nIn an SEC filing in February, Tesla revealed that it bought $1.5 billion worth of bitcoin and it may invest in more of bitcoin or other crypto currencies in the future.\nAt that time, the company said it would start accepting bitcoin as a payment method for its products.\nSupport for cryptocurrency from Tesla contributed to the prices of cryptocurrencies, including bitcoin and dogecoin, skyrocketing in recent months.\nHere was Musk's full announcement:\n\"Tesla has suspended vehicle purchases using Bitcoin. We are concerned about rapidly increasing use of fossil fuels for Bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel. Cryptocurrency is a good idea on many levels and we believe it has a promising future, but this cannot come at great cost to the environment. Tesla will not be selling any Bitcoin and we intend to use it for transactions as soon as mining transitions to more sustainable energy. We are also looking at other cryptocurrencies that use <1% of Bitcoin's energy/transaction.\"\nMainstream investors and some corporate buyers including Tesla,Square,Metromileand Nexon haveflocked to bitcoin, viewing the digital currency as a potential inflation hedge while central banks print money to relieve coronavirus-distressed economies.\nMajor Wall Street banks like Goldman Sachs and Morgan Stanley have also sought to provide their wealthy clients with bitcoin exposure.\nBut some investors, like Softbank founder Masayoshi Son, still aren't buying in to the crypto craze.\n\"There's a lot of discussion over if it's a good thing or a bad thing, what's the true value or is it in a bubble. Honestly speaking, I don't know,\" Son said at a recentearnings conference.\nWhile Tesla said it would not accept bitcoin for vehicle purchases on Wednesday, Musk specified that Tesla plans to hold rather than sell the bitcoin it already has, and would be looking into other cryptocurrencies that require less energy for transactions.\nDuring the first quarter of 2021, Tesla bought $1.5 billion worth of \"digital assets,\" then sold $272 million worth. According to a financial filing from Tesla on April 26,profits from bitcoin salesspecifically allowed the company to notch a $101 million \"positive impact\" toward profitability.\nMusk has been a very public fan of bitcoin and dogecoin, tweeting and joking about these with his millions of Twitter followers over the past year.\nThis past weekend, the Tesla chief made his hosting debut on \"Saturday Night Live\" and devoted part of his opening monologue and one sketch to talking up dogecoin. Instead of helping drive up the price of the meme-inspired token, dogecoinactually tanked 30%over the course of the hour that Musk was hosting SNL.\nDuring a frenzied sell-off at that time, the popular trading platform Robinhood experienced an outage in its crypto trading.\nFollowing Musk's announcement on Thursday, Dallas Mavericks owner Mark Cuban said that the team will continue to accept bitcoin and other crpytocurrencies because \"we know that replacing Gold as a store of value will help the environment.\"","news_type":1},"isVote":1,"tweetType":1,"viewCount":522,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":190795609,"gmtCreate":1620651029801,"gmtModify":1704346108993,"author":{"id":"3555714711589487","authorId":"3555714711589487","name":"KayYangYan","avatar":"https://static.tigerbbs.com/72f9d2b886df81a2726002cf381bf82e","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3555714711589487","authorIdStr":"3555714711589487"},"themes":[],"htmlText":"Super excited about their financial results!&nbsp;","listText":"Super excited about their financial results!&nbsp;","text":"Super excited about their financial results!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/190795609","repostId":"103206422","repostType":1,"repost":{"id":103206422,"gmtCreate":1619712000000,"gmtModify":1706625312580,"author":{"id":"3570687182203069","authorId":"3570687182203069","name":"阿里巴巴集团","avatar":"https://static.tigerbbs.com/ffa1823fc08bc3fee51c887d0a36f268","crmLevel":0,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3570687182203069","authorIdStr":"3570687182203069"},"themes":[],"title":"Alibaba Group Will Announce March Quarter 2021 and Full Fiscal Year 2021 Results on May 13, 2021","htmlText":"April 30, 2021 Alibaba Group Will Announce March Quarter 2021 and Full Fiscal Year 2021 Results on May 13, 2021","listText":"April 30, 2021 Alibaba Group Will Announce March Quarter 2021 and Full Fiscal Year 2021 Results on May 13, 2021","text":"April 30, 2021 Alibaba Group Will Announce March Quarter 2021 and Full Fiscal Year 2021 Results on May 13, 2021","images":[],"top":1,"highlighted":2,"essential":1,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/103206422","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":321,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":107826730,"gmtCreate":1620468003820,"gmtModify":1704344145543,"author":{"id":"3555714711589487","authorId":"3555714711589487","name":"KayYangYan","avatar":"https://static.tigerbbs.com/72f9d2b886df81a2726002cf381bf82e","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3555714711589487","authorIdStr":"3555714711589487"},"themes":[],"htmlText":"Great ariticle, would you like to share it?","listText":"Great ariticle, would you like to share it?","text":"Great ariticle, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/107826730","repostId":"1170905579","repostType":4,"repost":{"id":"1170905579","pubTimestamp":1620462497,"share":"https://ttm.financial/m/news/1170905579?lang=&edition=fundamental","pubTime":"2021-05-08 16:28","market":"us","language":"en","title":"The real story of the Trump-Facebook saga","url":"https://stock-news.laohu8.com/highlight/detail?id=1170905579","media":"Yahoo Finance ","summary":"It’s not this complicated.Like other bumbling corporations reluctant to take a stand, Facebook and i","content":"<p>It’s not this complicated.</p><p>Like other bumbling corporations reluctant to take a stand, Facebook and its CEO, Mark Zuckerberg, have turned a temporary controversy into an ongoing fiasco. The social-media giant could have permanently banned then-President Donald Trump on Jan. 7, after he used the platform to lie about the 2020 election and praise rioters trying to seize control of the US Capitol the day before. Trump and his supporters would have squealed, but decisive action by Facebook would have left them no choice: Deal with it.</p><p>Instead, Facebook (FB) suspended Trump’s account “indefinitely,” while asking the company’s “oversight board”—a group of outside policy experts—to recommend a permanent solution. On May 5, the board “upheld” Facebook’s decision to exile Trump, but it alsodinged Facebook for the arbitrary application of vague standards. Instead of handing the company a simple answer, it told Facebook to come up with a permanent solution of its own within six months.</p><p>Have you ever watched an overwrought parent try to negotiate with a misbehaving five-year-old? Instead of telling the kid to stop being a brat, the parent tries to persuade the child why it’s important to stop being a brat, hoping the child will stop being a brat because he sees the light and learns an important life lesson in the process. You want to shout, “just tell him to stop it!”</p><p>This is what’s going on with Facebook and its oversight board. Facebook is trying to dodge responsibility for making a decision sure to be unpopular with some of its users. The oversight board, relishing its own perceived importance, issued an11,800 word communiquethat didn’t resolve anything. The real answer is painfully obvious: Facebook should permanently ban anybody who’s a chronic liar and violence inciter. Yet nobody in Faceworld can say it.</p><p>Let’s quickly review what’s really happening in the Facebook saga, by annotating the motives of the key players. It won’t take thousands of words.</p><p><b>Donald Trump.</b>He wants the largest possible audience for his propaganda, includinghis lies about the 2020 election being stolenfrom him. Trump is a wannabe despot whoclaims persecutionto distract followers from his aberrant behavior and his election losses. It also helps him raise money from gullible sympathizers. As a private-sector entity, Facebook has the right to boot users who cause the company trouble, which Trump clearly did. There’s no free speech or First Amendment issue at all, because Trump is still free to publish his own views on a platform of his own. If it were a free speech issue, Facebook could cite the First Amendment to declare it faces no obligation to publish anybody's views, just as a newspaper doesn't have to run government manifestoes. Trump's claim of “censorship” is ridiculous, but it obviously keeps him in the news and fires up his supporters.</p><p><b>The Trump cult.</b>Echoing Trump,other Republican politiciansclaim Facebook and other social-media sites single out conservatives for “censorship.” They’re mixing up cause and effect. Election lies and other disinformation are now a staple of the Trump wing of the Republican party, and these lies trigger retaliation by the companies hosting the offending accounts. If Trumpers lied less, social media would “censor” them less. Most of them know this, but “censorship” gives them a bogus cause that helps generate outrage among their followers and juice their own campaign contributions.</p><p><b>Mark Zuckerberg.</b>The Facebook CEO cares about making money above all, and there’s not necessarily anything wrong with that. Zuckerberg wants to outsource the decision about Trump so that he and the company don’t seem to be directly responsible for an outcome likely to anger millions of conservative Facebook users. He may also want to have plausible deniability the next time he testifies before Congress, so that when a Trump lackey such as Rep. Jim Jordan (R., Ohio) tries to pillory Zuckerberg for persecuting Trump, Zuckerberg can say, “it wasn’t me.” It’s not clear Facebook is actually losing money because of the Trump feud, but even if it is, Zuckerberg has miscalculated by failing to account for other damage caused by allowing the Trump debacle to fester.</p><p><b>Democrats.</b>They don’t like Facebook either, but Sen. Elizabeth Warren and other Facebook critics on the left have a different gripe:Facebook abuses user dataand hastoo much powerin the digital advertising market. Facebook has few friends in Congress, but it does have one important thing going for it: The company’s Republican and Democratic critics are so divided that they may never agree on any legislation that reins in the company’s power.</p><p>There’s only one way the Facebook-Trump saga can end: A permanent Trump ban. Trump will never stop lying, and any negotiated return to Facebook would only restart the cycle. Around the same time Facebook indefinitely banned Trump, Twitteraxed his account permanently. It didn’t drag out the decision or ask somebody else to decide for it. Twitter (TWTR) is no longer explaining or relitigating its Trump decision, which is where Facebook might be in a year or two. It has already taken too long.</p>","source":"yahoofinance_sg","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The real story of the Trump-Facebook saga</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe real story of the Trump-Facebook saga\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-08 16:28 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/the-real-story-of-the-trump-facebook-saga-145941882.html><strong>Yahoo Finance </strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>It’s not this complicated.Like other bumbling corporations reluctant to take a stand, Facebook and its CEO, Mark Zuckerberg, have turned a temporary controversy into an ongoing fiasco. The social-...</p>\n\n<a href=\"https://finance.yahoo.com/news/the-real-story-of-the-trump-facebook-saga-145941882.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://finance.yahoo.com/news/the-real-story-of-the-trump-facebook-saga-145941882.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1170905579","content_text":"It’s not this complicated.Like other bumbling corporations reluctant to take a stand, Facebook and its CEO, Mark Zuckerberg, have turned a temporary controversy into an ongoing fiasco. The social-media giant could have permanently banned then-President Donald Trump on Jan. 7, after he used the platform to lie about the 2020 election and praise rioters trying to seize control of the US Capitol the day before. Trump and his supporters would have squealed, but decisive action by Facebook would have left them no choice: Deal with it.Instead, Facebook (FB) suspended Trump’s account “indefinitely,” while asking the company’s “oversight board”—a group of outside policy experts—to recommend a permanent solution. On May 5, the board “upheld” Facebook’s decision to exile Trump, but it alsodinged Facebook for the arbitrary application of vague standards. Instead of handing the company a simple answer, it told Facebook to come up with a permanent solution of its own within six months.Have you ever watched an overwrought parent try to negotiate with a misbehaving five-year-old? Instead of telling the kid to stop being a brat, the parent tries to persuade the child why it’s important to stop being a brat, hoping the child will stop being a brat because he sees the light and learns an important life lesson in the process. You want to shout, “just tell him to stop it!”This is what’s going on with Facebook and its oversight board. Facebook is trying to dodge responsibility for making a decision sure to be unpopular with some of its users. The oversight board, relishing its own perceived importance, issued an11,800 word communiquethat didn’t resolve anything. The real answer is painfully obvious: Facebook should permanently ban anybody who’s a chronic liar and violence inciter. Yet nobody in Faceworld can say it.Let’s quickly review what’s really happening in the Facebook saga, by annotating the motives of the key players. It won’t take thousands of words.Donald Trump.He wants the largest possible audience for his propaganda, includinghis lies about the 2020 election being stolenfrom him. Trump is a wannabe despot whoclaims persecutionto distract followers from his aberrant behavior and his election losses. It also helps him raise money from gullible sympathizers. As a private-sector entity, Facebook has the right to boot users who cause the company trouble, which Trump clearly did. There’s no free speech or First Amendment issue at all, because Trump is still free to publish his own views on a platform of his own. If it were a free speech issue, Facebook could cite the First Amendment to declare it faces no obligation to publish anybody's views, just as a newspaper doesn't have to run government manifestoes. Trump's claim of “censorship” is ridiculous, but it obviously keeps him in the news and fires up his supporters.The Trump cult.Echoing Trump,other Republican politiciansclaim Facebook and other social-media sites single out conservatives for “censorship.” They’re mixing up cause and effect. Election lies and other disinformation are now a staple of the Trump wing of the Republican party, and these lies trigger retaliation by the companies hosting the offending accounts. If Trumpers lied less, social media would “censor” them less. Most of them know this, but “censorship” gives them a bogus cause that helps generate outrage among their followers and juice their own campaign contributions.Mark Zuckerberg.The Facebook CEO cares about making money above all, and there’s not necessarily anything wrong with that. Zuckerberg wants to outsource the decision about Trump so that he and the company don’t seem to be directly responsible for an outcome likely to anger millions of conservative Facebook users. He may also want to have plausible deniability the next time he testifies before Congress, so that when a Trump lackey such as Rep. Jim Jordan (R., Ohio) tries to pillory Zuckerberg for persecuting Trump, Zuckerberg can say, “it wasn’t me.” It’s not clear Facebook is actually losing money because of the Trump feud, but even if it is, Zuckerberg has miscalculated by failing to account for other damage caused by allowing the Trump debacle to fester.Democrats.They don’t like Facebook either, but Sen. Elizabeth Warren and other Facebook critics on the left have a different gripe:Facebook abuses user dataand hastoo much powerin the digital advertising market. Facebook has few friends in Congress, but it does have one important thing going for it: The company’s Republican and Democratic critics are so divided that they may never agree on any legislation that reins in the company’s power.There’s only one way the Facebook-Trump saga can end: A permanent Trump ban. Trump will never stop lying, and any negotiated return to Facebook would only restart the cycle. Around the same time Facebook indefinitely banned Trump, Twitteraxed his account permanently. It didn’t drag out the decision or ask somebody else to decide for it. Twitter (TWTR) is no longer explaining or relitigating its Trump decision, which is where Facebook might be in a year or two. It has already taken too long.","news_type":1},"isVote":1,"tweetType":1,"viewCount":600,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}