To The Moon

On November 12th, two large bullish option trades printed in $Coinbase Global, Inc. (COIN)$ - buying the February 21st $230 calls for $221 million, and the February 21st $320 calls for $111 million. Upon verification, these were part of a combined roll, with the actual activity being:Close (Sell-to-Open) $COIN 20250221 230.0 CALL$ Roll (Buy-to-Open) $COIN 20250221 320.0 CALL$ Tracing back their rolling history, shockingly this firm has rolled their COIN calls 7 times in under 2 months. Let's review these 7 rolls, using it as an opportunity to explain three frequently asked questions:What is a roll?Identifying

Lilium said Thursday its German subsidiaries will apply for restructuring in the "next few days" following its failure to obtain 100 million euros in funding from the German government's KfW investment bank.The electric aircraft maker said the company's competitors in the US, UK, France, China and Brazil had received government support and such backing was seen as "as critical to retain market confidence and potential future investment."Subject to court approval, the company is filing for what it described as self-administration, a type of insolvency that would preserve the business under current management subject to the supervision of a custodian.The company said the German procedure is used to initiate investment or sell company assets, including, potentially, the entire business."We hope that the Lilium Jet will get a chance for a fresh start after the self-administration process is completed," said Chief Executive Klaus Roewe.Shares of Lilium were up more than 13% in Friday's pr

Lilium said Thursday its German subsidiaries will apply for restructuring in the "next few days" following its failure to obtain 100 million euros in funding from the German government's KfW investment bank.The electric aircraft maker said the company's competitors in the US, UK, France, China and Brazil had received government support and such backing was seen as "as critical to retain market confidence and potential future investment."Subject to court approval, the company is filing for what it described as self-administration, a type of insolvency that would preserve the business under current management subject to the supervision of a custodian.The company said the German procedure is used to initiate investment or sell company assets, including, potentially, the entire business."We hope that the Lilium Jet will get a chance for a fresh start after the self-administration process is completed," said Chief Executive Klaus Roewe.Shares of Lilium were up more than 13% in Friday's pr

$Tesla (TSLA)$Following earnings, institutions rolled their Tesla covered call positions higher:Sell $TSLA 20241101 262.5 CALL$ Buy $TSLA 20241101 282.5 CALL$ Given Tesla's history of volatile moves, I conservatively sold the $250 calls last week against my stock holdings - matching the short call strike of the institutional covered call trade as a hedge. This cautious approach paid off as shares pushed through $250.But now with stock potentially being called away, what's the best course for next week's positioning?Based on the new $262.5/$282.5 call spread, dealers seem to be pricing a likely move to $260 for

On Thursday, $Nvidia (NVDA)$ call options saw an explosion in opening activity, with 16 different strikes seeing over 10,000 contracts traded.Two key expirations stood out:The largest trade was a 41,000 contract opening buy in the December 20th $110 calls, likely an add-on to the "Million Dollar Man's" existing position.A massive purchase across the March 21, 2025 upside strike chain, focusing on far out-of-the-money calls.Let's analyze whether these enormous trades signal continued bullishness on Nvidia.$NVDA 20241220 110.0 CALL$ Regular readers will be familiar with the "Million Dollar Man" who rolled his calls up to the December $120/$110 call spread back on August 30th, open