Elon Musk tweeted today he wanted to take TSLA private for $420/share and he had funding secured. Whether or not this is legal, he for sure had the stock going crazy squeezing shorts. The stock hit $387.46 before closing at $379.57. The stock was halted this afternoon due to the action but it didn’t slow it down. As this is one of the most shorted stocks in the market, it’s hard to say how bad short will get squeezed. We also cover having undefined risk when selling calls and the benefits of selling defined risk spreads.
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