Senator Tommy Tuberville's short bet on Tesla has backfired as the company's stock rallied past $250. Tuberville, known as one of the most prolific derivatives traders in Congress, bought $50k in Tesla $190 puts in November, which have now expired nearly worthless. He has also recently bought $20 puts expiring in June 2024 against the United States Steel Corp. Tuberville's trading activities have raised eyebrows as he sits on the Senate Commodity Subcommittee which oversees the steel industry. Meanwhile, Elon Musk's $45M investment in Tesla between May and October 2018 is now worth $515M, a 1050% return. In other Tesla-related news, the company is locked in a standoff in Scandinavia, plans to raise the hourly pay rate for workers at its Nevada battery factory by 10% or more in January, and is facing a tax rate increase in China from 15% to 25% from December 23rd. The company is also bracing for increased competition in China with promotions across all EV brands.
Tesla to raise pay for hourly Nevada Gigafactory workers in January — move could stave off union interest https://t.co/LDfqTn72TB
Tesla $TSLA is planning a 10% or higher hourly pay rate increase for some workers at its Nevada battery factory - CNBC
$TSLA | Tesla To Raise Pay For Hourly Nevada Gigafactory Workers In January - @CNBC https://t.co/P20UDsTnxE
Tesla to raise pay for hourly Nevada Gigafactory workers in January — move could stave off union interest https://t.co/nUgjJF71CU
Friendly reminder: $TSLA will see its tax rate rise from 15% now to 25% from Dec-23rd in China unless Shanghai gives Musk a "hall pass". It couldn't come at a worse time. Look at their market share in China as of Nov'23 & think about how much competition there'll be in 2024. https://t.co/uDuv5EOAo5
Promotions across all EV brands and models in China (40% global deliveries), excl. insurance, financing rebates (which r in op costs). Competition will rise in 24 implying accelerating cap raise & shareholder dilution, as most BEV OEMs have LSD gross margin. $TSLA $NIO $XPEV https://t.co/3ygeR9uwOm
Another blatant "How is this legal" trade Not only did Sen. Tommy Tuberville buy Puts on US Steel He also sits on the Senate Commodity Subcommittee which directly oversees the steel industry It's illegal for athletes to bet on games, but legal for Politicians to bet on… https://t.co/BxGbIIX4nC
$TSLA call buying program 252.5C 255C 257.5C 260C
Between May and October 2018, @elonmusk spent $45M on open market $TSLA stock purchases at an average cost of $22/share. They're worth $515M today; a 1050% return (relative to a 110% return of the Nasdaq over that period)
BREAKING: Senator Tommy Tuberville has just released NEW option trades against US companies. He just bought $20 puts expiring June 6, 2024 against $X, the United States Steel Corp, for $15k. He also closed or sold puts for $ABBV, $BMY, $AMAT, $AMAT, $MCHP, $OXY and $MSFT https://t.co/VVpZNXLK9R
$TSLA | Tesla Locked In a 'WWE-Like' Standoff In Scandinavia, Says Analyst: Why This Swedish Union Battle Is Important For The EV Giant https://t.co/inNagm8mnt
Senator Tommy Tuberville is one of the most prolific derivatives traders in Congress. He must have an extensive background in finance before politics: - Degree in PE (physical education NOT private equity) from Southern Arkansas University - Football coach - Started TS… https://t.co/LM4QTzjibH
Senator Tommy Tuberville bought puts against Elon Musk's Tesla in November. He bought $50k in $TSLA $190 puts. He also got options in $TXN, $KO, $X, $LPX & $AMAT. A US Senator had leveraged positions over companies they legislate. The puts, though, expired nearly worthless. https://t.co/8phDfOhlqP
$TSLA | Elon Musk Has Last Laugh? Senator Tommy Tuberville's Tesla Short Bet Backfires As Stock Rallies Past $250 https://t.co/kAxW8zPK5x