Electric Avenue

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It’s one of those days the market just can’t make up its mind. On the one hand is the truth that we’re in the midst of an economic cataclysm from which we’ll never recover. On the other hand is the venal, vapid Fed pushing trillions of dollars of fiat cash down our throats. So we’re going nowhere for the moment.

Tesla got shaken up yesterday after my post. Let’s take a fresh look at three electric car makers and notice how many lights years they are away from their lower Bollinger Bands.

slopechart TSLA
slopechart NKLA
slopechart NIO

Even though Tesla hasn’t even moved that much between yesterday and today, look how swiftly the far out-of-the-money calls have dropped. Keep in mind these don’t expire until October 16th (and, weirdly, there are even call options available with strikes above $3,000!)