Tesla Options And YEN CARRY UNWINDING Continue

Tesla Options And YEN CARRY UNWINDING Continue

Figure 1. Call options have increased dramatically again in the $200 range. Well, I’m worried that if this happens, on the other hand, the stock price is going to fall further

$200 call option
3.7K —> 5.31K

The stock is pulling under $200 as the position of options regroup at $200. $200 will be the resistance

Figure 2-3
The reason I saw it as conservative even if the stock price went up is because Tesla’s stock price flow is equally more exposed to the USD/JPY flow.

In the beginning, the consensus of CPI came out and MISS came out with 2.89% of HEADLINE CPI, but what I saw positively was that all but HEADLINE CPI came out in accordance with the consensus.

What I saw positively here was that if everyone had MISS, the U.S. economy would be very weak, and oil would fall a lot due to concerns about a recession, but I decided it wasn’t to that extent.

However, USD/JPY rose in the beginning and then fell again, continuing the UNWIND of YEN CARRY TRADING, and as we have analyzed in the past, growth stocks are now under downward pressure.

Figure 4. Even if the stock price rises for that very reason, we have to look conservatively for macro reasons.

From a supply-demand perspective, CONSUMER DISCRETION, where Tesla is located, continues to head towards the apex of LAGGING.

As the direction of the USD/JPY will continue to be determined according to the flow of USD/JPY, we should not let our guard down and continue to make probabilistic investments based on the macro.

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