Ok thank you for clarifying!
@nickspacemonkey Thank you for clarifying
Anyone holding 3sts ($0.008 atm) as a hedge? took a small punt which most likely will bomb. I’m a TSLA holder btw
Lol great minds:
I’m a TSLA hodler also.
Edit: I don’t think this was a good idea lol. This thing ain’t coming down.
Isn’t it recommended not to hold those kinda products for more than one day lol
Yes, but I’ve held 3LTS for several weeks, it just doesn’t return 3 times the leverage over more than a single day. In fact the long term performance of holding 3LTS is insane, obvs.
I think there is also alot more risk if the stock gaps the wrong way.
No harm trying to play the dips whilst going long imo. Market sentiment and stuff
trouble with not holding more than one day is the main move is always at the open. so when it does have that 15% jump it does it straight away and then the rest of the day maybe only a few % up/down. if you want to have the benefit of the leverage and bigger potential gains, you need to hold overnight it seems.
It has two main moves usually.
- First potential large move is whenever the stock market it is on opens, I can’t remember which european market it is on, but lets say it is 8:30AM on the LSE. It basically tends to move to match the variation in the Tesla price between 16:30 and closure. (Unless there has been some other big news since)
- Second potential large move is when the US markets open, around 14:30.
Note: All times are indicative, I have not confirmed them, and are meant to be UK time.
There is a second move at 2:30uk time yea when US market opens though it’s usually much smaller. I think it may also be the case that Tesla pre market price has already been factored in to a reasonable extent. I.e before US opens we have an idea if Tesla is moving much either way and so the price after the first jump at 8amUK time open u til 2:30 moves a bit to take that into account.
Hence you really need to hold it overnight otherwise missing the main movement and whole point of the 3x nature