Comment by jjav
> I have over $100k in Tesla puts.
I also have Tesla puts but that is brave!
While extremely overvalued by any metric, Musk has also been somehow able to keep the stock flying high for years and years on the force of hyperbolic lies (full self driving only a few month away forever) which most of the market keeps believing. It's a fascinating counterexample to the idea that the stock market can't be fooled.
So I only keep a few puts at a time because the hype surrounding the stock tends to outlive the expiration on the options. Every now and then I cash in big when it has a nice drop though.
It's almost a meme stock at this point. Trying to time a market reckoning is very difficult because investor interest is highly decoupled from fundamentals.