Thread by @Fatty_Trades

Someone asked on YouTube if I could review $TSLA data going into the week, so here it goes. Hope others who trade it regularly find it helpful.

$TSLA #Vanna data shows cumulative Vanna positive until 185, at which point it goes negative and would repel moves lower as IV rises with price dropping (within the vanna curve). Positive Vanna around price and above will increase volatility until that point.

Looking at $TSLA Gamma we see dealers assisting moves through 195 and 197.50 due to negative gamma with 200 being a positive gamma which will act as resistance (support if broken). #Charm is slightly more negative which is slightly more bullish.

Combining all dealer hedging requirements with IV as-is on $TSLA shows dealers becoming meaningfully short starting around $191 (very neutral at current price of $196.40). Moves higher make very little difference.

@Tradytics net flow shows both call premiums and put premiums dropping (selling to open or buying to close). The 2-day delta/price correlations show a better chance to the upside with high volatility (large swings up and down). DP data seems to be pretty neutral.

$TSLA is always such an odd name to review data for. It's always a mixed bag. Dealers are still short, which traditionally means upside, however $200 shows dealers resisting moves higher. It's tough to gain a clear edge from the data when it's conflicting...

Historical $TSLA delta correlations would tell us upside is favored but gamma/vanna/charm combined show dealer selling with the "$VIX-like" calculation at 71. It does indicate that this asset is very volatile and means big swings both up and down.

In this case, if i were to focus on trading $TSLA, I would be relying heavily on price action concepts and watching how we react at $200 and $195 in particular. Probably not very helpful, but $TSLA is a very unique asset.