Elon Musk, chief executive officer of Space Exploration Technologies Corp. (SpaceX) and Tesla Inc., speaks during an event at the SpaceX launch facility in Cameron County, Texas, U.S., on Saturday, Sept. , .
Bronte Wittpenn | Bloomberg | Getty Images
Tesla ‘s stock has piqued the interest of professional and retail traders alike as they try to capitalize on the electric car maker’s wild swings.
Shares of the Elon Musk – led company have posted moves of at least 1% in (of the trading days this year through Friday’s close. By comparison, the S&P 500 has recorded just five moves of that magnitude in 2020.
These moves – including a 30 .9% surge on Feb. 7. 3 – Propelled Tesla to record highs. But it hasn’t been all good news for the stock. Tesla has had five declines of at least 1% this year, including a 23. 2% plunge on Feb. 5. The stock also fell 0.4% in volatile trading on Friday after Tesla priced its $ 2 billion secondary stock offering at $ per share .
CNBC talked to professionals trading Tesla’s swings. Here’s how they’re doing it.