mrjaeger

I think $10M is right. The options cost $0.04 each yesterday (per the tweet), so spending $22,000 would get you 550000 options. Those options are now worth $18.30 (per the tweet) for a total value of ~$10M.

Broke Rule #2 of Matt Levine's "Laws of Insider Trading": "Don’t do it by buying short-dated out-of-the-money call options on merger targets."

That's actually the inciting incident for the cli-fi book "The Ministry for the Future". Overall I really enjoyed the book, was a good mix of interesting economic/policy ideas interwoven through a compelling character based narrative.

As is often the case, Matt Levine (writer of Money Stuff) had some fun hypothesising about how this might be actually part of his "plan".

'Tesla Inc. is the main source of Musk’s wealth, and his main goal in life is selling lots of Teslas. He has sold all the Teslas that he can sell to coastal elite liberals, and now he faces the daunting challenge of selling electric cars to social conservatives. Acquiring Twitter and turning it into a right-wing media company with himself as the main character might be bad for, like, Twitter ad sales, but that is small potatoes if it is good for selling Teslas to Republicans. “Our cars are electric, yes, but they are free from the woke mind virus” is perhaps a good pitch.'

I don't think Matt (or myself) put much weight into this being his true reasoning, but it's a fun thought exercise :)