This week of stock trading was quite up and down. I was able to realize a profit, but I have some losses coming up that are going to be painful if a couple stocks don’t turn around (Looking at you AMD!).
So without further ado, let’s take a look as this past week’s stock trades.
Buy: SPCE Oct 30 2020 $24.5 Call @ $1.20
I bought these calls after Benzinga alerted me to a large increase in the volume of these contracts. The price was cheap enough to take a flyer on it.
Sell: SPY Oct 09 2020 $335 Call @ $6.40
The market saw a nice bump after Trump was released, so that gamble I took last Friday paid off nicely. I sold half my position in these calls to lock in some gains and reduce my overall cost basis. Now I can sell the remainder at anything over $1.60 and still make a profit
Buy: TIF Nov 20 2020 $125 Call @ $1.55
This was another trade made from a Benzinga alert. Someone bet around $1 million on Tiffany, so I followed suit.
Trump was nice enough to fix the market fiasco he caused when he decided to stop negotiating a stimulus package on 10/6 by signaling that he was open to smaller standalone proposals. PRPL hit a new high and I was tempted to sell out the remainder of my stake, but I decided to hold on as I thought it should hit $30 soon. I still haven’t seen any news as to why the price has been increasing since I identified a volume spike last month. Costco also hit a new high, really kicking myself for not raising my bid price when it was under $350 a share…
Sell: SPY Oct 09 2020 $335 Call @ $8.50
Sold the rest of my position here as it seemed like SPY was starting to stall and I didn’t want to risk losing some value if the market opened lower on Friday.
Buy AMD Oct 09 2020 $90 Call @ $0.86
I bought these right before the AMD presentation of their Zen 3 CPUs, thinking the stock would continue to run up. sadly, it peaked at $88.72 in the beginning of the presentation and fell the rest of the day. I still feel like this stock is going to push new highs soon, but this trade was a loss.
Buy GME @ $12.99
Sell GME @ $13.50
I bought these after GME started running up for the second time of the day, thanks to a new partnership with Microsoft. I sold them seconds before the market closed in case they pulled back on Friday. I could have held them for a bit longer and traded out in after hours, but I didn’t want to risk a loss.
Expired: AMD Oct 09 2020 $90 Call @ $0.86
Late Thursday night news broke that AMD was in negotiations to acquire Xilinx for $30 billion, so I had a sliver of hope my AMD calls would work out. However, the market decided it did not like this deal and dropped 5% in premarket. It never really recovered, so these options expired worthless.
|Ticker||Buy Price||Current Price|
|AMD Oct 16 $85 Call||$4.36||$1.49|
|BA Nov 20 160 Call||$13.20||$16.70|
|CLX Jan 15 200 Put||$7.70||$6.50|
|BBBY Dec 18 15 Call||$2.52||$6.95|
|SAP Oct 16 160 Call||$2.00||$1.15|
|PRPL Oct 16 25 Call||$0.75||$3.90|
|MKC Oct 16 180 Put||$1.92||$0.10|
|MKC Oct 16 210 Call||$1.54||$0.025|
|SPCE Oct 30 $24.5 Call||$1.20||$0.90|
|TIF Nov 20 $125 Call||$1.55||$1.48|
|Ticker||Buy Price||Sell Price|
|SPY Oct 9 335 Call||$4.00||$6.40|
|SPY Oct 9 335 Call||$4.00||$8.50|
|AMD Oct 16 $90 Call||$0.86||$0.00|
Weekly Gain (Realized):
|Week||Weekly Gain||SPY Weekly Gain|
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