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No point in dwelling on last weeks results any more than I have to, so let’s just skip the recap and dive right in to this past weeks actions.

10/12:

Buy: TSM @ $90.74

TSM has had a lot of positive momentum since Apple bought up the rest of their 5nm processor production capacity. They report earnings on the 15th, and I decided to hold the stock rather than gamble on options.

Buy: WIT @ $5.40

WiPro was a stock Dan identified in our first edition of Friday Pick’em, and it finally started moving last week. They are scheduled to report earnings tomorrow, so maybe the smart investors know something?

Buy: FAST Oct 16 2020 $50.0 Call @ $0.42

Fastenal was seeing about a 25% jump in volume and steady price rise for most of October. It was cheap enough to make a bet on the stock hitting a new all time high after they released earnings the next morning

10/13:

Buy: JKS Oct 16 2020 $65 Call @ $3.00
Buy: WKHS Oct 16 2020 $24 Call @ $0.95

I bought JKS as they have been on a streak of hitting all time highs for the past week. WKHS was bought following large drop thanks to a USPS contract getting delayed. A Benzinga alert due to large volume made me think people were expecting a bounce.

10/14:

Sell: JKS Oct 16 2020 $65 Call @ $4.00

I sold half my position in JKS to lock in some gains after another all time high was set.

10/15:

Sell: WIT @ $5.00
Buy: SPY Oct 21 2020 $346 Call @ $3.47
Sell: SPY Oct 21 2020 $346 Call @ $4.25

I sold out of WIT after two consecutive days of dropping value to cut my losses. I bought the SPY calls early in the morning when it looked like the S&P500 wanted to go higher. I sold 2/3 of my stake after the bell to lock in some profit. With my ill fated AMD calls (among others) set to expire tomorrow, every little bit helps. TSM reported earning, but did not move in the direction I was hoping, even though it was a solid beat. I’m thinking I’ll hold onto these for a few more days and see if the rest of the investing world comes around.

10/16:

Expired: AMD Oct 09 2020 $90 Call
Expired: FAST Oct 16 2020 $50 Call
Expired: WKHS Oct 16 2020 $24 Call
Expired: SAP Oct 16 2020 $160 Call
Expired: MKC Oct 16 2020 $180 Put
Expired: MKC Oct 16 2020 $210 Call

Lots of expiring options today, the biggest of which was AMD… That one hurt big time, although all these other “cheap” flyers also are eating into my balance. I’m going to have to get a lot more selective with my option trading if I’m going to have any hope of being successful. I did try to sell some of these off, but they were worthless at this point. I almost sold out some more winning positions after looking at my G/L% at the end of the week.

Exercised: JKS Oct 16 $65 Call
Sold: JKS @ $69.03
Sold: TSM @ $86.86
Exercised: PRPL Oct 16 2020 $25 Call
Sold: TIF Nov 20 2020 $125 Call @ $3.50

Thankfully it wasn’t all bad news. I cut my losses on TSM since the stock was going the wrong way and I needed capital to exercise the PRPL options. I ended up short selling JKS since the bid on those contracts was less than market value. I exercised the contracts right after the short sell went through. I also managed to sell 20% of my TIF calls at over market value. Someone must have really wanted those contracts, to bad only half my order filled.


Active Positions:

TickerBuy PriceCurrent Price
AMD$75.20$83.17
BA Nov 20 $160 Call$13.20$15.38
CLX Jan 15 $200 Put$7.70$6.65
BBBY Dec 18 $15 Call$2.52$10.07
PRPL (Exercised)$25.75$31.32
SPCE Oct 30 $24.5 Call$1.20$0.99
TIF Nov 20 $125 Call$1.55$2.59
SPY$333.22$347.29
SPY was added for benchmarking my performance

Closed Positions:

TickerBuy PriceSell Price
TSM$90.74$86.86
WIT$5.40$5.00
SPY Oct 21 $346 Call$3.47$4.25
JKS Oct 16 $65 Call$3.00$4.00
JKS (Exercised)$68.00$69.03
TIF Nov 20 $125 Call$1.55$3.50
AMD Oct 16 $85 Call$4.36Expired
SAP Oct 16 $160 Call$2.00Expired
MKC Oct 16 $180 Put$1.92Expired
MKC Oct 16 $210 Call$1.54Expired
WKHS Oct 16 $24 Call$0.95Expired
FAST Oct 16 $50 Call$0.42Expired
F**k you AMD

Weekly Gain (Realized):

WeekWeekly GainSPY Weekly Gain
10/16/2020-23.85%0.13%
10/9/20206.22%3.90%
10/2/202019.83%0.19%
Total-12.88%4.22%
You win this round, SPY…

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