What started out as a good week ended poorly thanks to the continued stimulus deadlock. Virgin Galactic had their test flight take place on Saturday, only to abort shortly after ignition due to a communications issue. That probably won’t be good for my SPCE options on Monday morning…
Sold: SPCE Dec 18 $28 Call @ $4.00
Buy: AMC Dec 18 $3.5 Call @ $0.36
I sold out 25% of my SPCE calls here to get my initial investment back. I figured this was a good way to hedge my bets against any unforeseen issues with the test flight scheduled for the weekend. Turns out that this was a good move. The AMC calls I bought was mostly just to mess with Dan on the latest episode of 2 Bulls in a China Shop. Not the best way to make investment decisions, but I figured it’d be worth the entertainment value if it didn’t work out.
Buy: GME @ $16.99
Sold: GME @ $15.10
My big blunder of the week. After looking at the short interest on GME, I started questioning my initial thought process that had me bearish on the earnings call. If I had stuck with my first instincts and shorted the stock, I would have done very well. I guess it’s karma for buying those AMC calls the day before…
Buy: CRM Mar 19 $250 Call @ $8.70
CRM dropped on Wednesday after stimulus woes affected the broader markets. I decided to double my initial bet here to give me a few more contracts to sell off on the next bump. Fingers crossed, these contracts are expensive!
Sold: SABR@ $11.30
SABR’s run finally came to an end and my 10% stop loss kicked in. I may look to buy back into them if they drop to the low $10s, they should bounce back once a new stimulus package gets worked out.
|Ticker||Buy Price||Current Price|
|CLX Jan 15 $200 Put||$7.70||$5.15|
|BBBY Dec 18 $15 Call||$2.52||$4.20|
|SONO Dec 18 $17.5 Call||$1.33||$3.40|
|SPCE Dec 18 $28 Call||$0.95||$5.10|
|CRM Mar 19 $250 Call||$9.60*||$8.68|
|AMC Dec 18 $3.5 Call||$0.36||$0.51|
*SAP and CRM Calls buy price averaged over two purchases
|Ticker||Buy Price||Sell Price|
|SPCE Dec 18 $28 Call||$0.95||$4.00|
Weekly Gain (Realized):
|Week||Weekly Gain||SPY Weekly Gain|
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