As mentioned last week, the aborted test flight by Virgin Galactic caused the biggest headache for me. SPCE shares dropped most of the week. I still like the stock long term, so I continued to buy shares but the value of my call contracts did not survive. At least I had SONO to salvage the week.

12/14:

Buy: SPCE Apr 16 $30 Call @ $5.50
Buy: SPCE Dec 18 $28 Call @ $1.35
Buy: FDX Dec 18 $300 Call @ $7.50

The theme of me buying more SPCE started Monday with call options, although I pulled the trigger too soon. I should have waited another day to see where the price stabilized. I bought the FDX calls to back my bet from last week’s 2 Bulls podcast.

12/15:

Sold: NIO @ $41.93
Sold: EMR @ 81.50
Buy: SPCE @ $26.40
Buy: SPCE @ $26.00

I started running out of funds while I was trying to scoop up more shares of SPCE. I had to sell out of NIO and EMR to fund these purchases and so I could exercise my remaining options in BBBY and SONO later in the week.

Sold: SONO Dec 18 $17.5 Call @ $4.00
Sold: SONO Dec 18 $17.5 Call @ $5.00

I sold 60% of my SONO calls at $4.00 and less than an hour later, the stock started running again. I sold of another 20% at $5.00 and held the rest to exercise at the end of the week. I had to take a break for a bit after this to clear my head, as one can imagine.

12/16:

No Trades

12/17:

No Trades

12/18:

Exercised: BBBY Dec 18 Call @ $15.00
Exercised: SONO Dec 18 Call @ $17.50

I exercised both of these options as the bid price was below what the stock was actually trading at. This seems to be a common occurrence when trading options. I decided to hold them through the weekend as I was expecting a stimulus deal to get negotiated and figured these stocks should benefit from that.

Sold: FDX Dec 18 $300 Call @ $0.21

Ouch… Better than nothing I guess.

Expired: SPCE Dec 18 $28 Call
Expired: AMC Dec 18 $3.5 Call

Like these… Buying more of the SPCE calls is what turned my week negative overall. Maybe next week I’ll learn my lesson.

Active Positions:

TickerBuy PriceCurrent Price
CLX Jan 15 $200 Put$7.70$3.65
BBBY (exercised)$16.75$18.72
SAP$133.80*$127.34
SONO (exercised)$18.33$23.74
JWN $23.30$30.12
AMD$81.92$95.92
SPCE$27.91$23.84
CRM Mar 19 $250 Call$9.60*$9.02
SPY$333.22$369.18
SPY was added for benchmarking my performance
*SAP and CRM Calls buy price averaged over two purchases

Closed Positions:

TickerBuy PriceSell Price
SPCE Dec 18 $28 Call$0.95Expired
SPCE Dec 18 $28 Call$1.35Expired
SONO Dec 18 $17.5 Call$1.33$4.00
SONO Dec 18 $17.5 Call$1.33$5.00
AMC Dec 18 $3.5 Call$0.36Expired
FDX Dec 18 $300 Call$7.50$0.21
NIO$46.95$41.93
EMR$80.00$81.50

Weekly Gain (Realized):

WeekWeekly GainSPY Weekly Gain
12/18/2020-8.14%0.79%
12/11/20209.96%-0.96%
12/04/202011.32%1.70%
11/27/202012.68%2.35%
11/20/202016.66%-0.77%
11/13/202027.67%2.27%
11/06/20200.00%7.23%
10/30/20204.27%-5.56%
10/23/20208.71%-0.43%
10/16/2020-23.85%0.13%
10/9/20206.22%3.90%
10/2/202019.83%0.19%
Total14.36%10.79%

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