Categories
Kyle Hedman Trade Log

Weekly Trade Log: 2/01/21

With the Mother of all Short Squeezes on the precipice of being Squoze, I realized some very large gains on the week

An extremely volatile week, but one that ended with the biggest gains I’ve seen since I started keeping this log. After this situation is finally resolved, I may have to set away from the markets for a few days so I can reset my expectations. 40% in a week is not normal and can lead very quickly to bad decisions if I lose focus and start chasing jackpots.

01/25:

Sell: SPCE Apr 16 $30 Call @ $10.50
Sell: LOGI Feb 19 $100 Call @ $6.00
Buy: NNDM Feb 19 $17.5 Call @ $2.00
Buy: NNDM @ $17.65

I sold out of half my remaining SPCE calls and the last of my LOGI calls to lock in some impressive gains to start the week off. I probably sold out of SPCE too soon, but I was happy with that price point. I bought into NNDM to back up my bet pick for the week as well.

Buy: GME @ $148.85
Buy: GME @ $155.68

Here’s the first big mistake of the week. I was trying to trade on the GME momentum, and the second buy was supposed to be a trailing stop sell. Unfortunately for me, I entered it as a buy instead of a sell and doubled my position right before trading was halted on volatility. when it resumed, it dropped to half that price… I did a deeper dive into what was driving the stock’s incredible movement and decided to ride it out a little longer.

01/26:

Sell: SPCE Apr 16 $30 Call @ $15.50
Sell: SPCE @ $42.32
Sell: SPCE @ $42.50
Sell AMD @ $95.00

I closed out about 2/3rds of my SPCE position as I didn’t think it was going to maintain this valuation for very long. I figured I’d be able to buy back into it a lower price, but I never really got the chance again, but I’m sure I’ll have more opportunities in the next few weeks. I also moved out of my AMD position just before they released earnings as planned, and that was definitely the right move. I will be buying AMD when it’s price stabilizes again, as I was really impressed with their earnings report.

01/27:

Buy: AMC @ $10.50
Buy: AMC @ $16.95
Buy: AMC @ $12.70

I loaded up on AMC after seeing that all the most heavily shorted stocks on the market where seeing some impressive upward momentum. I probably should have dumped them at over $20 early in the day, but I really want to see what happens if the MOASS (Mother of all Short Squeezes) in GME happens. If margin calls start forcing all those shares to cover, I’m guessing a ton of these heavily shorted stocks are going to hit big.

Sold: GME @ $220.20
Buy: GME @ $265.00

Second mistake of the week happened in after hours. The wallstreetbets subreddit went dark and then the shares tanked hard. I panic sold, as I thought maybe everyone was cashing in at this point, but it looks like it was some tricky stock manipulation going on. Once I realized what was going on, I jumped back in. I have limit sell orders set for these shares now from $990 up to $9990. Next week should be interesting to say the least.

01/28:

No Trades. All my focus at this point was on GME.

01/29:

Buy: VXX @ $21.00

The first sane move I made after falling into the GME mania was to purchase this ETN that tracks volatility. I figure the market is going to react one way or the other when GME is finally resolved, and this seemed like the safest way to make money on it. The VXX jumped to over $75 last March when the market dropped out, and it seems almost guaranteed to move again soon. If nothing else, I’ll just be holding it until the next market correction.


Active Positions:

TickerBuy PriceCurrent Price
BBBY $18.36*$35.33
SAP$133.80*$126.20
SONO $18.33$26.15
JWN $23.30$35.45
SPCE$26.71*$44.29
GME$265.00$325.00
NNDM$17.65$13.74
AMC$14.50*$13.26
VXX$21.00$21.08
CRM Mar 19 $250 Call$9.60*$5.65
NNDM Feb 19 $100 Call$2.00$1.10
SPY$333.22$370.07
SPY was added when the log began for benchmarking my performance
*SAP, BBBY, SPCE, AMC and CRM Calls buy price averaged over two purchases

Closed Positions:

TickerBuy PriceSell Price
SPCE$26.71$42.40
SPCE Apr 16 Call$5.50$10.50
SPCE Apr 16 Call$5.50$15.50
LOGI Feb 19 $100 Call$2.75$6.00
AMD$91.87$95.00
GME$152.27$220.20

Weekly Gain (Realized):

DateMy GainsSPY Gains
01/29/2144.71%-3.35%
01/22/2116.05%1.91%
01/15/21-2.64%-1.46%
01/08/2135.00%1.97%
2021 Total21.49%-1.02%
2020 Total16.22%12.20%
Total46.31%11.06%

More Like This

  • Organigram levels up!
    After Organigram announces a new partnership, Dan takes a closer look at OGI and what that means for both companies going forward.
  • OCGN: Experimenting with Covered Calls
    Kyle shares his experiences trading covered calls in Ocugen, Inc. (OCGN) over the last two weeks. But will there be profits?
  • 3 Bounce Back Stock Candidates Post Earnings Dip
    We look at three stocks that have to potential to bounce next week after their stocks fell post earnings.
  • Weekly Trade Log: 02/08/21
    After watching GME sink like a rock, I had to step away from the markets for a bit and figure out a plan to recover.
  • Weekly Trade Log: 2/01/21
    With the Mother of all Short Squeezes on the precipice of being Squoze, I realized some very large gains on the week
  • Weekly Trade Log: 01/25/21
    Two savvy moves in particular erase a bad bet from the previous week and take me back into the green for the year
  • Weekly Trade Log: 01/18/21
    Big gains from BBBY are negated when I repeat several money losing mistakes this week. When will I learn?
  • Weekly Trade Log: 01/11/21
    The trade log is back after taking a break over the holidays. Now we finally get to see how I finished the year against the SPY!
  • Weekly Trade Log: 12/21
    My first realized loss in a while, thanks to some emotional options trading on SPCE. An expensive lesson learned!
  • Weekly Trade Log: 12/14
    Stimulus gridlock and a failed test flight from Virgin Galactic on Saturday are setting the stage for a rough week coming up

Leave a Reply

Your email address will not be published.