Options Portfolio Update – 2021-01-10
Current Long Options Swing Portfolio: $DBX, $FISV, $ON, $SRNE, $SURF
Newly Added: NONE
Profits Taken: $NIO
Friday was a good end to a good week. I am looking to hold at most 10 position, averaging around 8, in my swing portfolio.
I closed 8 positions for at least 40% profit in my swing account this past week ($DKS, $SIG, $ACB, $ON, $SNAP, $PINS, $FUV, $NIO). I sold two others for loss that I held over to 2021, but actually reduced the amount of the loss this past week ($FISV, $DGLY). So, even with these, I made out better than I have.
I re-entered two of the positions I took profits in ($ON, $FISV) and are in the green on both. In fact, only $SRNE is red at this time.
The hard thing with the end of last week was finding good entry points, especially for holding through a weekend, where anything can happen.
Taking Profits:
NIO
I picked up $NIO on Wednesday and, thanks to Friday’s gap-up, it hit my profit target, and then some, on Friday.
With the gap-up in pre-market beyond my target price, I re-adjusted that morning with a conditional order, where the bottom of the range was still more than my initial target, and the top was at the next fib resistance on up.
Unfortunately, it didn’t quite hit the upper target, but came close before getting stopped out for more than 40% on the bottom end.
Remaining Holdings
DBX
I picked $DBX earlier this past week, but at first, it stagnated along with many technology stocks. It woke up late in the week and is now about 8% green. Current price target is around 24.40. 23.50 is a midrange target if it stalls.
FISV
Financial stocks look to be stepping up to the play. Picked up a re-entry for $FISV below the 23.6 retracement this past week after recovering some of my losses from my previous round.
My target is 121.70, with a ‘stall’ target of 119.
ON
$ON treated me so well that I got right back in, as I see a lot more upside potential here. It will likely rise a little more before consolidating again, and my target is around 37.50.
SRNE
$SRNE is my lonely entry in the red going into the weekend. I’m looking for this to finish the month-long W pattern and make get in a positive gear.
For this, my target is around 8.70, with a stall target of 8.40.
SURF
I’m hoping to ride this $SURF wave up to a good profit target. Currently looking at a price target of around $12 for the current uptick.