Daily Options Portfolio Update – 2021-01-20

By | January 20, 2021

Options Portfolio Update – 2021-01-18

Current Long Options Swing Portfolio:  $AAPL, $DBX, $ED, $HBI, $KALA, $PCG, $SOLO, $SRPT

Newly Added:  $JMIA

Profits Taken:  $ZNGA

Stop-Loss Activated:  NONE

Day Trade:  NONE

$AAPL, $DBX, $ED, $HBI, $KALA, $PCG, $SOLO, $SRPT, $JMIA, $ZNGA

Overall, today was a good day.  Including the non-options, forever holding stocks that I have in my small account, the overall account was up over 3.5% today.   I was able to settle out one position for a nice win and get a good entry on another.

Day Trade:

NONE

Taking Profits:

ZNGA

$ZNGA finally sustained a peek over 10 and went up a bit more.   When it closed in on its target, I initiated a trailing stop where the initial minimum level was my target.  I was able to get a bit more out of it and came out with a 40% win.   

I’ll be watching this one for any new opportunities with it too.  

Activating Stop Loss

NONE

New Holdings

JMIA

I picked up $JMIA off my watchlist.   It is forming a cup and handle with good support at the 8 day EMA.  I was able to pick this up around the low of the day when it briefly hit the 8 EMA, which was slightly under the 61.8 retracement.

This should be good support for a run back up toward its 52-week high.   

Holdings

AAPL

I just picked this up at a good entry yesterday, and $AAPL is showing energy to the upside, and showed additional resolve upward after close.   I look for this to finish resolving the ascending triangle and make its next move up. 

155 could be in store, but if it stalls at the top of the triangle around 139, I’ll take that for a nice win too.

HBI

$HBI was flat today with little breadth in price action and finished slightly higher.  It played above the Fibonacci support and held.  I look for this to start moving higher soon.

SRPT

If I had a crystal ball, I would have taken a quick profit early in the day and then bought back in late in the day, which would have pocketed me 50% profit.   If only I could have the super power of seeing the future of the tickers, even if only a trading day or two in advance.

But, $SRPT looks as if it has good resolve to close that gap to the upside.   I don’t expect it to just jump back to where it was, but given its other price action over the last year, there are a few targets that I’m watching for the initial run.

DBX

$DBX finished higher today and is hanging around the break even area.   It looks to be consolidating before attempting another run up, which would result in a bullish W. 

If it breaks 23.50, it should take a run at the other side of the W, potentially breaking the 52 week high of 25.16.    My initial target for this is a little lower, at the 78.6 retracement around 24.40.

ED

$ED finally broke and held a key fib and stayed above 70 for a chunk of the day, finishing just pennies under that mark.  Tomorrow will show whether this is new support or whether it will have to consolidate some more.

KALA

$KALA was flat once again for the day-to-day close.  Again, it held above a key fib for the 7th consecutive day.  Looking to see if this consolidation will result in an upward trend.

PCG

$PCG moved back up some, and is now again slightly green.  There is A LOT of resistance and support where it is currently.  When it breaks 12.40, it should free up and start moving again.

SOLO

$SOLO is having some issues with resistance around 7.75.  It has been bouncing nicely off 7, and is now using the 8EMA for support.   This will either get above the resistance in a couple of days or it will start to fall again, as the 8EMA is now close to the fib resistance level.  I’ll be watching.