Options Portfolio Update – 2021-01-21
Current Long Options Swing Portfolio: $AAPL, $DBX, $ED, $HBI, $JMIA, $KALA, $PCG, $SOLO, $SRPT
Newly Added: $ACB, $NI, $NIO
Profits Taken: NONE
Stop-Loss Activated: NONE
Day Trade: NONE
$AAPL, $DBX, $ED, $HBI, $JMIA, $KALA, $PCG, $SOLO, $SRPT, $ACB, $NI, $NIO
Today was another green day overall. Unfortunately, none of my options holdings hit targets to sell. But, another three opportunities that I had been watching off the watchlist hit entry targets.
I was able to offload the rest of my $ACST holdings this morning, selling them for over $1, while making more than 30% on them.
I also sold my $F stake around the high of the day, and then repurchased the entire lot back in the after-hours for 67 cents less than I sold them for. So, I nice little 6% pocketed, and I still get to ride the stock. (In all honesty, this is one of my ‘keepers’ that I have, so the plan was to buy them back.) I used a Fibonacci play on this that worked out the same day. I’ll do a writeup on this one later.
But, in general, it was a good day, and as the $SPX hit a new all-time high, so did my account.
Day Trade:
NONE
Taking Profits:
NONE
Activating Stop Loss
NONE
New Holdings
ACB
As pot stocks are a bit ‘depressed’ at the moment and likely being set up for another little run, $ACB is one that hit my entry target today, reaching under the 78.6 extension during the day.
With that said, the stock took a bit of a hit after hours with news of an offering. So, I will have to watch how this impacts the action tomorrow and early next week to determine whether or not I want to keep this play or to take a loss and move on.
NI
I got $NI off the watchlist, which has been there a couple of weeks. This has been trading in a channel for the last year, and I was looking to take advantage of buying at the bottom of the channel and selling at the top.
Once back up above the 23.6 retracement (22.13), it should have room to start running to the top of the channel around $25.00.
NIO
Okay, who doesn’t have an EV play in their portfolio right now. This actually makes a 2nd one for me, with $NIO being the more likely one to make a good move.
Within a couple minutes of the market opening, I heard the sound of this order for this going through, as it started the day around my entry target. It didn’t take long for it to gain some steam and jump back up above the support around 57.20.
Holdings
AAPL
Another day, another good move for $AAPL. It appears to be making a run to pop through the top of its ascending triangle. As earnings are coming up, I’ll be watching this to determine exactly when to jump out. But, for the moment, I have my limit order set for my target. If I hit, I may use some of the profit for a lotto play in next week’s earnings.
HBI
$HBI was flat today but with more price action than yesterday. The ticker is squeezing on multiple time frames and is ready for a move. It is playing in such a narrow band for multiple days that when it breaks out, it is likely to move big.
SRPT
The price for $SRPT is swinging throughout the day. But, it finished about even with where it finished yesterday. I still look at this to cover at least a portion of the gap down within the next week or so. I entered this one as a lotto play, so that is how I’m playing it.
DBX
$DBX started the day lower, bounced off key fib support, and rode the VWAP the rest of the day. I’d like to see this break above key resistance at 22.28 and hold sometime in the next few days.
ED
Upgrades and downgrades seem to be a way for big firms to manipulate stock prices for what they want to buy and what they want to sell. Downgrade something to lower the price to buy it. Upgrade something to sell it at a higher price.
$ED was downgraded today and was trading a little lower all day. Today was earnings after hours, and it was announced that the dividend would be increased a little. I’ll see how that and other news from its earnings impacts it over the next day or so. I’ll feel more comfortable if it breaks through the fib resistance at 69.83 and also holds above 70 for a day or two.
JMIA
$JMIA was a bit of a laggard for much of yesterday and the first part of today. And then, it jumped. It turns out that everyone’s ‘favorite’ shorter (Citron) came out and stated that even though there are some shortcomings, they have no issue with $JMIA. Right about then, the stock popped.
KALA
$KALA was flat once again throughout the day, playing just north of the 23.6. However, even though there wasn’t news, the stock jumped. I’m interesting to see what this means for tomorrow.
PCG
$PCG fell under previous support and now as the 38.2 as resistance. But, it did hold the 23.6 beautifully and stayed around the middle of that channel. Though I gave a little extra time in this play, as compared so many others, I would like to see something positive here.
SOLO
$SOLO seemed to finally get some market love in the EV space today as it busted through the ‘double resistance’ lines around 7.70, planting itself firmly above those levels. The next strong resistance levels are around 10.50. It would be interesting if it can get there.