Options Portfolio Update – 2021-01-21
Current Long Options Swing Portfolio: $ACB, $DBX, $ED, $HBI, $KALA, $NI, $PCG, $SOLO, $SRPT
Newly Added: $CRSR
Profits Taken: $AAPL, $JMIA
Stop-Loss Activated: NONE
Day Trade: NONE
$ACB, $DBX, $ED, $HBI, $KALA, $NI, $PCG, $SOLO, $SRPT, $CRSR, $AAPL, $JMIA
Friday had mixed results, but overall, had a green day with the portfolio.
When I looked at pre-market pricing for positions, everything looked flat, it didn’t take much time for $JMIA to pop up out of the gate and hit my limit order target. It moved so fast that I didn’t even have a chance to cancel that and put in a trailing stop to try to ride it higher. But, still, 60% is always good, especially for only a few days.
I took profits on $AAPL where it seemed to be having resistance with the intention to get back in after it bounced off. I took more than 100% profit on the position, but it never did bounce back for another try. It ended up staying there that time and pushed its way up and higher. I am looking for a re-entry in the morning to play through sometime before market closes on Wednesday.
Other positions were a mix and mostly flat for the day.
I did pick up $CRSR on a pull-back around the low of the day.
Day Trade:
NONE
Taking Profits:
JMIA
As mentioned above, $JMIA popped and blew through my target before I even knew it was running. The limit order executed, and I did have a 60% profit. Though I could potentially have made a lot more for how it ran on Friday, I’m not going to worry about it. I have had too many tickers sell at my target, which ended up being highs of the day. So, from my strategy, there is always a risk of not maximizing profits, but that seems to be the exception, not the rule. $JMIA was an exception, and congrats to everyone who had a big day there on Friday.
AAPL
I saw $AAPL having trouble busting through a fib line on my chart and was looking for a typical pullback from there. So, I sold at that level (for over 100% profit) with the intention of getting back in when it reached the VWAP. However, it never pulled back, and instead went higher.
I’m looking to get back into $AAPL on Monday to ride the pre-earnings momentum.
Activating Stop Loss
NONE
New Holdings
CRSR
I was able to pick up CRSR on a dip for a good entry at a ‘double fib’ for support, and from there, it moved higher again. From a target standpoint, I’m looking for a modest win, as there is a lot of resistance at the top of the channel, around 42.50.
Holdings
ACB
Like many in $ACB, I didn’t like the stock offering they had, which pulled shares down. The good news is that it held support at the new lower level around the pricing of the offering. I’ll see how the market absorbs this and moves forward. And sustained drop under 10.50 could be a signal to get out.
DBX
After the layoff news and a couple of downgrades, it has stabilized around being flat for my holdings. If it doesn’t get back above 23 by mid-week, I will likely cut this loose.
ED
I am thankful that I planned this to be a longer play, as I wasn’t’ sure when it would move. After a rough start with the rest of the market being down early, it steadily moved up all day, but didn’t hit the levels I want to see. I really want to see this break 70 soon to have some confidence that it has some power.
HBI
$HBI was flat again, still trading in a very narrow channel for much of the week. The daily high/low price action is in such a narrow range over the last week that something has to give soon.
KALA
Similar to $HBI, $KALA is keeping its price action into a narrow channel, but not quite as narrow. This is another case where I look for this to gain some momentum and push up through the resistance on its upside soon.
NI
Like many tickers, $NI was pressured down to start the day, but by the end, was slightly green … ever so slightly. Looking for a ride to the top of the channel, and it is currently at the support levels of previous dips to the bottom of the channel. So, should be green from here.
NIO
EV stocks like $NIO had a good day Friday. With its move back up, it is currently showing a good amount of green. Should it get through the resistance level at a little under $63, I’ll have to watch the price action around my target about halfway between that and the 52-week high.
PCG
$PCG hit the full retracement through early December and bounced nicely off it on Friday. Even though it was down for the day, it was good to see. I am looking for it to climb over 12 again this week to show some level of strength and go from there.
SOLO
$SOLO is another EV play that got a boost on Friday, after it had a good Thursday. It is starting to lift from its support around 7.70. I have my initial target at the next strong resistance around 10.50. If it gets there, this could be a really nice win.
Otherwise, I’ll be looking at the two intermediate resistance levels around 8.75 and 9.60 and seeing if price action stalls out or whether it wants to move through them in little time.
SRPT
After the initial run ups with this after getting it, it has been consolidating a little. I’m looking to see what it does here to see how long I want to stay in before collecting my wins thus far.