Options Portfolio Update – 2021-01-25
Current Long Options Swing Portfolio: $ACB, $CCL, $GOCO, $HBI, $KALA, $NI, $PCG, $PINS, $SOLO, $SRPT
Newly Added: $NIO, $AAPL (lottery play)
Profits Taken: $AAPL, $DBX, $ED
Stop-Loss Activated: NONE
Day Trade: NONE
$ACB, $CCL, $GOCO, $HBI, $KALA, $NI, $PCG, $PINS, $SOLO, $SRPT, $NIO, $AAPL, $DBX, $ED
I didn’t release a portfolio update yesterday as it was just sideways with nothing doing. Overall, it was a little red for the day, but no changes in positions.
Today, the markets sold off today, with the DOW, SPY, QQQ, and IWM all in negative territory. But, even without the likes of $GME or $AMC in my portfolio, I still found the overall portfolio up about 4.5% on the day.
Two tickers hit their targets and sold. $AAPL profits were taken before the earnings call. One ticker on the watchlist hit a good entry. And, I have a lottery play for tomorrow mornings in the after earnings aftermath for $AAPL.
Day Trade:
NONE
Taking Profits:
ED
After watching and watching $ED as it just lingered and lingered, it finally got some energy this week and started moving up. Yesterday, it ran a little and broke through a couple of resistance lines. Then, today, it ran more and hit my stall target and sold for a 42% win.
DBX
After $DBX teased the target line on January 11th, it fell back and gathered some energy for another run. And then, today, it not only ran, but had one of its largest green candles in a very long time, jumping about two and a half points during the day.
In that run, it passed a key resistance around 23.50 (78.6% extension, 50.0% retracement) and shot higher and reached its target just north of that for a nice 51% win.
I will likely come back to this ticker a bit later, as it may be in play for a takeover at some point.
AAPL
In Tuesday’s dip, I picked up a re-entry into $AAPL before earnings and I was not disappointed. Though I had a target based on Fibonacci after picking it up, it never quite got there. So, per plan, today’s play was to get as much from it as I could before taking the profit this time around.
As the day progressed, I wanted to do something before the Fed talked around 2PM, as you never really know what will be said and how the market will react. After all, it seems like when some government official speaks or tweets, the market has been reacting badly.
Shortly before then, $AAPL started another move up and I put a trailing stop on it and it sold around 2:15 as the market decided to go south after some comments. However, I was able to post a 110% win for a couple day turnaround.
Activating Stop Loss
NONE
New Holdings
NIO
As $NIO was off its highs from last week, I had put in a limit order just below some key support under a pair of close fib lines. That limit order executed this morning.
As the market went down later in the day, so did $NIO. Even though it closed a bit under the price where I picked up the options position, the option was still trading a bit higher.
I’ll be looking to sell this about the same point where I did last week, just above a 161.8% extension at 62.77.
AAPL
I was looking at taking some of my $AAPL profits for the earnings run-up to get some lotto plays. I had put in limit orders for one ‘cheap’ call and one ‘cheap’ put out-of-the-money for a play on bigger movement each way.
The put option was filled, while the call option was very close a couple times but could not get filled.
The primary goal is to put in a limit order to capture profits right off the opening bell if I can. So far in the after-market, the put looks like it might have been the winner of the two for odds of making some good profit. But, we’ll see what the morning brings us.
Holdings
ACB
$ACB captured some positive action early in the day before falling back with the market. It settled in a narrow range between a ‘double’ fib. And, even with the down market, it showed some strength pulling back above the lower line before close.
The original plan is still in play, with a target a touch above the next pair of fibs higher (12.70).
For this play, I’ll also continue to watch the news, as $ACB is still in the rumor mill for another pot stock merger, with $SNDL being a probable candidate.
HBI
$HBI awoke from some slumber today and bucked the market trend and pushed higher throughout the day, finishing just a few cents under its intraday high, on above average daily volume. This pushed it above a very strong resistance line that should now serve as solid support (around 15.60).
The plan is still the same. I look for this to move up and poke above the 78.6 retracement to about 17 before settling back in at the new levels for the next phase of consolidation.
GOCO
$GOCO was ap and down for the day, and my position finished slightly up. The market volatility definitely came into play today. It headed higher and then dropped with the market after the Powell spoke.
The plan is still the same. My exit is at the top of the channel around 16.25. Once it breaks through the next resistance up (@15.12), it should have a clear path to target.
KALA
$KALA has now finished higher on consecutive days with higher than average volume each day. Today, it shot up in the first part of the day and like many others, pulled back with the market.
However, this is a good sign that it is awakening, and it settled above key resistance lines. The plan is still the same, and with the extended expiration date, I’m waiting for the next set of catalysts for its move, or just any move up that it wants to.
I have my target just a little under a 261.8 retracement around 9.50.
NI
$NI was fell out of the gate today, but it really didn’t move overly much after the initial fall in the first hour, even after the fed spoke. The key is, what does it do from here?
$NI has earnings in the 2nd week of February, so I’m looking for this to start moving by mid next week at the latest.
PCG
$PCG is at the final point of taking the loss and moving on. It is at the final support fib now, and the opening bell could determine its fate from here.
PINS
Ugh. Bad day for $PINS. It bounced off key support early in the day but it is testing me. It reports earnings next week, so I’m looking for a bit of a run up with this like it has previously going into earnings.
Given today’s drop, I’ve pulled my target back to around the high earlier in January (about 76.88). The original plan was to look for a new high in the run-up. Depending on price action the next couple of trading days, the original target may get back in place, but, the stall target is now set.
SOLO
$SOLO had a sideways day, hopefully just getting some rest and energy for its next leg up. It held support with the 7.85 fib (and its pair at 7.65).
My play is still on with the 161.8 extension around 10.50 as the target.
SRPT
$SRPT was down again today, but it did finish higher than its opening price, which was good to see. It has been a rough couple of days as it retraces a bit, but it did bounce off the 23.6 extension at opening and held the 38.2 the rest of the day.
I’m looking for this gain energy and close a chunk of the gap from a few weeks ago. But, in the meantime, I’ve lowered my target to the most of 2020 extension’s 23.6% line at about 102.50.
This was a lottery play to start, so I do reserve the right to move that line up if this gains energy to smash lines on up.