Options Portfolio Update – 2021-02-04
Current Long Options Swing Portfolio: $BTG, $CCL, $CLR, $GOCO, $HBI, $HL, $KALA, $NI, $PCG, $SOLO, $SRPT
Newly Added: $SURF, $UTZ
Profits Taken: $ACB, $PINS
Stop-Loss Activated: NONE
Day Trade: NONE
$BTG, $CCL, $CLR, $GOCO, $HBI, $HL, $KALA, $NI, $PCG, $SOLO, $SRPT, $SURF, $UTZ, $ACB, $PINS
This week has been … well, a week. Not talking about the market, but definitely have been distracted. Was t-boned Sunday morning and as of yesterday, the insurance company decided that my vehicle was totaled. I was 3 months from having it paid off and was looking forward to at least some time without any car payments. The good news is that what I get will pay the loan and give me a decent amount for a down payment. The bad news is .. well, down payment and a new loan.
But, with that aside, the last couple of days has seen my overall portfolio go up a good amount (almost 10%). Both the stock and options side of the account were up about the same.
A couple tickers that I had put in limit orders earlier in the week reached down to my entry point. And, I took profits on a couple, as well.
I’ll be continuing to look to trim a little more before the weekend. And, there are a couple of holdings that may just make the decision for me and hit their targets tomorrow.
Day Trade:
NONE
Taking Profits:
ACB
This one developed a little slow for my taste, but I left the original orders in place and $ACB hit its target yesterday (Wednesday) for a 110% win.
There was a little time during this where I was red, but it never fell through the support that would have been a warning signal. Just a little patience and I was rewarded.
PINS
Though I came away with a nice 62% win, I could have walked away with a bit more if I adhered to my plan. I saw the gap up this morning and tried to grab a little more, which didn’t happen, as $PINS fell down after the open and didn’t get back to those levels until after earnings were reported.
But, the plan was to be out of it before earnings, and I was out with about 28 seconds to spare before the market closed. Now, if I wasn’t filled, I could be looking at even a larger payday, but the plan was to never hold through earnings.
Activating Stop Loss
NONE
New Holdings
UTZ
This ticker was one that showed in a FinViz scan of mine earlier this week, and in looking at the charts, I saw what I felt was a good entry point under the 161.8 and a touch under the 21 day EMA, which has been good support.
I was rewarded with a brief dip yesterday morning and it has been green since. I have a target around 25.
SURF
I had a play in $SURF earlier in the year that yielded a win of about 35%. Again, the chart setup looks good with it consolidating above a 61.8 fib, using it as support. My entry was a little below this line, which never really came to fruition, but a dip in options value for a brief moment yesterday allowed me to pick this up.
The 55 day EMA is closing in on the bottom of the candles, and when this has been happening, it has resulted in the ticker moving higher. Looking for it to pop back to its 161.8 around 13.60 as my target.
Holdings
BTG
$BTG is holding the 50.0% extension. I’m looking for a move above this line to the next fib around 5.50 as my target.
CCL
$CCL has come alive the last couple of days with hopes for after pandemic life, as it starts to stair step its way up the fibs.
My primary target here is about 24. However, should it not quite have that energy, 22 is my stall target. I may elect to take the profits in this one off the table tomorrow instead of letting it ride the weekend.
CLR
$CLR climbed back above the 261.8 extension yesterday and held the line each of the last two days, with it starting to pull upwards most of today. I look for this to continue some strength into next weeks, with earnings the following Tuesday (16th) after the market closes.
The targets for this still remain the same, with a primary target around 25.50.
GOCO
On Tuesday, $GOCO came up through resistance at a ‘double fib’ and is not moving higher off of that as support.
My target is just under a 38.2% retracement at 16.20, with a stall target around 15.10.
HBI
$HBI looks to finally have some energy as it came through a ‘double fib, with the upper bounds at 15.66, and once it did, it stayed above that and used it for support today. It does have earnings next week, so I’ll be looking to get out before it reports.
My current price target is a stall target around 16.50. If it shows more strength, 17.70 could be back into play.
HL
$HL dipped to start the day but came back to the 50.0 retracement for the last couple hours of the day. I’m looking for this to move to the beginning of that retracement (about 7.00). It would help if the play on silver can be re-ignited, but I’ll be looking for this to show some more strength on its own soon.
KALA
$KALA had life today, jumping up some and letting itself be known. This is still meant to be a long-term play, but if it hits target earlier, so be it. It looks to have energy right now with a catalyst in play.
My current target is a little north of 10.
NIO
Yesterday, $NIO stepped up through strong resistance at a ‘double fib,’ which it has held since then. In pre-market today, I was looking up a little, but it quickly came down to that level as support.
Needless to say, this play has been frustrating, but it hasn’t hit its exit points. $NIO has had very low volume during this pullback, and I want to see what happens when volume comes back in. Will it pop like we expect?
Trying to be patient, but, at the same time, time decay is my enemy here.
PCG
Since hitting strong support last week, $PCG has been steadily moving up a bit each day since. Though still not green, it is looking a little better each day. The price closed at 12 today, which is a key price. If it continues through this, it should have some life and have a chance to move closer to target.
I currently have my order set at a stall target around 12.60. Should it show energy, I’ll set it back to the primary target. But, it needs to convince me to do so.
SOLO
$SOLO was one of my long term plays, but it may not last too much longer. It has definitely come to life and has been spiking up a bit, moving through resistance with strength.
The next line of resistance is at 9.69. After that, a straight shot to my target of 10.40 should be quick.
SRPT
Still looking for this to fill at least part of the huge gap in December, but in the meantime, it is moving up a fib step at a time each day the last couple of days. That bodes well for getting something out of this. Looking for this to continue in this, else I may need to cut my immediate losses.