Alright, so I was back onto trading today and made some changes to my position to prepare for upcoming events tomorrow.
- ASTR - I fully took profit on my 5c position on this opting to choose the OTM 7.5 to optimize my profit heading into tomorrow’s catalyst of the launch attempt. This play for me is primarily about the anticipation for the launch and is not really about the success of the launch itself. While I may hold one or two of my 11 calls through the launch, I will take profit of the majority of this position beforehand.
- CVS - This was a callout from VC about the bearish state of the company. They’re overinflated still from COVID and their earnings are not going to be great for the near future, thus the thesis is that they should track downward. I agree with this however I’ve chosen to take a further out put on this play to give myself some time.
- ESSC - Cut it, these calls are bleeding and the sentiment isn’t quite there at the moment to turn it around. There are some catalysts upcoming and the accumulation is still there, but I think my money is probably best used in other plays. I used the proceed from this sale to add to my ASTR position.
- SENS - The little play that could. We called out entries to this on the 24th of January when it was trading in the lower $2.00 range, since then it’s climbed to almost $4.00 in such a way that everyone should’ve been super green throughout its run. Really happy for all those that took part in it and super proud of everyone that I’ve seen cashing out gains. – I exited this position because the CPI data may temporarily cause SPY to come down tomorrow and I think that after the data there might be better entries. Regardless, I’m not going to hold that large of a position through a catalyst that could wreck my options so it was time to cut.
Streaming went pretty well today, I personally think I’m too quiet and need to converse and interact more. That should also be a bit easier now that all the bugs seem to be sorted out with the stream, etc. If you have any questions or comments don’t hesitate to let me know.
Today I was up +12%, up +33% overall on the week & on account.