Just the limit I’ve set for myself, depending of course on how it moves in the next few months. If my limit is hit and the future looks good I might leave a few contracts (5-10) to see if they make any additional cash for me. I think a better feel for the future might get setup by the upcoming earnings which is right around the corner May 11. Thankfully with the Leap even if it’s bad this quarter the money will live to fight for 2 more quarters.
I added one Jan 2024 250 Leap @ 1.21. No more buys for me LOL! I hope LOL!
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I meant more what’s the date cuttoff before you’re not longer profitable on jan 250c @ a $160 underlying
Sorry bro I totally misread your question, yeah looks like October is the cutoff. So still have some room for a move up. Insert Pepepray
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Just sneaked a peek at the port at work and the Jan 2024 Leap is doing nice, up 13% today from my buy in this morning. I meant to buy two and only bought one. Oh well. Hakuna Matata
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Just wanted to update to the Jan 2024 250 Leaps, I picked up two more one at 1.07 and one at .96. Market looking spooky, Putin drinking a lot of vodka, maybe even juicier fills ahead.
So we are knocking on Mickey’s Dungeon, the 113 level has approached quickly.
A drop under the 113 sends us to the dungeon and the next level is double digits. A key line I’ve noted is the 106.86. A break below this level would be a potential breakout below the massive descending channel that Disney has been in. Dominatrix Minnie awaits in the dungeon…
My contract totals as of today are:
Jan 2023 250 x 60 contracts (.23 Cost Average)
Jan 2024 250 x 3 contracts (1.08 Cost Average)
So the door to the dungeon (113 level) was tested today, must be wooden and spring loaded because it pushed the price back out of the dungeon entryway, today at least. Excited to see what tomorrow brings in either direction.
I’m heading down to the mouse house tomorrow to scope the feel of the parks. I’m not sure if it’s anything but when we went to book the annual tickets many of the tiers were sold out. The only tier available was the lowest tier that has blackouts. Sounds bullish, hoping it’s a small sign of good performance for this upcoming earnings.
Happy for tomorrow, hopefully it’s a confirmation we are in the dungeon to stay for a few days maybe even approach the 105? The 105 line is tomorrow’s intersection of the bottom descending channel line Disney has been in. Whether it approaches and bounces or approaches and breaks through 105 I have orders awaiting.
The 105 level would bring possible .08-.10 fills on the 2023 250 Leaps and an educated guess of .80 range fills for the 2024 250 Leaps.
So the trip to Disney on Thursday felt like COVID never happened in regard to the people enjoying the parks. Seeing people in lines waiting for food, drinks, rides, reservation restaurant seating and spending at the gift shops end of day has left me with some more optimism for earnings, even though this is not a earnings play. I’m hoping that this first earnings does however bring an opportunity to cash out the initial investment and hopefully some good initial profits.
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Been a crazy few days, looks like the Mouse is stuck in a 7 day channel going in and out of the dungeon. After todays sell off will be interesting to see if the Friday EOD sell off is more pronounced. I kinda am hoping there is more of a sell off to maximize my average down.
I did breakdown and picked up 10 @ .13 for the 250 2023 Leap. Taking the total to 70 contracts.
Good day in the dungeon so far, hoping the EOD sell off is just as great and Dominatrix Minnie whips us thru the weekend. I tweaked my Goofy Orders I had set, I replaced my 250 Jan 2023 45 @ .01 for some 280 Jan 2023 45 @ .01 as it has hit a couple times in the past week. Also replaced the Goofy order of 250 Jan 2023 10 @ .07 for 280 Jan 2023 10 @ .07. Hopefully EOD they get filled.
Put another order for 80 @ .01 280 Jan 2023.
Crazy day today didn’t sell off enough at the EOD to move the fills. I did get a fill on my 280 Jan 2023 10 @ .07. I’m happy with that getting filled for sure. The last Goofy fill I have pending is the 280 Jan 2023 125 @ .01. It’s a crazy Goofy order, if it hits I’ll truly have the bottom of one of the ladder rungs.
Earnings coming up this week (May 11 Wednesday Afterhours), hoping to get the opportunity to unload a nice chunk of these contracts, especially the 280’s. If earnings are bad it’ll be an opportunity to gather more but for sure I’ll be grabbing more of the the 2024 Leaps as they are already really nice priced, with bad earnings they should go into discounts that you normally have to wish upon a star for. The biggest possible wildcard I think is Putin still. Hopefully May 9 is just a big disinformation campaign of unrealized victory. Alright hope everyone has a good weekend!
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Putting this here as I have a small ER position for this week. Per Bloomberg tweet in twitter channel
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Nice! Thank you @bigglyoptionoligist I’m hoping it’s a good Earnings as well to begin some initial and hopefully early profit taking. A good earnings would speed this long play up for me, which I wouldn’t mind at all.
New Dr. Strange movie did excellent at the box office. Good news for Disney and theaters… But likely won’t move anything today with the negative macro pressure.
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Wooo! I wanna go see it! Keep hearing good things. Wasn’t able to help the cause at the theater this weekend.
Alright we are getting closer to the bottom of the descending channel as seen above. $3 away from a bounce or breakdown straight through.
I just realized Wednesday is gonna be a busy day, CPI before Market Open and Earnings for the Mouse Afterhours. Should be a wild day either way. Good CPI plus good earnings may give the calls Dumbo ears to fly high. Bad CPI and bad earnings should present amazing fills for Leaps through the chain.
Happy Earnings Eve!
Thought I’d post this showing an increase in Disney+ subscribers and what some think are the main drivers to the decrease in $DIS share prices:
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A nice article at WSJ:
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