There was a lot of movement to the upside today as predicted. We saw alot of movement on MRNA, AAPL, GME and AMC today.
Most of our long positions paid off but we had to scramble a little to create more value on all this vol today.
TLSA: TSLA swung to the upside today, we added on some more length early on , selling more put contracts. We still have a lot of room to before we hit the 770 Strike call we sold as part of a small hedge and squeeze. We are very heavy long here and will continue to monitor the position .
GME: GME started to pop from the open. We bought a call early on and then sold a lot of OTM calls against it at 380/390 strikes. GME dropped off towards the end of the day, so the call we bought ended up negative but we more than covered the cost of the purchase with the calls we sold against it. I still like the hedge with the long and we have a wide middle if it takes off.
AMC: AMC took off as well, and we bought some calls to try to hit some up swing. It followed suit with GME and tapered off, but we are pretty much B/E on the call at this point.
AAPL: This stock we have owned for a while. I sometimes sell covered calls with our huge long here, but have been just naked long on this stock. Really just won’t stop hitting new highs.
MRNA: This stock as predicted with the production issues, tanked super hard this morning. We added on our short by buying another put to help cover our long position we had by selling puts. We sold those off and MRNA started to rally.I sold more puts to add on to position and it seems to have found a decent bottom. Will keep an eye on this .
GOOGLE: I sold puts for a long position on this stock that are already pretty much at a zero value, completely capturing our value and making a 100% return on it.
Let’s see what happens tomorrow and will have a morning report for you.