top of page
Abstract Background

Trading Recap: 7/23

This last week was another good one. Not try jinx myself, but I haven't had a losing week in over 2 and half months. So far, I have a 300% return since then. So question is what has been working.


First, continuing to short AMC and GME by selling OTM calls. I have been laddering down strikes daily as the price continues to drop. This strategy seems to becoming to a close, especially on AMC, as premiums have continued to drop as volatility and volume have decreased. If you look at my previous post on AMC, you can see a more in depth description on the trading strategy. GME, still has some promise, so I will continue to short that by selling calls, as premiums at 240 strike , with the stock at it's current level, has EV.


Second, the trading range on TSLA is still locked into about a 100 point spread, so you can sell week ahead weekly options at strikes about ~150 points from current price levels with still overpriced premiums. This coming week , be careful about the earnings report. Because of this, premiums are quite juicy, as the market expects a big price move. I will taper my position around this, but the market seems heavy long .


Third, NVDA has been a great trade, as we own a lot of the underlying asset at a pre-split avg price at ~200. However, the split has dropped the price by 1/4, so there is going to be a lot tighter moves, and there isn't has much trading range to work with. I will continue to work around my underlying long position, but still think there is a range to work around in the 180-205 range.


Lastly, MRNA has been popping like crazy on Delta variant news. I have been squeezing this as well, but am heavier long, and going into next week I am very long, selling a lot of puts has the price continues to pop. I do have a hedge by selling a 400 strike call, but will gladly let the go and possibly buy a call as another hedge on the short play.



Recent Posts

See All

Tech Rally into Earnings

The market has ripped over the last few days, pushing higher into full bull territory . Tech has led the way, surpassing new highs with a...

Comments


bottom of page