[Options] December Positions Review
November 30, 2020
December positions closed for profits: $SNOW (11/19),
December positions closed at a loss: $IBB (9/8), $DHR (9/8)
Remaining Open Positions:
- $XLE Long Dec 29 Puts -- Nothing to do here. This bearish play ripped in our face. But... at least we were able to sell half of our position at a double back on October 2nd. So, while holding on to some bearish lottery tickets here (currently a 3 cent bid in these puts), at least we know that the worst case outcome for this trade is a scratch. This is always better than a loss!
- $DE Long December 210 calls -- This one is more like it! Big winner! We sold half of our position on August 21st to take our original risk off the table (like in XLE above). But unlike XLE, this one continued going in our direction. As I type this, $DE is trading north of $260 per share. We're going to keep a trailing stop behind the price action. Currently, the level I'm watching is $255. Any close below $255 and I'll exit the trade on the next trading day. I'll continue to look for opportunities to move my stop loss level up if/when $DE makes new highs. Let's hope it keeps going! We originally purchased these calls for $5.00 each. Gotta love this 10-bagger!
If you have any questions about these trades, email me here.
Try out All Star Options Risk Free!