[Options] Monthly Positions Review

Sean McLaughlin
March 3, 2021

This month, I'm going to start presenting these monthly reviews in a different way. I think what would be far more useful to all of you would be a review of all trades we exited in the previous month, as well as updates on any positions approaching expiration in the current month.

While we had a bunch of exits in February, we don't have any positions remaining on the books with March expirations. Let's get to it...

Positions with March Options that need attention:

(none)

Positions exited for a win in February:

$SYNA Feb/June 120 Call Calendar: We entered this trade on Jan 13th for a $4.50 debit. When it popped to the $120 strike on Feb 5, that was our signal to exit and book our gain. We exited at $9.30.

$XRT March Iron Condor: Coming out of the first pop/crash of $GME, the implied vol in these options which track the retail sector was incredibly high. It was too irresistible to ignore. We entered on Feb 1 for a $2.33 credit and we were able to cover it quickly on 2/11 for $1.10 as the volatility rapidly faded.

$SNAP April 45/65 Bull Call Spread: We entered this trade on Nov 25 for a $4.75 debit. It started off great, then hit a consolidation period from mid December through the end of February. Then the trend resumed and we were able to exit at our profit target of $12.50 on Feb 5.

Positions exited for a loss in February:

$CRSP, $LPSN, $AAPL, $PLTR, $CHD, $PTON, $ATUS, $NVDA (all hit our stop losses levels)

$KO (expired worthless)

If you have any questions, please send them here.

~ @chicagosean

P.S. We do trades like this regularly. If you'd like to leverage Best-in-Class technical analysis into smarter directional options trades, try out All Star Options Risk Free!

 

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