| | | | We are starting off with our reentry of TSLA with the below trade we took on 6/17/2021:
Sell 1 TSLA 650 Jul23 Call @ 26.60
Buy 1 TSLA 650 Jul30 Call @ 31.55
We have hit our target and closed out the trade at a credit of 6.15.
Next, the grains trade we put on is doing well so far and we continue to hold.
Sell 1 ZC 760 Feb18 Call @ 22.125 pts
Sell 1 ZS 1600 Feb18 Call @ 32.625 pts
Sell 2 ZW 590 Feb18 Put @ 21.125
The ES futures and VIX trade we had on was managed by closing the VIX spread at a loss of -$170. We continued to hold the sold ES call as it was up around $800 at that time. We then added 1 Micro ES futures contract long at 4166 and sold 1 Micro ES futures put at the 4215 strike for 58 pts. This balances out our deltas while the premium comes out of those short calls. We will continue to add long delta to the position if SPY creeps higher but if she tanks, we will close the Micro ES long and the sold put at a loss of no more than $600 combined and look to keep the entire credit from the calls.
For those of you that are not aware, the ES futures is the standard e-mini contract for the S&P500. They released "micro contracts" which are 1/10 the size and mirror the big ES contract. This allows for more precise managing of your positions and you will see them used often in these trades. You can find out more about micro contracts here: https://www.cmegroup.com/trading/equity-index/us-index/micro-e-mini-futures.html#benefits
We are currently holding onto the position and will look to close probably before next week's update.
This week's trade we're looking at Coinbase. They recently went public and, shortly after, the price of bi.tcoin tanked taking this stock's price with it. Needless to say, shareholders are none too thrilled with the IPO's performance year to date. But cr.ypto is here to stay and we feel Coinbase has bottomed out from it's IPO high of $429. Stock is currently trading at 227 and we are looking to see if she stays bullish to neutral heading into her earnings in August. Here's the play:
Buy 1 COIN 230 Sept17 Call @ 22.72
Sell 1 COIN 240 Aug20 Call @ 14.60 (This is the corrected line)
We will be out prior to earnings and look to close at around a 20-30% gain or -40% loss, whichever comes first. |
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| | | | | Trade well,Benjamin – Market Monster Hunter |
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