Zero sum game...SHOP collar

2017년 4월 14일

Dealing with the FOMO (fear of missing out) with SHOP. I had on a couple of occasions written ITM short puts (synthetic covered calls) and done well when this was in the 30s. It has run too far, too fast and I guess I feel like I missed this one. It hasn't made any money but even AMZN won't compete against them.....regardless if the overall market turns this name will be crushed. I took a position @ 66.76 and sold a 65 call and bought a 65 put out til Oct. This collar will make me almost no money if it is called away but can significantly reduce my cost basis if it rapidly declines. I would like to collect the 10.00 for the call and double the 7.00 for the put, the sooner the better for a 45ish cost basis. I stand to make .25 but due to the nature of my IRA rules this was the best way to get involved without taking too much risk.

2017년 5월 3일

노트

Unbelievable run by SHOP.....Decided to sell the put today for 2.65 that with the 10.00 for the call puts my breakeven @ 53ish. Still a long way to go but this name seems like a NVDA and will take my chances at the 53 price point. Selling put on a down day.....before there is nothing left.

2017년 6월 10일

노트

Waiting......waiting........waiting......To scarred to even think of jumping on this to the short side. Had a call credit spread 95/100 in a separate account that I luckily closed couple weeks ago on some unknown weakness (like today) I had mistakenly thought there was no way this stock could run to 100 this quickly.....hit 100 intraday right before the sell off.