Amazing start to 2022. Staying out of short call positions coming in to this week was the right decision.
Closed out 150x 940/890 BPS at 90% gain.
Opened 160x 1050 1400 IC 1/7 for $2. More contracts than usual courtesy increased buying power from core position growth. Still sticking to giving myself enough margin space to survive a 30% drawdown.
Also opened 24x 1390 1/7 CC/LCC for $1.
While I don’t usually chase intraweek premium like this, this week is setup for strength. Large institutions won’t buy until Wednesday or until their buy side analysts have updated PTs, which will come over the next couple days. That with 50MA now sitting at 1066 and TSLA regaining its bull trend, I’m not seeing a revisit of 1050 this week.
Though as
@BornToFly pointed out, we likely are to see a gamma squeeze going in to ER, which I feel will setup for a blow off top and retrace. Particularly with the gaps that now have opened. So, I think we see 1400 before we see 1050, but we’ll likely revisit over the next 6-12 weeks.
2021 was an absolutely wild ride. Watched margin account values go negative, learned to manage positions through all sorts of approaches (selling short leaps, flip rolls, split flip rolls), and gained so much knowledge from this collective group of TMCers for which I am forever grateful!
I also moved house across cities, to a home bought outright from the incredible gains TSLA and this forum have allowed me to realize. To come back to my home town, closer to family, while be completely financially independent, and now for our toddler to be surrounded by more cousins and loved ones than he can keep track of has been an absolute blessing.
Posted a 67% return in trading accounts and a 60% overall net worth increase in 2021. Nothing compared to 2020, but truly an incredible outcome. Impossible without the collaborative spirit of this forum. Thank you to all! May 2022 be fortuitous for all of you!
Stay rational and safe out there.
They are already red of course -.-
