adiggs
Well-Known Member
After Monday trading (~+$30 on the share price), I haven't seen anything to change my larger plan for the week. The short version being - see what happens on Wednesday and decide from there (hold through tomorrow pretty much regardless of what happens).
More detailed.
- the Jan '21 contracts are just holding, with the current intention of closing them the first week in January. For me, this is driven by these contracts being in a taxable account, and I'd like that tax event to be next year. They are also performing particularly well, leading to my prior observation that the next time (assuming there is one), I'll go for the month after instead of the week after.
What I'm monitoring with these is a big enough spike this week or next, that the post inclusion drop will be big and fast enough, to make paying the taxes and closing this year a better idea.
- the 12/18's - are all near ITM or ITM. My plan of the moment is to see what happens on Wednesday. I'm looking for evidence of the start of significant buying (and I'd really like to see that tomorrow as well, though I don't really expect to). If I don't see the buying pressure on Wednesday, then I expect I'll close up shop on these. I won't like it, but they still have a lot of time value despite being near ITM, so take the win.
- The 12/24s are the 700 and 900 strikes. I don't know what I would see tomorrow that would stop me holding through most of the day Wednesday. I'll have a faster trigger on the 900s - they need to get a move on soon, or I'll let 'em go. I won't like it though! The 700s are likely to be the position (along with the Jan '21s) that I carry through 12/18 and into the week after. I also want to see what next week trading looks like, with a reasonably good chance at a continuing swell. I do expect the 700s will be ITM by then, making it easier to see what the front half of next week brings.
NOT investment advice, and worse - I am historically bad at option purchases. This time around, the calls look like they'll be a net money maker, and pretty good at that. That is unusual for me.
More detailed.
- the Jan '21 contracts are just holding, with the current intention of closing them the first week in January. For me, this is driven by these contracts being in a taxable account, and I'd like that tax event to be next year. They are also performing particularly well, leading to my prior observation that the next time (assuming there is one), I'll go for the month after instead of the week after.
What I'm monitoring with these is a big enough spike this week or next, that the post inclusion drop will be big and fast enough, to make paying the taxes and closing this year a better idea.
- the 12/18's - are all near ITM or ITM. My plan of the moment is to see what happens on Wednesday. I'm looking for evidence of the start of significant buying (and I'd really like to see that tomorrow as well, though I don't really expect to). If I don't see the buying pressure on Wednesday, then I expect I'll close up shop on these. I won't like it, but they still have a lot of time value despite being near ITM, so take the win.
- The 12/24s are the 700 and 900 strikes. I don't know what I would see tomorrow that would stop me holding through most of the day Wednesday. I'll have a faster trigger on the 900s - they need to get a move on soon, or I'll let 'em go. I won't like it though! The 700s are likely to be the position (along with the Jan '21s) that I carry through 12/18 and into the week after. I also want to see what next week trading looks like, with a reasonably good chance at a continuing swell. I do expect the 700s will be ITM by then, making it easier to see what the front half of next week brings.
NOT investment advice, and worse - I am historically bad at option purchases. This time around, the calls look like they'll be a net money maker, and pretty good at that. That is unusual for me.