I spent the weekend thinking of all kinds of creative strategies to roll and split the underwater bps I’m holding. I had some good ideas, but realized they would all fail if the share price keeps sliding. In fact even seemingly conservative strategies could just end up deepening losses.
The dump today helped me find clarity. I’ll be focusing on buying back my bps and/or adding cash or shares until I am confident we’ve bottomed out. $500 feels like a real possibility now, as crazy as that seems. I’m not predicting that by any means but I’m preparing for that horrific eventuality.
I’m going to do this as expeditiously as I can with day-trading profits.
Today was another very profitable day for trading because it was so predictable.
A few of my trades today:
5x 750 cc $2.50
2x 620p. $11.22 -> $18.85
2x 720/780. $8.92 -> $6.86
4x 730/790 $7.45 -> $4.95
10x 740/800 $5.86-> $2.78
+ many more like these
Used today’s profits to buy 3 shares and close 7/1 650/500 bps and roll 750/550 -> 750/600.
Although my account went down a fair amount today, I ended up with more margin, more cash, and more shares.
A step in the right direction.