Well, most won’t like it but we’ll see 9XX again and possibly 8XX by 1/31/21. Global macro and global geo-political are creating a bunch of near term uncertainty that isn’t going to spare really anyone or anything - other than GOLD (have you seen GOLD lately, it’s quite the tell and the reverse move in the 10-yr) There is a lot of fed auctions between now and then, and funding date for the last round is 1/31/21. For TSLA, many have noted that outside of truly upside earnings and production projections, most expectations are built in and price movement after P/D. and even earnings has tended to be DOWN in the post earnings window vs. further upside. So, I’m keeping the powder dry but reserve the right to start to add - but I haven’t done it yet.
Today, towards the close I DID take off half my QQQ puts from December, but will hold the remainder for the next two weeks most likely (feb expiry). Same with S&P puts at 4375 which I continue to hold. I’ll let all other calls written back in December for 1/21 and 1/28 just expire worthless. Like the 1200 TSLA 1/21 I wrote when I sold 4/5 of the position at 1210. If I hadn’t sold the calls then I’d be flat on the last tranche.
Starting to add RIVN to my ‘getting close’ stack we’re back at my entry price point on my monitor list, but I think we’ll see sub $60 there if we get another overall market push, at that point I’ll be a buyer.
As I said last week, things are getting pretty darn attractive for longer term positions, but we’re not there YET IMHO.