Another excellent day for the portfolio, largely thanks to Costco. We made another $315 on our options position on the move up to the high 330s.
With COST trading around $338 per share, I closed our position for $1092. We had purchased the position for $266 on July 7. Quadrupling our money in less than a month… not too shabby.
I also closed out our PYPL diagonal spread for $403. That had been purchased on July 2 for $195. I closed our MNST call for $223. That had originally been purchased for $125. Lastly, I closed my position in the GLD. We originally paid $154 for our spread on June 17, and today we sold it for $614. Another quadruple, although this one took a month and a half. We are still holding the NVDA spread, which gained another $86 today. We’ve already got more than a double in that one.
In stock positions, we sold our SPY shares to raise more cash. We sold our DDOG heading into earnings. I sold a little more LVGO, which continues to go up $10 a day. Tomorrow we will be selling some of our TTGT into earnings, along with our ZNGA calls.
The market tried to do its Tuesday reversal midday today, but the bears were unable to push it lower for long. Still no reason not to be bullish.
After being over-invested two days ago, we are now under-invested. I’ll be looking for trades to enter over the next couple days, and may be back later to post some good-looking setups.