Freaky Fast Profits Portfolio (8/20/20)

Yesterday we ripped the day’s irrational sell-off. Today the market (particularly the Nasdaq) bounced back, proving that the sell-off was indeed irrational. That meant about $325 in gains for the Freaky Fast, or just a tad over 2% on the day.

Today, we were led by DPZ, with about $142 gain in paper-profits in the pizza producer. Here’s the P+L graph of our position.

A $12 move higher tomorrow would make us about $400 more if I could hold it to the end of the day. Unfortunately, I’ve got to get on a plane tomorrow morning, so I’ll be buying back the call we are short, locking in about $60 in profits there, and then selling an August 4th expiry call against the September $430 call we’re long. (I’ll probably sell the Aug 4 $445 call against it).

We also added about $60 with our SPOT October $350 call. We got a bit of the breakout we predicted last night, although not nearly the power and force I was expecting. Perhaps that happens tomorrow. Damn, this chart is sexy.

Nothing too exciting other than that. Redfin (RDFN) was up 3.8%, but what else is new? That’s a fairly regular occurrence with that fantastic stock. 3.6% for Adobe (ADBE). NET kicked in with a 2.8% gain, and then we got nice 2+% moves from the behemoths, AAPL and MSFT.

I will be in Minnesota through the weekend for my brother’s wedding, so I am not sure how much I’ll be posting. Hopefully I can at least do a recap from my hotel tomorrow night. Have a great weekend!

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