Freaky Fast Profits Portfolio (8/24/20)

It’s been a few days since I posted, as I was off in Minnesota for the wedding of my brother, Casey, and his lovely bride Anna. Not a whole lot has happened. We made about $100 on Friday and gave back about $140 today, mostly because I was catching up on my sleep while Chegg was getting slaughtered this morning.

Tonight I’m just going to update the trades I’ve made since Thursday and lay out our current portfolio. Friday we got out of our Ford calls for about a $35 profit. We actually lost a dollar on the calls themselves, but sold enough options against them to make out the profit. The cost of our position was $57, so we made over 60% on the position in less than two months, before getting out because we were falling asleep in this trade.

Also on Friday, we bought back our Aug 21 DPZ call so that we could sell a September $450 call for $269 against the Sep $430 call that we own. We booked a $55 profit on the call we sold and even after a bad day for the position today, we have nearly $400 in profits, or about 130%. Currently the P+L graph looks like this, although this is not counting the $55 we already booked:

Then we sold our MGM position for $229, after buying it for $129 back on August 6. Also Friday, we sold a Spotify (SPOT) Sep $360 call for $95 against the one we own. That position looks like this:

You can currently buy this for only about $15 more than we paid for it. Lastly, we bought an AKAM Nov $120 call for $390. We’re down about $25 on that, and I believe it’s a great buy as we speak.

Then today, I finally woke up to see CHGG getting killed and sold that at about a 10% loss on the position, the biggest loss I’ve taken since starting this. This was 100% due to me oversleeping. Total loss was $110. Then I opened a few positions.

We got a little more diversified today, adding some value and materials to the mostly technology positions we held. I bought a 3/4 position in FCX stock at $14.52. Then two options positions. I bought two Nove $19 HAL calls for $146. You can still get that price. Lastly, I bought a vertical spread in LVS, buying the November $55 and selling the November $65 for $195 net. This position looks like that:

This spread expires after earnings, so it will hold up well as long as the stock doesn’t do poorly.

With that our portfolio looks like this:

Long: AAPL, ABT, ADBE, AKAM, ARNC, DKNG, DPZ, EBAY, FCX, HAL, LULU, LVS, MCD, MSFT, NET, RDFN, SPOT, TMHC, TTGT

Short: ROKU

All of those positions have been discussed as they occurred in previous posts. That’s all for today, have a great night and happy trading!

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