Updated: Jan 22, 2021
I do live trading on my Twitter and would like to post the real option trades that I am doing, and what my current watchlist is. Follow along on my journey to $1 million.
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I am going through a period of raising capital and divesting from my stock option positions. Currently my goal this week is to liquidate most, or all, options and start buying commons in batches of 100 shares, in order to sell covered calls next week.
Today I closed my $IPOD position for.
Here is a recap of the open and closed positions for last week and this week.
These are not as high profits as I usually would be happy with, however when applying for a Margin account on Webull, you can't have any options positions open. I am not going to prematurely close the remaining three I have; I can be a little patient. In the meantime, I will be buying more commons in shares of 100 in order to sell some covered calls next week. See analysis from yesterday for more on that.
My portfolio is up 7.5%, or $50,000, today. Mostly due to tech stocks running up from the Biden inauguration.
Keep in mind I started with $313,000 last year and ended with $650,000 before I switched over to Webull.
$BABA- Opened above the 180 MA with Jack Ma's reappearance. This one could be a very interesting buy if it forms a strong upwards trend. However, be careful. Don't assume because Ma is back online, means everything is ok. With Chinese New Year, China's biggest holiday, coming up, Alibaba has potential for huge profit.
$BABA is up 5.5% today and will run up to $300 and more eventually. The biggest question is time. Alibaba is an ecommerce giant that is paramount in every single Chinese persons' lives. On one hand, Ma has a big mouth; he shouldn't speak out against the CCP so tread with caution. On the other hand, there isn't much negative news in China against Alibaba currently. Sales on the ecommerce giant is business as usual.
Price Target - $300
Entry - Buy $270 and below
Risk 1-5 - 2
Timeframe - 2-4 months
$THCX - I will be buying at least 100 shares of this cannabis ETF and selling covered calls next week. Decriminalization is imminent and a vote is near. Legalization is a possibility in this administration although I don't think it would come anytime soon.
Price Target - $25
Entry - Buy $17 and below
Risk 1-5 - 4
Timeframe - 1-3 months
$SOLO - ElectraMeccanica Corp is a Canadian EV maker. Wait for a pull back further before getting in if you already have other EV stocks. It's always best to keep diversifying out of EV - with all the hot EV stocks lately, we are all tempted to keep buying them up. This is a cheap covered call play that I'll be doing with a few hundred shares. 100 shares now is $755. Once the EV industry makes its next push, SOLO will go up.
Price Target - $11
Entry - Buy $7 and below
Risk 1-5 - 4
Timeframe - 2-3 months
$PRNT - 3D Printing ETF managed by ARK Invest. This is gaining more popularity online, and anything ARK is and has been very, very successful. Personally, I want to hold this long term - for years. For now though, I'll be selling covered calls. This one is a little more expensive to acquire 100 shares - around $4000.
Price Target - $46
Entry - Buy $38 and below
Risk 1-5 - 3
Timeframe - 4-6 weeks
$SURF - Surface Oncology is an ARK Invest baby that is clinical stage immuno-oncology company that is engaged in the development of cancer immunotherapies. ARK manager, Cathie Woods, has helped us make a lot of money so it is hard not to take a close look at this stock. Only $14, you can buy 100 shares for $1400 and start selling covered calls with me next week.
Price Target - $22
Entry - Buy $14 and below
Risk 1-5 - 3.5
Timeframe - 2-4 months
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