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 $1 million.
1-on-1 Private Coaching via Zoom is now available. Whether it is portfolio building and review, formulating a personalized options strategy, or the basics of how to trade - I'll make your portfolio relevant. Email me here or DM me via social media.
YouTube Video Commentary: Here
Today was a day similar to Tuesday, tech and semiconductors rallied while the financial sector and oil lagged behind. The 10 Year Treasury Yield ($TNX) was up a little from Wednesday's low, however it is still down for the week. Current yield is 1.527%.
My portfolio is up more than 8% today, but we still have a little ways to go to reach the highest peak that I reached a couple weeks ago. Overall, it is looking like this might be a V-shaped tech recovery - a lot of overreaction. The only positions that was filled today was 10 shares of Roblox ($RBLX). I would like to see two green day candles in a row before I start jumping back into my shorter term calls. I'm believe we will pull back a little tomorrow in tech, and Monday I'll be looking for entries on more calls if we hold up until then.
Adding to the Watchlist:
$RIDE: Lordstown Motors Corporation is an American automobile manufacturer of electric vehicles.
$RIDE is working on their electric pickup truck to try and take a piece of the $190B American truck market. It has the looks of a more traditional American pickup and in my opinion, looks better than Rivian's version. Although super futuristic looking, the cyber truck might not appeal to everyone and the price target is around $18,000 more than the Lordstown for the AWD version. Deliveries of the Lordstown Endurance are expected to begin in the fall of 2021, with full production ramping up throughout 2022; we can preorder on their website now for only $100 deposit. Welcome to the future. Currently $RIDE is trading below the 180 MA. Once it breaks this and tests it as a support, I'd be interested in buying this stock.
Target Price: $35
Timeframe: 4-6 months
$CPNG: Coupang is a South Korean e-commerce company founded in 2010. The biggest IPO on the NYSE from an Asian company since Alibaba. The $CPNG IPO was, for the most part, overshadowed by the Roblox IPO from Wednesday. Coupang has been compared to the Amazon of Korea. The Korean e-commerce market in 2018 was $100B and is growing rapidly. Coupang has a unique returns system. On their app, you can select to return the product and where the delivery courier will pick it up. It is as simple as clicking a few buttons on their app and placing the product outside of your front door. It seems to me like a big deal. No technical analysis is need on $CPNG as it just IPO'd today. I'm interested to see if it will pull back before pulling the trigger on this one.
Target Price: $70
Timeframe: 3-5 months
$CAKE: The Cheesecake Factory Incorporated is an American restaurant company and distributor of cheesecakes based in the United States. Recently food, beverage and hospitality has been performing rather well while the entire tech sector has been selling off. I expect that this is a rather good play through the rest of the year as the economy opens up and stay at home orders are lifted for the country. I personal always liked their cheesecake and food. Over the last couple of years $CAKE has opened up restaurants in China and doing extremely well there. At Shanghai Disney's location I once had to wait for 4 hours to get a table. I'll be doing a review of this Cheesecake Factory this weekend! (Next week $XPEV test drive)
Target Price: $65
Timeframe: 4-6 months
Note: Risk (1 out of 5) is my opinion of how risky the stock and these plays are; 1 being the lowest and 5 is the highest.
Follow me on Social Media!
Webull -2 Free Stocks
Disclaimer: The comments opinions and analysis expressed herein are for informational and educational purpose only and should not be considered as individual advice or recommendations. Prostockadvice.com is not responsible or liable in any way for opinions expressed here. This is not meant to be financial advice as we are not a licensed financial advisor.