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Notable Previous Picks:
First seriously green day in a while, or at least it feels like it. The dip from last week was comparable to the one in September. I don't think we are all in the clear just yet; I expect a correction to come tomorrow at some point. Yet, I have more confident to start getting into short term positions now. Let's look towards the futures and pre-market today and tomorrow to see what to expect.
Today my portfolio did $58,000 or 9.3%.
Positions Filled: (Rolled out the $TSLA Covered Call for a free $5 in Strike)
Current Option Positions:
I will be going through a period of raising capital this week and next if the market continues rebounding from the dip. I cost averaged into more ARK LEAPS and overall my shorter term positions are not down all that much in relative to how much the market pulled back last week.
$CCIV: Churchill Capital which will merger with Lucid Motors is in very good deal territory still. I'm holding 100 shares and selling covered calls on, yet I'm thinking of possibly selling a put to get more. If it goes into the sub $27 price range, I'll be buying another 100 shares one way or another. Once the Lucid cars deliver for the first time and even if they are just mediocre, the stock is still undervalued in my opinion. Keeping the target the same but adjusting the entry on $CCIV.
Target Price: $50
Timeframe: 3-6 Weeks
$REGI: Renewable and clean energy, unsurprisingly, is one of the most beat down sectors right now. Long term outlook is still very bullish and these prices are compelling me to increase my position size.
Target Price: $125
Timeframe: 3-5 months
$PSTH: Pershing is still in my 'buy zone' and still managed by Bill Ackman. Even though this SPAC is still all rumors and hype, once a more clear rumor comes out, we should be able to see some very bullish day candles. I don't think $40 price target is all that difficult, given how SPACs have been performing, and that Bill Ackman is one of the most 'hyped' managers currently. If the 50MA support continues to pan out, we are at great buying levels right now. I would suggest treading carefully, as SPACs are know to be volatile and rumors tend to get priced in very quickly. ($CCIV)
Target Price: $40
Timeframe: 2-4 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.
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