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Journey to $1 Million - March 2nd, 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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Today was a pretty choppy day before almost everything sold off towards the end of the trading day. I was anticipating a pullback from Monday's high, but we are almost back to where we finished off last week. I picked up some smaller positions and rolled some of my covered calls to further lower my cost basis today. $SOXL and $TECL split 15:1 and 10:1, and Webull is yet to update this, so my PNL looks pretty horrible right now!

Positions Filled:

Markets:

  • SPY: -0.78%

  • QQQ: -1.69%

  • DIA: -0.44%

Notable Recent Picks:

  • $NXE: +11.5%

  • XL: +13%

  • MP: +7.5%

Adding to the Watchlist:


$VACQ: Space-launch company Rocket Lab USA Inc. agreed to merge with Vector Acquisition Corp., becoming the latest startup to go public through a so-called blank-check company. Rocket Lab has launched 97 satellites and serves commercial customers as well as U.S. intelligence and defense agencies. It plans to launch a satellite to lunar orbit this year for the National Aeronautics and Space Administration as part of the Gateway effort to return humans to the moon. If you don't want to wait for ARKX to be available, you can start dollar cost averaging into this SPAC. $VACQ is currently trading for $13.80.

  • Target Price: $30

  • Entry: <$14

  • Risk: 5

  • Timeframe: 4-6 months

Notable Mentions:


$JMIA- Jumia is an online marketplace for electronics, and fashion among others targeting several African countries. The company is also a logistics service, which enables the shipment and delivery of packages from sellers to consumers, and a payment service, which facilitates transactions among participants active and Jumia's platform in selected markets.

  • Target Price: $70

  • Entry: <$45

  • Risk: 4

  • Timeframe: 4-6 months

$BIDU: Baidu, the Google of China, is still trading on my support after the recent dip. The company is said to be moving into semiconductor production which could really move the price of the stock. I will keep my targets and entries the same. If you want to spend a couple thousand dollars for a 60-70 Delta call, this is the one to do it with.

  • Target Price: $330

  • Entry: <$300

  • Risk: 3

  • Timeframe: 2-4 months

$WKHS: Even though Workhorse missed the USPS contract, they have other clients and still have a decent chance of getting a federal contract for the electrification of the federal fleet. In my opinion, this is just a cheap buy right now.

  • Target Price: $40

  • Entry: <$16

  • Risk: 4

  • Timeframe: 4-6 months

$SOXL/$TECL: Both of these 3x Leveraged ETFs deserve a mention because they just had a stock split. They are now both trading in the $30-40 range and LEAPS and Calls would be much cheaper. $SOXL was my best buy and hold common stock of 2020. One of my all time favorites. If you are bullish on semiconductors and tech stocks, these are a must add to your HODL portfolio.

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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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.


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