Hello Investors,
Another good news day with Moderna coming out with very positive Covid-19 vaccine trials. There is a clear divergence in reactions. The Tech sector (nasdaq) continues to under-perform. Though we may see the entire market move higher so we will be watching our QQQ trade closely. We have decided to exit our AAPL (bearish tech) trade here near breakeven. This is a little more speculative trade. We know from experience that on a lower probability trade, you need a lot of things to go right. While this trade could still pan out, even a temporary push higher could disrupt any chance for profits. We made a couple of other adjustments as well!
We exited our AAPL put butterfly
Sold to close: AAPL Jan 15th (monthly) 115.00 strike puts (ratio of 1)
Buy to close: AAPL Jan 15th (monthly) 100.00 strike puts (ratio of 2)
Sold to close: AAPL Jan 15th (monthly) 85.00 strike puts (ratio of 1)
Credit: 2.43 (taking a loss of -0.15 overall)
We bought back our BRKB covered call last week. We will re-sell a further OTM strike price today.
We sold the BRKB Dec 18th (monthly) 250.00 strike calls
Credit: 0.65
We also own 200 shares of DELL. The covered calls in November will expire this weekend. We moved ahead with selling only one (1) contract of the Dec 18th (monthly) covered call early. We sold only 1 contract based on the 200 shares we own.
We sold the DELL Dec 18th (monthly) 75.00 strike calls
Credit: 0.65