There’s not much news and it’s a silly pre-holiday trading day so I’m going to reveiw the OOP instead.
The Options Opportunity Portfolio was initiated last year in Seeking Alpha’s Marketplace and, since the Summer, it’s been on quite a tear and we just crossed $300,000 – up 200.7% from our $100,000 initial set-up back on Jan 3rd of 2018. You can follow our progress and changes under the Virtual Porfolio Tab on Philstockworld’s main page and, unlike our Long-Term/Short-Term paird portfolios, the Options Opportunity Portfolio is self-hedged – so it’s just the one, balanced portfolio.
Our goal in the OOP is to take advantage of OPPORTUNITIES in the maket – usually we jump on stocks that have been unfairly sold off on news we don’t consider as bad as the traders who are running out of the stock. That’s why you see a lot of stocks in here with erratic charts – usually they’ve had some kind of mishap which drew our attention to them.
In our March Review, on the 7th, we were at $283,465 and now $300,689 is up $17,224 for the month and that’s 17.2% of our original $100,000 – so pretty good for a month – too good really and we’re going to look carefully for places we can take some money off the table, as we don’t REALLY trust this rally.
- FTR – This has been a bad trade for us this year and we’re just waiting to see what happens on 4/30 earnings.
- HMNY – I think we own most of the company at this point – not that it’s worth anything…
- HOV – This one we’re expecting to recover nicely over time.
- TZA – One of our hedges, no adjustments. TZA is a 3x Ultra-Short so a 20% drop in the Russell should give us a 60% bounce to about $14.50, which would make the 50 calls worth $6.50 so $32,500 less the current value of $10,275 means we have $22,225 worth of protection here.
- LB – An aggressive put but we like LB.
- PLAY – Not worried about these.
- SIG – Retail