My account ended up about $20, finishing the day at $1,861.
Today’s Positions
- Canopy Growth Corp. (CGC): 40 shares @ $27.44 (0.77%)
- YETI Holdings, Inc. (YETI): 10 shares @ $30.07 (4.08%)
- Microsoft Corp. (MSFT): 1 share @ $136.08 (-1.05%)
Yeti Holdings, Inc.
My shares of YETI continued their run higher today up over 4%. I’m down less than $1 total return at the moment so that feels good. I had bought back into YETI when its shared dropped from above $36 to below $30 at the end of September. I bought in at $30.23 per share on August 1st, and it pretty much stayed below that level all of August. I’ll likely hold out for a bit to see if we can turn a small profit before selling and moving that $300+ to cash.
An interesting side note on Yeti Holdings. I saw an article come across my news feed from Jim Cramer where he had commented in his lighting round that he sees YETI up 100% for the year so he doesn’t want to push it. He’s right, Yeti started out January 2019 around $15, and is now back up over $30. I’m hoping it still has a little room to run but I shouldn’t get greedy. I will likely have a quick trigger if it starts to trend lower.
Baytex
Because I’m a glutten for punishment, I had to peek back at BTE a few times today to see if I could have broke even or made a few bucks if I held out a little longer. While it trended higher early this morning, reaching $1.49 per share, it finished the day back down at $1.42. So, I don’t feel too bad about the price I got yesterday. I think I can move on from that one.
Sportman’s Warehouse and Tailored Brands
I am definitely feeling the FOMO (fear of missing out) on these two. Especially TLRD, which ran up almost another 10% today. That’s 25% this past week! And SPWH ended the day up 4.5%. Not too shabby either.
OptionAlpha
I’m continuing to slowly work through the Intermediate course, and decided to start paper trading a $2,000 account in ThinkorSwim (with TD Ameritrade) to get a better understanding of how some of the more advanced options trades work. While messing around last night, I saw ADPT had super high volatility so I went ahead and place a call credit spread just to get my feet wet.
In the paper account, I sold the 18 OCT 19 $45 CALL and bought the 18 OCT 19 $50 CALL to create the spread. I made a note that the trade is really too big for my account, seeing as how my max trade risk should really be $100 if I’m going to stay within the rule of only risking 5% or less per trade.
But anyways, I figured if I’m going to learn I should start simulating some trades. If I understand correctly, I initially profited $120 on the spread minus fees, and have a max risk of $385. So if the stock stays below $45 until October 18th, then it will be a profitable trade. At the end of the day today, ADPT is up 4.53% to $41.27. So on paper my spread is down $42.54… woops!
FNMNY 