I took advantage of the huge dip overnight in Tailored Brands (down over 25% from yesterday’s close), and today bought in for 20 shares at $5.30 per share.
Today’s Positions
- Canopy Growth Corp. (CGC): 40 shares @ $26.62 (-2.85%)
- YETI Holdings, Inc. (YETI): 10 shares @ $30.64 (1.12%)
- Microsoft Corp. (MSFT): 1 share @ $137.52 (1.03%)
- Tailored Brands, Inc. (TLRD): 20 shares @ $5.02 (-5.28%)
It seems like Tailored Brands might have tested a bottom between $5.20 and $5.30 throughout the morning, so I thought buying in at $5.30 might not be too bad of a move. I still have some cash in my account, so I have room to average down. It finished the day at $5.02 so we’ll see if it continues to dip closer to its 52-week low of $4.21 on August 20, 2019.
Canopy Growth sank today ending the day down 2.85%. Pot stocks have been rough in 2019, and Aurora Cannabis missing its own Q4 revenue guidance as well as missing analyst’s estimates likely pulled the whole industry down a bit. Aurora is down almost 10% today.
Overall, my account is down $34.72 on the day, finishing at $1835.
OptionAlpha Paper Trades
In my test account for OptionAlpha strategies, the two positions I opened this week both had a positive day.
My call credit spread in TLRD is up $7.56 on the day, $18.96 overall. And my call credit spread on ADPT eked higher today with a gain of $4.27 (but still down $38.19 overall).
FNMNY 