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re: Dedicated Short / Put Thread
Posted on 4/21/21 at 6:56 am to RedStickBR
Posted on 4/21/21 at 6:56 am to RedStickBR
BTN is looking like my next one, but am waiting to see how it trades this morning.
ETA: Took a position in HBP puts instead
ETA: Took a position in HBP puts instead
This post was edited on 4/21/21 at 10:32 am
1
Posted on 4/29/21 at 11:12 am to RedStickBR
Still holding HBP puts but sitting on the ask hoping to get filled today.
Also took a position in CAMP puts just a few minutes ago. It has the same setup that I outlined in the OP.
Also took a position in CAMP puts just a few minutes ago. It has the same setup that I outlined in the OP.
This post was edited on 4/29/21 at 11:12 am
Posted on 5/3/21 at 11:08 am to RedStickBR
Out of HBP for a small gain. It doesn't feel right anymore. Volume has disappeared and they report earnings after the bell. I'm happy with my 6% gain.
Still holding CAMP puts, but may liquidate those, too, given today's nice selloff.
Rerunning the screen.
ETA: Took a position in NDLS June $12.50 puts.
ETA2: And that’s why you don’t take earnings risk on a short-term technical trade. HBP is up 23% since I sold it early in today’s session, 17% of which is after hours after the earnings report.
Still holding CAMP puts, but may liquidate those, too, given today's nice selloff.
Rerunning the screen.
ETA: Took a position in NDLS June $12.50 puts.
ETA2: And that’s why you don’t take earnings risk on a short-term technical trade. HBP is up 23% since I sold it early in today’s session, 17% of which is after hours after the earnings report.
This post was edited on 5/3/21 at 4:19 pm
Posted on 5/4/21 at 10:33 am to RedStickBR
Out of CAMP puts for a 63% gain. Still holding NDLS puts, although today's price action is not exactly encouraging. Dodged a bullet on HBP.
That said, it's days like today that make this strategy so appealing. I wouldn't be doing it if I didn't think the market was incredibly frothy and due for a volatility surge.
Going to rerun the screen.
That said, it's days like today that make this strategy so appealing. I wouldn't be doing it if I didn't think the market was incredibly frothy and due for a volatility surge.
Going to rerun the screen.
Posted on 5/10/21 at 8:46 am to RedStickBR
Exited NDLS for a small gain.
Took positions this morning in CVGI, CEIX, and CCRN puts.
Took positions this morning in CVGI, CEIX, and CCRN puts.
Posted on 5/11/21 at 10:07 am to RedStickBR
Closed CVGI puts. Still holding the other two.
Posted on 5/11/21 at 10:13 am to RedStickBR
Hats off to you for your timing on going long puts. 
Posted on 5/11/21 at 10:33 am to Jag_Warrior
Posted on 5/13/21 at 8:51 am to RedStickBR
Out of CCRN for a nice gain and CEIX for a modest gain. I didn’t like how little Beta they had yesterday, which isn’t a good sign for an overbought stock in a sharply declining market. Gotta protect your principal, and gains are gains.
Rerunning screen.
ETA: Bought CNSL puts.
Rerunning screen.
ETA: Bought CNSL puts.
This post was edited on 5/13/21 at 9:11 am
Posted on 6/8/21 at 8:44 am to RedStickBR
Out of CNSL for a 14% gain and rerunning screen. This was the first one that just didn’t seem to have that same headwind the previous ones have had. The technical signal was early, and I had to endure some paper losses before the payout. Both the Nasdaq and the Russell 2000 have made some relative gains against the S&P, but I still think the strategy is intact. I’m revisiting each of my criterion and making sure I remain very disciplined going forward, given what appears to be a slight change in relative sentiment.
ETA: Bought July $70 puts on LPI
ETA: Bought July $70 puts on LPI
This post was edited on 6/8/21 at 11:24 am
Posted on 6/17/21 at 11:37 am to RedStickBR
Just closed LPI puts for a 30% gain. FWIW, with the market now becoming more concerned that rate hikes or tapering will be sooner than originally anticipated, I think this strategy will have major tailwinds again. Rerunning screen.
ETA: Bought July puts on HYRE and SCWX.
ETA: Bought July puts on HYRE and SCWX.
This post was edited on 6/17/21 at 2:28 pm
Posted on 6/18/21 at 9:22 am to RedStickBR
Just took profits on SCWX for a 28% gain. I'm probably leaving money on the table, but when the underlying drops 8% a day after entering into the position, I ain't looking that gift horse in the mouth.
Still holding HYRE puts and re-running the screen.
ETA: Bought Aug $55 WLL puts
Still holding HYRE puts and re-running the screen.
ETA: Bought Aug $55 WLL puts
This post was edited on 6/18/21 at 10:31 am
Posted on 6/18/21 at 12:52 pm to RedStickBR
Just curious, do you ever short call spreads?
Posted on 6/18/21 at 1:02 pm to Jag_Warrior
No, I’ve thought about it, but I don’t want to give up the potential for asymmetric gains. It’s that potential for tail events that I’m trying to capture, given my underlying macro view. While the strategy has performed well recently in both up, down and sideways S&P markets, I want to have full upside exposure during days like today when the market completely shits the bed. A disciplined technical approach, and diversification, are my only two risk mitigating tools right now.
Posted on 6/25/21 at 1:33 pm to RedStickBR
Out of HYRE puts today; still holding WLL puts. Rerunning screen.
ETA: ended up taking a position in JYNT Aug $85 puts around the close today
ETA: ended up taking a position in JYNT Aug $85 puts around the close today
This post was edited on 6/25/21 at 9:05 pm
Posted on 6/26/21 at 12:36 pm to RedStickBR
Anyone watching SWBI post dividend
Posted on 6/26/21 at 9:10 pm to CajunCraftsman225
You mean from a short or put perspective?
But for the dividend, it would pass my screen. And from a technical perspective, it’s similar to the setup I’ve described in this thread, in which it struggled on Friday to make further gains and closed near low of day. I’d wait for confirmation on the first red day, particularly considering the increase in volume on Friday.
That said, rules are rules, and it doesn’t meet my criteria.
But for the dividend, it would pass my screen. And from a technical perspective, it’s similar to the setup I’ve described in this thread, in which it struggled on Friday to make further gains and closed near low of day. I’d wait for confirmation on the first red day, particularly considering the increase in volume on Friday.
That said, rules are rules, and it doesn’t meet my criteria.
Posted on 6/26/21 at 9:45 pm to RedStickBR
10-4. Just figured I would put it out there, its done $10 dips before. Figured I would put it on the radar for anyone that does this for income with time to watch it being it is at ATH.
Posted on 6/26/21 at 9:53 pm to RedStickBR
quote:
But for the dividend, it would pass my screen
What kind of scanner or screener do you use?
Posted on 6/26/21 at 10:03 pm to CajunCraftsman225
quote:
10-4. Just figured I would put it out there, its done $10 dips before. Figured I would put it on the radar for anyone that does this for income with time to watch it being it is at ATH.
No, it looks like a good candidate. Others may have interest. Keep posting ideas
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