Well, today did it.

The gas pedal on the account is pressed firmly to the floor without regard for the safety of those in my vehicle or those around me.  I am now the owner of an obscenely large call option position in $DIA June 128’s.

Additionally, I added to my $THLD position, bringing me to 100% long.

With such a large portion of my portfolio thrown into options, there was no chance that I was going on margin at this point.

Let it be known that all 30 readers of this blog are about to bear witness to an incredible flame-out or a “Blood Meridian” style massacre of unsuspecting short-sellers.  One that will undoubtedly see yours truly trading hideous scalps for currency in the coming days.

There are many ways to make money in the stock market, and nearly all of them require extreme conviction in a strategy.  Sure, I am being a little reckless here, but there also comes a time when you need to push the envelope when you feel the odds are in your favor.

Obviously, I feel that time has come.

If a rally should materialize, my primary objective is to exhibit patience with my $DIA call positions.  In the past I have tended to get overly anxious when I see unrealized gains starting to disappear…especially with options.

At the close, the portfolio looks like this (by weight): $DIA calls, $EXTR, $THLD, $MO, $YELP, $CREE, $LIZ, $COF Calls.

There really isn’t much else to be said.  My bed is made.

While I expect to win, I have to be prepared for the very real possibility that I’m wrong.  The account balance will suffer, but I will stay in the game.  If I’m right, my shitty year turns into a good year in a very short amount of time.

My best to you all, I will see you on the other side.

-EM

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