Closed Out the Month in Wanton Degeneracy — Stock Trading Contest Edition

I had a big contest inside of Exodus in November, me pitted against some Pole from Chicago. He traded well, but not often. Quite honestly, his fortune was helped by a freak trade in CRC. If not for that, I am certain he’d be shining my shoes now. But men do not make excuses and they own up to defeats. It appears I lost the contest. It came down to the wire, me 4x long CLVS needing a $15 print with minutes left on the clock. It got there, miraculously, but then faded a few cents.

The accountants are working furiously to get the final tally.

One thing is for sure, Le Fly will have his revenge — and when he does — it will be served cold.

The CLVS trade was supposed to be quick. It was running and I got in at $15.75. It ran to $16.5 and I didn’t sell, and then it collapsed. I ended up applying a Martingale Stratagem, buying as it knifed lower. I got my basis down to $14.88 and held into the close. It traded as low as $13.5, at which point I wanted to die.

On the issue of BLUE. I was 50% weighted in the stock as of late Wednesday. The rationale: I wanted to beat Diddy inside of the Pelican Room. So when the stock ran $4 at the open and I was up on Diddy — the logical thing to do was to sell — right? WRONG. See, if I won by just 0.2%, he wouldn’t have to shine my shoes. In order to get him to shine, I needed at least 100bps. I ended up selling more than a dollar lower, giving up my lead. So that’s when I bought CLVS, and a bunch of other shit, in an effort to make a last minute come from behind rapish win.

Sadly, time ran out and it appears I am the loser.

THE RESULTS: 4.98% to 4.83%

All month long I’ve been in a trading contest with my arch nemesis Diddy inside of Exodus. It all started way back when as he talked shit, so I challenged him and here were are. As of Wednesday, Lord Diddy was up a bit on me, so like any normal person would do — I then decided to take a 50% weighted position in BLUE. For those watching it, I could only imagine the sheer level of entertainment. But for me, honestly, it wasn’t much fun.

I hadn’t overweighted a position like that in ages, perhaps never. I didn’t think about it yesterday, but felt the knife twisting inside my stomach this morning. In the pre-market it was up nearly a dollar, but futures were lower — so I was tentative. Then it busted loose out from the gates, up more than $4, and the Gods smiled upon me. I ended up selling a little bit lower — but booked a 3.5% profit nonetheless.

I believe we’re neck to neck now, with Evil Diddy with a slight lead. I’ve traded twice as much as him, reminiscent of the Wile E Coyote vs The Road Runner. Both of us are up pretty nicely for the month — in the range of 4.7-5.5%. The day is still young so I have some trading to do.

I added to a BYND position I took on Wednesday and ended up selling the whole thing for +3%. I am massively in cash, after selling BLUE, and relieved to have that pressure off my chest.

DEVELOPING…