SAAS stocks are getting lit up because of PCTY and NEWR. This is partially sad because I own a bunch of fucking SAAS stocks. Good thing I kept some dry powder for average downs. Market is up 50 Nasdaqs, but it feels like it’s down.
Maybe I’m just in the wrong stocks, for today.
Speaking of wrong stocks, TSLA is getting lit up and I actually bought some puts yesterday, my first options trade since 2012. Why did I stop trading options? Long story, but let’s just say it brings out the gambler in me. I had the 2/7 900s — up a cool 220% from basis. Not a bad way to make a living — but I will admit it’s too enticing. If I could make these sort of percentage gains all the time, I’d immerse myself all the time in it and my life would be absolutely miserable. This will be the only options trade I do for the year. Maybe I’ll do one per annum.
As for my other positions, I’ll be a little patient (not too much) and think about buying more if they drop again tomorrow.If you enjoy the content at iBankCoin, please follow us on Twitter