Welcome, and I hope I find you well.
I’m coming into the afternoon with strong rallying across my portfolio. AEC and CLP are both up over 100 points. CCJ, RGR, and BAS are all pushing 200. The euro cracked this morning, and EUO is now up 150. Silver is enjoying a relief rally, but it’s down so much inside of this year, it seems stupid to talk about.
The only place I’m losing money today are the TSLA puts. And since they’re puts at 2-3% of the account, I really don’t care.
I’m actually looking to add to the Tesla put position, this time targeting the 2015 expiries. A $70 strike price should do nice – maybe as low as $50.
I believe TSLA is the new NFLX; sans the recovery.
All in all, I’m still up over a percent so far, with a 30% cash position to boot. But if I were to be honest, I would say I still expect the summer to end dreadfully.
Have a great day.
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I now have 4 stocks that are +200 on the day, with RGR flirting with +300, and EUO at +150.
Silver is higher. And TSLA puts our OTM.
are*