Today was a good day! Bagged two winners, setting up for my record this quarter of 7 winners, 6 losers, and 3 scratches. You can follow my returns log here.
$GM: Tomorrow GM is hosting an event to show off the highly anticipated autonomous driving features for the future of the company. Personally, I think this could be an old-fashioned "buy the rumor, sell the news" type of event. Many analysts have come recently issuing BUY ratings in preparation for the event. As a result, IV in this stock has remained elevated and will probably drop tomorrow. I chose to get out early today on the 1.5% pop for a fill slightly off what I wanted. To me it wasn't worth risking a ~$40 winner for a few extra bucks in slippage.
$USB: What a shocker this turned out to be! After treading water for the last 2 weeks this stock suddenly took off today with other bank stocks. In hindsight I set my profit target a little bit low, but again, I'll take a realized win over an unrealized gain.
$UPS remains the only position I have on and it is showing good signs, but the lack of liquidity in the Dec-29 options is starting to become worrisome. At points today the position was up over $45 marked-to-market and at other times it was break-even. Hopefully this upward momentum can last a few more days and I can get out of dodge with a win here, making this last batch 4 for 4 - all winners.
I have my sights set on $SQ, $TGT, and $FXI as potential new underlyings for positions, but as always, that may change. Be sure to follow me on StockTwits or Twitter for real-time updates and commentary, and be sure to check out my YouTube page in case I decide to make a trade IDEAS video about it.