Today's Market Moves
Today was another disappointing Friday. That huge move in $LOW that caught everyone off-guard continued today with an announcement that the activist investor who had their stake disclosed last Friday has already obtained board representation. The stock moved just high enough to force me to close the adjusted position prematurely. I was expecting $LOW would consolidate and trade in a tight band until the next announcement, which did in fact happen, but that next announcement happened today and not at earnings like I was hoping for. Oh well. I was in the wrong place at the wrong time and through no fault of my own ended up taking a sizable loss. Nothing that I can't recoup. More details in tomorrow's SPA.
$SQ is up big today, at time of writing trading at about 42.50. Despite this large one day move, $SQ is now trading around the midpoint of my short iron condor and is giving me about a $20 unrealized gain, so that's nice.
I'm looking to get some more positions into the portfolio and I have some more trade IDEAS that I will further analyze over the weekend. The ideas that make the cut will be discussed in the next weekly trade ideas video.