Etsy with a 3 Million call option that failed
The market again did not want to cooperate but that’s OK.
I played SBUX, NTNX, MLCO, LUV, V and ETSY
This is why we only trade using small amounts and only a few contracts. I did save the account from heavier losses so this is a win in my book. I also downsized one of my commons which is JWN. I still have shares but it’s just not moving for me.
ETSY -9%
ETSY 7-28-20 CHART 5 MINS
What a disappointing play but it may work out just not for me. For some reason I missed the alert on 7/27 but when I saw it drop this morning I was sort of relieved. I went ahead and got in around $10.14 per option call and I thought I was about to win big on this one. I waited for the pull back and saw some support. Etsy was trying to work with the SPY but it just wouldn’t pull up.
Kept rejecting around $104.40 and also bounced off around $103.36.
I would have kept it IF they didn’t sell off.
Since I normally don’t play this stock, I had to exit. Also there was a notification of 1.4M block was on below the bid that was taken out. So that person unloaded half his/her option at a loss. You could have probably buy a nice car with the loss ….or more TSLA stock.
When the big money gets out..you also get out too. OR if it breaks support.
Look at the resistance and support lines
Look at the 1.4M option call sold …yikes!
Note: This may still play out, we just don’t know but would I risk it? Nope. But it would need a really good stock market rally to get this option to keep going.
Visa +3%
This was a roller coaster. Like a huge roller coaster that I already knew would not make anything else. I had Visa since last week. Look below as I was able to show my stock options for Visa from last week too.
As you can see a few of the blackbox members actually got in the previous day. Since I was out camping, I got in almost the same time. But I was about 15-20 cents lower. Then on Friday it just kept coming down which I had a feeling…
Yesterday was also a tough day too as it kept hitting resistance but eventually broke it. I knew it would not be able to break $200. As you can see it was struggling to come up and it happened just like last time. The SPY was also coming up but Visa just did not have enough MOMO.
The sell off was expected due to earnings.
I’m happy I came out without any financial losses on Visa.
