To The Moon

I opened $Royal Caribbean Cruises(RCL)$  ,RCL: shorted RCL at $145 when the bear call when in the money. RCL currently trades at $147.68 so I’ll be about 2% in paper loss. I believe RCL current valuation is rich and could be up for reversal of the US economic worsens in coming months with sustained higher interest and higher debt. Whether this will materialise is anyone’s guess.

I opened $Apple(AAPL)$  ,APPL: shorted APPL at $185 when the bear call expired in the money. Apple trades at $192.25 so I’m about 4% in paper loss. I APPL record share buy backs and upcoming new product launch should continue to provide tailwinds to the stocks. The revenue and margins however had been challenging. New products from recent range were disappointing as well as they are not revolutionary but more upgrading of existing hardwares. Hope the AI cycle will provide better boost for coming new products.

I closed $PLTR 20240531 19.5 PUT$  ,PLTR: collected 1.2% premium on PLTR when the cash secured put expired worthless after holding for 23 days. The $20 support is still holding up well and the stock seemed to be in consolidation mode. Happy got PLTR to break upwards, yet cautious that it can gap fill back to $17.5 range. Will continue to trade the range till it breaks either side.

I closed $GOOG 20240531 180.0 CALL$  ,GOOG: collected 12.5% ROI when collect $63 for max risk of $500 over 30 days. This is the sold call leg of the bear call $180/$185 on GOOG . The stock closed at $173.96 which meant this trade is profitable. GOOG peaked at $180 but showed some bearishness following general market last few days. $180 should remain as key resistance level for now based on all time high.

I closed $GOOG 20240531 185.0 CALL$  ,GOOG: collected 12.5% ROI when collect $63 for max risk of $500 over 30 days. this is the 2nd leg of the bear call $180/$185 on GOOG . The stock closed at $173.96 which meant this trade is profitable. The call leg ends up expired worthless and loss all the money but the sold call were profitable.

I closed $SOFI 20240531 7.0 PUT$  ,SoFI: collect 2% premium on these cash secured puts that expires in the money over 24 days. The strike was $7 and current stock price was $6.9 so the shares were bought in. True enough the $7 support had already been broken multiple times in recent weeks and can’t be relied anymore. SoFI transition year will mostly likely be muted in terms of performance and stock price. Will continue to accumulate as necessary and trade the range until I’m fully allocated.

I opened $SoFi Technologies Inc.(SOFI)$  ,SoFI: bought in SoFi at $7 when the cash secured puts I sold went into the money. The current price is $6.90 so I’m about $0.10 paper loss. The premium collection were $0.24 so I’m actually profitable at $0.14 per share or about 2% for the trades.

I opened $Abercrombie & Fitch(ANF)$  ,ANF: shorted ANF and took in the shares at $140 when the bear call $140/$145 expired was in the money. ANF trades now at $172.87 so it’s about 24% paper loss. Actual loss is lesser as have collected the premiums and also sold off the profitable call at $145 strike. I look ANF to correct at later time as apparels can’t really scale the way the past few quarters did. Better same store sales, higher profit margins and reduced discounts has a limit before they need to open more stores to maintain the same profit growth they could. Time will tell if my conviction is a foolish assumptions or a brilliant idea ahead of time. Only gripe to myself is that I shorted this stock too early.

I closed $ANF 20240531 140.0 CALL$  ,ANF: collect 3.5% premium on ANF when it expired in the money for the bear call $140/$145. This is a losing trade as ANF trades 25% higher on earnings announcement on 29th May and not trades at $172.87. I’m holding a bearish outlook on ANF so decided to take in the short calls shares after selling the call side of options to take in profit.

I closed $BABA 20240531 87.0 CALL$  ,BABA: collect full premium of 1.1% premium on this covered call on BABA. The strike was set at $87 and expire in 29 days. The call was sold when BABA was on the up trend and went up as high as $90.46 before reversing back to current $78.34. Happy to collect premium for the few covered calls I’ve sold at a high.