To The Moon

I closed 1 lot(s) $SMCI 20240726 650.0 PUT$ ,This short dated naked put for SMCI opened just 3 days ago, the strike was set about 17% lower then the strike at time of opening. The share price drop drastically on the next 2 days, at some point this trade was was few hundreds in the negative. However on the last share remain above strike and rendered this Naked Put expiring worthless.

I closed $ANF 20240726 157.5 PUT$ ,ANF: collected full premium on this cash secured put. The trade went in the money so had to buy in 100 shares at $157.50 with slight loss, this was intentional and I didn’t roll it further as I want to reduce my short positions across multiple stocks.

I closed $Abercrombie & Fitch(ANF)$ ,ANF: bought in 100 shares of ANF as part of cash secured put that went in the money at expiry. The strike selected was $157.5 and ANF went down a fair bit in recent week and this is good for my trades, after buying these shares I’m still net short on ANF and look for it to further come down in coming months. In the meanwhile, I’m continuously selling cash secured puts at lower strike to averaging to cover my shorts.

* Wall Street welcomes signs of cooling of inflation, but remains elevated, Fed remains vigilant 🇺🇸 S&P 500: 1.19% 📈 🇺🇸 Nasdaq: 1.42% 📈 🇪🇺 Stoxx 600: 0.61% 📈 🇯🇵 Nikkei 225 Index: 0.08% 📈 🇭🇰 Hang Seng Index: Market closed 🇨🇳 CSI 300 Index: -0.77% 📉 * U.S. stocks cheered, with the S&P 500 and Nasdaq Composite rising 1.2% and 1.4%, respectively, as inflation data rose less than expected, calming sentiment and boosting hopes of a rate cut from the Federal Reserve. * The U.S. CPI rose less than expected in April, up 0.3% month-on-month and 3.4% year-on-year. The growth rate was lower than expected. This is a positive development for cooling down after three consecutive months of higher-than-expected data. This also fueled market expectations for the Federal Reserve this year. A bet on e