Thursday, January 19, 2023

Thursday 19 Jan 2023 Morning Notes

My big trade yesterday was buying COIN puts around 10:20am on the report of USDOJ's global cryptocurrency enforcement announcement slated for noon. Seemed like a layup, so much so that I questioned myself due to how much of a layup it seemed like. I bought a bunch of the wkly 50 puts, 45 puts and I sold the 53 put to buy 2x of the 51 put for .14cents, that I later flipped for .60 cents. There was a lot to like about this, stock was +3%, trading around 56 at the time. Less than 5 days earlier, the stock had been trading at 40, so odds of a retrace were high. Trade was close to instantly profitable and never looked back. Only regret was not selling the 60 calls to finance the 50 puts in ratio (i.e. selling 1x 60c for 3x 50p), I think that would have made a lot of sense given the circumstances. However, I really didn't have the luxury of time or clear concentration necessary I was lucky to put on what I did.

Yesterday AMC: AA, DFS, KMI
Today BMO: PG, TAL,

Other News:

Follow through names to watch: GS



Follow through watch:

Day before Y'day AMC: UAL
Yesterday BMO: PNC, SCHW

Y'day Other News:

2 days ago AMC:
2 days ago BMO: EDU, GS, MS, SI

2 days ago Other News: OSH drops on deal spec, sending otm puts juiced;

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