Shared by
beno
Fundamentals
-Float = 27M
Catalysts / News / Painting the picture
-Jul 27 2020: Bitcoin price sympathy
-Nov 18 2020: Bitcoin price sympathy
-Nov 30 2020: New Bitcoin ATH today
-Dec 16 2020: Structurally significant ATH break-out of Bitcoin price
-Dec 23 2020: Effect on new $200M ATM
Technical Analysis
-SPY pattern: Consolidation
-Intraday pattern: Rug Pull
-Other notes: Clear ATM selling EOD, similar to RIOT action last week
Strategy / Confluence / Sizing Guide / Risk
Strategy: Macro break-out of BTC (and related equities)
Confluence: N/a
Strike Zone: N/a
Sizing (lots + emergency): 2 contracts
Risk (stop / Rs): expire worthless
Review / Lessons Learned
Dec 30: Opened position, bought 2x March 19 $12 calls for 3.51 each ($702)
Jan 06: Took 1 contract out at $17 MARA price ($7.5 call price), made 100% (still holding 1/2)
Jan 07: Took out last contract at $20 MARA price, made 1.5R on options but was less risky then the stock
Also Rs are wider when purchasing expiry further out because odds of ITM strike are bigger, higher win rate trade, next time I should do both options and equity.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2020-12-30 15:45:52 | MAR19 21 12 CALL | buy | $3.510 | long |
| 2020-12-30 15:45:52 | MAR19 21 12 CALL | buy | $3.510 | long |
| 2021-01-06 12:45:01 | MAR19 21 12 CALL | sell | $7.500 | long |
| 2021-01-07 09:38:40 | MAR19 21 12 CALL | sell | $9.620 | 0 |
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