This is a bet on Chamath's decision making. He's done well with SPAC's in the past and I believe this will go the same way.
Lots of time, 102 days until expiration after entry, for me to wait for one catalyst, "Who will IPOE take public?"
Entry at 2.70 with a stop loss at 2.20 and a plan to trail the stop upwards if necessary.
Got out at 9.60 after it was announced that IPOE would acquire SoFi. I sized up because I believe in Chamath and I think the market has underestimated him. In this case, I was proved right. Glad to have a big winner like my ARKK trade awhile back.
Biggest green day ever but I'm not very emotional about it. Just focused on refining my process and consistency and letting the results come eventually.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2021-01-04 15:57:03 | 16 APR 21 10 CALL | buy | $2.700 | long |
2021-01-07 13:07:47 | 16 APR 21 10 CALL | sell | $9.600 | 0 |
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