We bought AAPL on the Jan 3rd low using a mildly conservative vertical call spread strategy via the January 2021 $210 / $230 vertical call spread which was purchased @ $2.20. The max value of this spread = $20 which is a 809% gain so long as AAPL gets back @ or above $230 upon expiration. We don't necessarily intend on waiting for expiration however as we've been trading the value of the call spread. When AAPL broke back below $200 however we initiated a more near term short strategy imploring the July $200 strike puts which were purchased @ $5. We have since added to these puts & will be watching very closely to add yet again if we can get a closing day below $175.
We have been raising cash since May 1st & May 10th & in several other areas in mid to late May. The theme of this market is be very cautiously bullish. The bears have earned their sell the bounce coupon and the bulls still have a buy the dip coupon but we don't see any sign of that being used just yet. We are looking extreme capitulatory oversold readings before increasing net long exposure. We don't have that just yet so be cautious about over allocating on any buy the dip theme.
Long GBTC since Bitcoin broke back above $6,000
Short SPY July $200 puts since May 1st
Short AAPL since broke below the $200 area & added
Long TSLA via call spread around the $200 & $190 area with the intent to add on a purge to $150 via conservative call spreads
We have been raising cash since May 1st & May 10th & in several other areas in mid to late May. The theme of this market is be very cautiously bullish. The bears have earned their sell the bounce coupon and the bulls still have a buy the dip coupon but we don't see any sign of that being used just yet. We are looking extreme capitulatory oversold readings before increasing net long exposure. We don't have that just yet so be cautious about over allocating on any buy the dip theme.
Long GBTC since Bitcoin broke back above $6,000
Short SPY July $200 puts since May 1st
Short AAPL since broke below the $200 area & added
Long TSLA via call spread around the $200 & $190 area with the intent to add on a purge to $150 via conservative call spreads
