AC (Short position for the interim only)

AC had an unbelievable run on the 9th. Although, that run was consistent with the entire stock market, mostly the result of Biden winning the election and other news. Although, there was no material change for the company or the stock.

This means that AC went up significantly for events and reasons which are not related to AC itself; as such, I expect a short term correction.

I am in a short options position, very small one.

Put option Expires 27th, November with a strike price of 18.50. purchased at .50 with a last price of .92!

Comment:

Sold my puts at 25% returns. On Monday I may re-enter the same trade idea, puts on the short term basis, then long at a bounce.

Unless ofcourse it opens at a gap down on Monday.