GME
I'm still seeking to play GME for quick long side trades. Most
recently I had sold puts for $0.90 at EOY expecting a short
covering profit taking bump at the start of this year, which
happened, then I sold $27 puts for $0.70 and it dropped with
guidance and the market. Last week I sold $26.5 calls on that
acquired position for $0.30 which expired, and this morning I
closed out the shares at just over $26.70, so effectively I made
back that $0.70. If it drops again to near $26 I'll probably sell
short term $26 or $26.5 puts again. Essentially, I'm thinking the
short interest is just so huge that there's bound to be frequent
profit taking spikes which will keep volatility and therefore the
price of options high.
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