DISCLAIMER: This is a simulated educational exercise using paper trading fake money. This is not investment advice and is not intended to be copied.

TLDR

• Trades Monday 22 May
  • SOLD -1 BURL 26 MAY 23 160 PUT @3.00
  • SOLD -1 ZM 26 MAY 23 64 PUT @1.4
• Trades Tuesday 23 May
  • BOUGHT (To Close) 1 BURL 26 MAY 23 160 PUT @1.10
  • BOUGHT (To Close) 1 ZM 26 MAY 23 64 PUT @0.4
  • SOLD -1 NFLX 26 MAY 23 345 PUT @1.43
  • SOLD -1 SNOW 26 MAY 23 160 PUT @2.23

Today In Review

Covering Monday and Tuesday this week together in this post.

Monday

First thing I noticed Monday were some new names popping up on the watchlist. Particularly BURL and ZM.

For BURL I noticed the technicals were generally bullish, the premiums were high, and conceptually there could be a rally around it due to the earnings performance of TGT the week before.

Given it was clearly oversold and the premiums seemed too high, I went after it. While trading around $167 I wrote a $149 strike for a $3 premium.

Now ZM was an interesting one. The MACD and Ichimoku cloud were bullish, but the RSI was very over-bought:

I didn’t know what to make of this, but with a lot of momentum indicating there was room on the floor I decided to give it a try. While trading over $71 I wrote a put for $64 strike at a $1.40 premium. I’ll try to buy this one back quickly, which leads me to Tuesday!

Tuesday

First thing I did Tuesday morning was check my open BURL and ZM position. Both of them were more than 50% cheaper than yesterday. I decided now was a good time to get out and take a quick small profit. So I closed out my BURL position for a $1.10 premium ($1.90 profit) and ZM at a $0.40 premium (a $1 profit).

Looking for some new opportunities I ran into two usual suspects, SNOW and NFLX.

SNOW doesn’t always get flagged by the AI so I thought I’d inspect closer. SNOW has been in a strong uptrend over the last month (up ~20%) so I’m fairly cautious of it. There’s a ton of space until you hit resistance, and most of my favorite technical indicators trend bearish:

Either way, I had one of my “fake money, yolo trust the AI” moments and decided to give it a try. They have earnings this week and historically they tend to beat earnings and revise higher (from what I read). Maybe that’s baked in already which gives even more downside risk. But with 3 DTE I figured I can just buy it back at a loss if needed. While trading at $176 I wrote a $160 put for a $2.23 premium.

NFLX was same old story. Decent premiums, stock that has some momentum behind it, etc. They just moved their password sharing crackdown to the US which picked up the interest I think. I decided to try it out. While trading at $356 I wrote a $345 put for a $1.43 premium.

Portfolio Standings

Portfolio Value (Open) (Monday)	$ 103,784.50
Portfolio Value (Close) (Tuesday)	$ 104,486.50
Change (M-T)	0.68%
Change (Tot)	4.49%
Free Cash (Close)	$ 37,703.50
Escrowed Cash (Close)	$ 50,500.00
Equities (Close)	$ 16,283.00
Trades Made (M-T)	6

Closing Thoughts

ENPH STILL dragging down the portfolio a bit, looking forward to closing that position out in a month! Will be closely watching SNOW and willing to take a loss on my gamble