jay_beckner

I play poker and trade options, seeking edges from study, reflection and analytics.

#004 FIT Calls Closed Profit

Trade Details: Sold to close 10 Oct 16th Fitbit Inc. (NYSE:FIT) 14 calls for $1.26 (in at $1.20 for 4 days), $1,249.57 total proceeds. The trade executed at 09:45:30 when the stock was approximately $14.55.

Return: 3.2% after commissions

Note: Obviously, last Friday was a wild ride for the markets. Since opening this trade, market volatility has risen dramatically as members of the U.S. Federal Reserve continue with hawkish comments on future interest rate policy. That volatility actually helped this option position maintain its profit as markets closed last week. This morning's rally off of pre-market lows (as indicated by trading in U.S. index futures) seemed to indicate a short-term reversal in sentiment, and FIT got a pop as well. As the pop was sold, my stop-limit order was filled.

As I write: FIT is hitting new highs for the day. However, with most of my account in play, breach of key a support level ($14.39) and lots of downside risk present, it was prudent to book a small profit and move to the sidelines.

Status: Account $1,358.51 | Q1 Return 171.7% | Q1 Goal 60%

#005 TWTR Calls

#004 FIT Calls