Trade Update
Friday's market action in the last 30 minutes of trading was surprising. If I would have sat on my hands and done nothing until the last 15 minutes, I would have gotten better premium for rolling my short call. At closing LVS was at $45.03, meaning I would have gotten called out. Now, woulda, shoulda, coulda... I deal with my trades at lunch time on Fridays.
Something else I would want to point out here. There is potentially a W pattern (orange lines) completing. With the big run today, there is still some money to be made. If the W completes, the next target is the height of the W (about $3), so $50.
Disclosure
I have been beneficially long the shares in LVS and short the call in LVS. I wrote this article myself and it expresses my own views and opinions. I am not receiving any compensation for this. I have no business relation ship with any company whose stock is mentioned in this article.
I am not an investment advisor or professional. This article is my personal opinion and experience and is not meant to be a recommendation of the purchase or sale of a stock or option. Investors should conduct their own research before investing to see if the companies discussed in this article fit into their portfolio parameters.
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