2020: Week 20

Weekly Portfolio Chart

My work life has been as volatile as the markets lately. Turns out, I’m not cut out to work for huge retail corporations. After only a few days on the job of driving a forklift and unloading trucks, I knew I wouldn’t last in this job long term. It’s sort of soul crushing when everything you accomplish in one day essentially has to be redone the next with no hope of ever finishing the job. Trucks arrive, I unload them, other employees move the product around to various parts of the store, consumers consume, and in the morning I start unloading more trucks. I know that most jobs can be reduced to repetition, but in this case the endlessness with no sense of accomplishment got to me.

Thankfully, I had another job opportunity fall into my lap. I interviewed on Tuesday, and after next week, I’ll be starting a new job as service technician for a home maintenance company. This company is owned by a friend of a friend, is still small, and I will get to go to a new place multiple times a day. The other issue with working for the giant home improvement store was that I never had time to continue working at my main job as a leather craftsman. This new job seems to solve most of these issues. Anyway, on to the trading!

New Positions

  • F $7 Long Call Exp: 1/15/21

I added another call here for $30. Ford took a dip this week and I didn’t want to pass up the opportunity to lower my cost basis and strike price on my long call positions. I will be selling my $10 long call so as not be too overloaded.

Realized Profits & Losses

  • CLOSED: F $4 Long Put (2), Exp: 5/15 – Realized: $42 loss
  • CLOSED: F $5 Short Put (2), Exp: 5/15 – Realized: $22 profit

My plan to minimize my losses worked in part. I would have been better off closing both sides of this thing last week on Friday, but hope, as always, was my enemy. Ford dove pretty drastically and minimized my chances of total success. On Friday, 10 minutes before the close, Robinhood closed the position out for me to make sure I wasn’t assigned the options since Ford’s stock price wasn’t quite above $5. It could have turned out better, but for a while there it really had the potential to turn out a whole lot worse. All things considered, I’m very happy with the results. I’m still learning to take smaller swings though. This whole series of trades was another lesson in that.

Position Brief

TickerPositionUnrealized P/L
FLong Call (Exp: 9/18 $9 Strike)-$12.00 (-70.59%)
F2 Long Call (Exp: 1/15 $7 Strike)+$4.00 (+5.71%)
FLong Call (Exp: 1/15 $10 Strike)$0.00 (0.00%)
F10.52 Shares-$18.45 (-26.44%)

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