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December 12th, 2019 at 11:08 am
I have a few short calls I'm trying to fix (or wait to fix).
SIG short $17.5 Jan 2020 calls that I sold for $1.65. Wasn't expecting to see them blast higher by a third. So far, I've been waiting for the premium to die down a bit more (or hopefully a pullback) before buying them back. I do plan on rolling before the end of the year. My plan for the roll is April $22s at $3 which would lock in a small loss but I figure I could make that up on another quarterly sale in April. These are currently covered by $8 2021 Longs and I also have short 2021 $13 puts.
With plays in LB, SIG, and M, I decided to use XRT as a hedge. Terrible idea–XRT is a garbage hedge for these retail plays so nobody make the same mistake as me. http://schrts.co/ekIxvfur if you want to see the perfchart on the relative performance of these stocks.