Risk Disclaimer

The positions in this portfolio are incredibly risky and extremely volatile.

No one at Get Irked is a professional financial adviser (or a doctor), so consult with your own financial adviser to see if any of these positions fit your risk profile (and stomach).

Virgin Galactic (SPCE)

Despite not reporting earnings until next week, Virgin Galactic (SPCE) crashed through the stratosphere this week, dropping -13.97%. Given that the week saw a lot of speculative positions get wound down, I’m assuming that’s what caused SPCE to notch another Week’s Biggest Loser on its belt.

Golden Minerals (AUMN): Added to Position

When gold sold off to new lows on Thursday, I added to one of my long-standing, ultra-speculative, penny-stock, super-junior, gold miners, Golden Minerals (AUMN), when it tested its recent lows with a buy order which filled at $0.2232 (yes, this stock is so stupidly speculative that the price goes out to the 4th decimal point).

The buy lowered my per-share cost -27.59% from $0.4277 to $0.3097. Again, I must emphasize: I am fully prepared to lose every single penny I have speculated in this position – this is a lottery ticket, not an investment.

From here, my next buy target is $0.1359, slightly above AUMN’s all-time low, and my next sell target is $0.3099, slightly below a key point of resistance Golden Minerals has been experiencing over the past few months.

AUMN closed the week at $0.2182, down -2.24% from where I added Thursday.

SPY 3/3 Put Spread 400-398: *Closed +76.96% gain*

When the inflation data came in hot on Friday and caused the markets to sell off, my SPY 3/3 400-398 Put Spreads started to become significantly profitable. While I was originally targeting a 100% gain (a double of the money I risked) before I closed the spreads, I decided the prudent course of action was to close the spreads given that there was only a week until expiration and the S&P 500 had become a bit oversold and could bounce within the next couple of days, rendering my spreads worthless.

On Friday, I closed the put spread and since there are two “positions” in a spread, the options I own and the options I sold, it looks like this:

• I bought the SPY 3/3 398 puts I was short for $6.1165 per contract (after fees).
  
• I sold the SPY 3/3 400 puts I was long for $7.4334 per contract (after fees).

Remembering that contracts are sold in lots of 100, that means my net revenue for each spread I closed was $131.69 or $1.3169. Since my cost was $0.7442 per spread, this means I collected a gain of +76.96% over the course of a month.

Sure, I did leave some money on the table, but I captured 66% of the maximum profit available in the trade and got out without getting my head taken off. As I like to say:

You will always leave money on the table.
If you’re good, you won’t leave ALL of it.

 
As an end result, the profit from this trade added +1.77% in gains to the entire portfolio’s bottom line. Not bad for a month’s work.