May 22, 2020 

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The Week's Biggest Winner & Loser

Virgin Galactic (SPCE)

The week's Biggest Loser for two weeks in a row, Virgin Galactic (SPCE) only saw a piddly +0.77% gain in a week that saw substantial gains in a variety of riskier stocks similar to Virgin. Ouch.

Portfolio Allocation

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Current Position Performance

This Week’s Moves

SPY Put Spreads 5/29 & 6/12: Added to Position

When the markets came back from Tuesday's slight sell-off to retest the S&P 500's 200-Day Simple Moving Average (SMP) on Wednesday and the Volatility Index dropping more than -5% below 29, I decided to take out additional insurance by purchasing SPY 6/12 295-292 put spreads (buying the 295 puts and selling the 292 puts to offset the cost of the spread).

My existing 5/29 278-275 spreads had dropped to nearly worthless, so rather than take the entire loss, I bought back the 275 puts I sold at $0.49 each. My hope is that we see a selloff going into the month-end which may cause the naked 278 puts I now hold to pop and reduce the loss I would have taken from the spreads.

The new SPY  6/12 295-292 Put Spreads cost me just $0.99 each (options are sold in lots of 100 contracts so the actual cost is $99.00 each) with the potential to triple my investment with a maximum return of $3.00 or $300 per spread (the difference between the strike price I bought and the strike price I sold).

As for record-keeping, rather keep each spread as separate positions, I'm going to roll all of my portfolio's options together with one profit/loss for the entire option position. Wednesday's moves resulted in the total cost for my 5/29 puts and my 6/12 put spreads to ring in at $2.48 after all is said and done.  

My options position closed the week at $1.37, down -44.82% overall. 

Tradeweb Markets (TW): Profit-Taking

After the market's positively insane performance following Moderna's (MRNA) possible vaccine announcement on Monday, I decided I was pushing my luck with Tradeweb Markets (TW) and took profits on Tuesday at $62.00, pulling the remainder of my capital investment out of  the position along with profits of $10.10 per share (which explains the -$10.10 per-share price in the position chart).

My next buy target for the stock is $48.58, a past point of support, with no additional selling targets at this time since TW's making new all-time highs.

TW closed the week at $62.56, up +0.90% from where I sold on Tuesday.