Rocket Equities & Options Update 12-02-20
CRM Update
CRM came out with decent numbers last night. They are buying Slack for $27 billion. CRM is trading down $16 at about $225.00 this morning.
We're gonna let both of our trades play out this week.
If we get assigned CRM in our long term portfolio at $220 then we've basically entered into the stock at $218 when it was just trading at $266 las week. That's an 18% discount from it's price of last Wednesday.
If we don't get assigned and CRM stays above $220 on Friday then we'll pocket the profits. I like both possible scenerios in CRM for our long term equity portfolio.
We will hold our option trade and look for CRM to close out the week above $222.50.
We're gonna let both of our trades play out this week.
If we get assigned CRM in our long term portfolio at $220 then we've basically entered into the stock at $218 when it was just trading at $266 las week. That's an 18% discount from it's price of last Wednesday.
If we don't get assigned and CRM stays above $220 on Friday then we'll pocket the profits. I like both possible scenerios in CRM for our long term equity portfolio.
We will hold our option trade and look for CRM to close out the week above $222.50.
We have a big day of earnings tomorrow. We also get November payrolls on Friday morning.
Thursday: The Michael’s Cos. (MIK), Dollar General (DG), Kroger (KR), DocuSign (DOCU), Ulta (ULTA), Cloudera (CLDR) after market close.
ADP Employment Change is out later today with the expectation for November at 420,000 added (365,000 in October).
Stay tuned for updates!
Thursday: The Michael’s Cos. (MIK), Dollar General (DG), Kroger (KR), DocuSign (DOCU), Ulta (ULTA), Cloudera (CLDR) after market close.
ADP Employment Change is out later today with the expectation for November at 420,000 added (365,000 in October).
Stay tuned for updates!
Options Trades:
Sold a vertical call spread in CRM expiring Dec 4th $222.50 - $220.00 for a net credit of about $0.50. CRM is trading at $225.00.
Short Term portfolio:
None
Long Term portfolio:
Sold a Dec 4th $220 CRM put for about $2. This should be a cash secured put as we plan to take delivery of the shares if assigned. CRM is trading at $225.
Long half position in DIS at $118.63. Disney is trading at $149.44. Stop is $98.45.
Long half position in UBER at $31.50. Uber is trading at $49.63. Stop is $26.24.
Long half position in MCD at $216.91. MCD is trading at $216.14. Stop is $189.50.
Sold a vertical call spread in CRM expiring Dec 4th $222.50 - $220.00 for a net credit of about $0.50. CRM is trading at $225.00.
Short Term portfolio:
None
Long Term portfolio:
Sold a Dec 4th $220 CRM put for about $2. This should be a cash secured put as we plan to take delivery of the shares if assigned. CRM is trading at $225.
Long half position in DIS at $118.63. Disney is trading at $149.44. Stop is $98.45.
Long half position in UBER at $31.50. Uber is trading at $49.63. Stop is $26.24.
Long half position in MCD at $216.91. MCD is trading at $216.14. Stop is $189.50.
Timer Digest Signals: S&P: Bearish Gold: Bullish Bonds: Bullish
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