Winner: 8.47% Gain On UPS Calls
Summary
- Bought the UPS 16APR21 160 calls on Jan 12 and Feb 4 for an average cost of $9.68.
- Sold the calls on Mar 11 at $10.50 for a gain of 8.47%.
- 6% portfolio allocation.
I bought the initial UPS call position on Jan 12 when I received a bullish buy signal (my price bar turned green) - turned out to be a false signal as the shares faltered and dropped all the way down to the $156.00 support level by Jan 19 - on Feb 1 the shares re-tested the $156.00 support level for the second time and then started to rally - I added to the call position on Feb 4 after three consecutive green bars confirmed a bullish turn - the shares then rallied up to the $168.00 resistance level - I did not close out the position, thinking that the stock had enough bullish momentum to climb to $170 - instead, the shares failed at $168.00 and dropped all the way back down to $158.00 by Feb 26 - the shares then rallied back to the $168.00 level on Mar 11 and I closed out the position for a smallish gain - fool me once, shame on you, fool me twice, shame on me.
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