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Summary
- Bought the ATVI 20AUG 87.50 calls on May 3 at $8.05.
- Sold the calls on May 20 at $12.00 for a gain of 49.07% on the trade.
- 3% portfolio allocation.
Bought the ATVI calls on May 3 as a play into earnings - but I bought a day too early - should have waited to buy on May 4, the day of earnings, as the shares dipped another 2%.
After earnings the shares intially popped to $94.00 on May 5 but closed the day down at $90.00 - they bounced right back on May 6 and then churned sideways from May 7 to May 19 at around the $94.00 level.
On May 20 the shares popped higher - I closed out the trade when the shares were trading above the $97.00 level - the $98.00 level was my upward price target for the trade - close enough.
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