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Winner: 49.07% Gain On ATVI Calls

May 21, 2021 9:19 AM ETActivision Blizzard, Inc. (ATVI)
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  • 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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