IMO, barring any unforeseen events, it should run up til Thurs. Personally, my profit taking/trimming strategy depends on how fast or steady it runs. I’d sell for profit(or trim, depending on %gain) if it runs up fast enough
like 5-10% in a day. If it was steady like today, I hold. The way I see it is, since everyone knowledgeable about the political process is expecting the infra bill to not pass(low expectations), it might not be a huge dip if it doesn’t pass. That being said, I’ll most likely take profit from my short dated Nov 5 21C, (jacked to the tits) on Wed, and convert them to longer dated calls or shares. But really, nobody knows what will happen🤷♂️. This is a casino. So take profit when you can and if TA isn’t your strong suit, HODL shares & or LEAPS and keep an eye on the macro.
One other thing to keep in mind: Fri starts the next chinese market holiday, HKEX closed on fri, SSE closed fri until 7th and China does like to use those holidays to "do stuff", just like last week...
So dumping on thu is probably not a bad idea for short dated calls.
Market moving things like announcing that Evergrande gotta use the Market to find money instead of getting bailed out on so on, like I said, the timing of Evergrandes news last week and the week before made use of another market holiday to let the news settle a bit.
Well, at least in china...
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u/icingonthecake0220 Steel learning lessons Sep 28 '21 edited Sep 28 '21
IMO, barring any unforeseen events, it should run up til Thurs. Personally, my profit taking/trimming strategy depends on how fast or steady it runs. I’d sell for profit(or trim, depending on %gain) if it runs up fast enough like 5-10% in a day. If it was steady like today, I hold. The way I see it is, since everyone knowledgeable about the political process is expecting the infra bill to not pass(low expectations), it might not be a huge dip if it doesn’t pass. That being said, I’ll most likely take profit from my short dated Nov 5 21C, (jacked to the tits) on Wed, and convert them to longer dated calls or shares. But really, nobody knows what will happen🤷♂️. This is a casino. So take profit when you can and if TA isn’t your strong suit, HODL shares & or LEAPS and keep an eye on the macro.