Jan. 1 at 6:52 PM
$HOOD not touching my shares. Adding long term calls hedged with short term puts ONLY as protection, at this point. How many times in the last 3 months did it look like 100 was in the cards only to swing right back up to 120s-30s. 112 is "relatively" cheap. Its a new year. Year end rebalancing, tax loss selling, etc is behind us. By the end of next quarter I believe firmly that we will be pushing new highs. That said it would be intentionally ignorant to ignore the downtrend we've been in since last earnings. Play it safe and assume it will continue until it proves otherwise. That means paper losses on long calls and potential profits on puts until they pump it again. Cant time the bottom. But the closer to 100 it gets the riskier it is in my opinion to be a bear. If it ever does breach that magic number then ill be forced to re-strategize.
