Let’s do quick run through of the positions in my Savvy Trader portfolio (all green Thursday, very nice) and what to expect from here.
This small, swing trading portfolio is up 16.85% for 2023.
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And now to each holding and a chart or two.
ET
Energy Transfer, ticker ET, touched $14.10 on Thursday.
This is a penny above its recent high and I like it to continue higher along with the energy sector in general.
There are few charts that look as nice as this one. I am considering adding to the position if it breaks above $14.10 meaningfully.
ET is not great for selling covered calls, which is part of the focus in the portfolio.
ET brings in about 1% for calls sold at the $14.50 strike and that is if you go out 43 days to the Dec 1st expiration date.
I prefer more premium, especially when I think shares are likely to move higher than the strike price.
CPNG
CPNG on the other hand can bring in a nice premium right now.
Selling covereed calls at the $18.50 strike, with the Nov 10th expiration date brings in about 3% with room for shares to still rise.
There is an additional 4.5% of runway from Thursday's close to the strike price.
I like this trade.
I also like CPNG to make a move higher after bouncing nicely off of the 20-day simple moving average (SMA).
AMD
AMD stalled out a bit but is holding the line at $102.
Targeting a push to the next volume shelf above at $107.50 it was good to see a positive Thursday when every other semiconductor name sold off, including NVDA.
Implied volatility is high for AMD, selling cash secured puts at the $100 strike with the Nov 10 expiration brings in $435 as of Thursday's close.
That's 4% in three weeks. Not bad.
I hope you are all having a profitable week. Close it out strong!
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This service is for general informational and educational purposes only and is not intended to constitute legal, tax, accounting or investment advice. These are my opinions and observations only. I am not a financial advisor.
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