Starting this new journal series to summarise my options trade for any particular day.
5 April 24 Trades
[Trade 1] Bought 3 x Micron CALL
I added 3 more positions to my original 5 positions of Micron Buy CALL contracts, with an expiration date of 20 Sept 24, at SP of USD200. I believe Micron will continue to do well in this AI revolution. The management had given good forecast for the year ahead and possibly beyond. Further read below on how Micron will benefit and contribute to the AI revolution.
Details here: [5 April 24] Bought 3 More CALL Contracts On Micron
[Trade 2] Convert 7 x Palantir SELL CALL into SELL PUT Contracts
One of the biggest mistakes that I made in trading year 2023 was to sell Covered CALL (CC) on all my shares when the stock market was bottoming and was about to start its bull run. I sold CC on Palantir when it was trading below USD10 and had since been stuck on those CC contracts for more than a year (since Jan 23).
So today I decided to convert 7 of my SELL CALL contracts into 7 SELL PUT contracts, at the expense of $8k liquidity drop. However, my 700 shares are now free to be sold (no longer bounded by the covered call contracts that went wrong) as I near my breakeven price for Palantir (USD26.79).
Details here: [5 April 24] Convert SELL CALL to SELL PUT for Palantir
Read more about how I fix my broken CALL & naked CALL contracts here:
I Found A Way To Fix My Broken Covered CALL & Naked CALL Positions, While Releasing Stuck Shares, Unrealised Profits, Without Hurting Liquidity
[Trade 3] Rolling 1 x Tesla SELL CALL Contract
When I opened these positions, it was ATM SELL CALL at USD165 which later became ITM SELL CALL when Tesla share price rose. I rolled one contract to a later date to make it OTM with the goal of letting it expire worthless on expiration date.
Details here: [5 April 24] Rolled One Tesla SELL CALL to 1 Week Later + Higher SP
Micron Technology & AI Revolution
Micron Technology Inc. plays a crucial role in the AI revolution, leveraging its cutting-edge memory and storage solutions. Here’s how Micron benefits from and contributes to this transformative era:
- Generative AI Experiences:
- Micron’s purpose-built memory and storage solutions enable endpoint generative AI experiences.
- From real-time natural language processing to personal assistants and AI artwork, Micron provides the speed and capacity required to run generative AI applications on endpoint devices.
- Smart Manufacturing and Quality Enhancement:
- Micron integrates AI into its smart factories to enhance productivity and quality.
- By analyzing data from multiple points, identifying risks early, and taking preventive measures, Micron achieves better productivity, faster technology implementation, and efficient resource utilization.
- Supercharging AI Infrastructure:
- Micron’s storage and memory products, alongside GPUs, supercharge AI infrastructure.
- These components are critical for advanced AI/ML and deep learning solutions deployed globally.
- Innovation Across Business Processes:
- Micron optimizes manufacturing processes using AI, from the front end to assembly and testing.
- Their commitment to innovation ensures that AI and memory solutions work hand in hand.
In summary, Micron’s expertise in memory technology empowers AI applications, making them faster, smarter, and more efficient.
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