Here are some trades that I made on 28 May and the reasons why.
[28 May 24] Bought Nvidia Shares & Options Contracts
I bought more Nvidia shares to make my total number of shares into a round number, i.e. from 124 to 130 shares. This will help in my strategy to fix my broken Nvidia CALL when the stock split happens on 6 June 24. Also, I am expecting Nvidia to stay above USD 1020, thus I put up new Bull CALL Spread positions that allow me to gain if Nvidia stays above USD 1020 on the expiration date of 28 June 24.
More details on the trades can be found on my Patreon Page (click here to access)
[28 May 24] Convert AMD SELL CALL to SELL PUT
I am bullish on AMD and there is still so much room to grow before it reaches its all-time-high share price of USD 227. Therefore, I am converting my AMD position from bearish (SELL CALL) to bullish (SELL PUT). If AMD continues to rise, this contract premium will soon become lesser and I may be able to close it with a profit.
The downside of this trade was that it consumed almost 11k of excess liquidity but the good news is that all my 100 AMD shares (average price of USD 155) are no longer bounded by any options contract and I can sell them for profit anytime I want.
[28 May 24] Bought 0.8 shares of MSTR
MicroStrategy (MSTR) is my indirect exposure to cryptocurrency, in particular Bitcoin, as it is a company that owns many bitcoins. The price of Bitcoin has been trading sideways and there is the likelihood that it will surpass its all-time-high of USD 73k, So, with every dip, I accumulated some fractional shares as part of a longer-term investment in cryptocurrency.
[28 May 24] +USD261 Profits, Closed Nvidia BCS Position
I closed this position that I opened on 23 May to take a profit as well as to improve my excess liquidity. There was a further 7.6% upside profits to max gain but I chose to keep the bird on my hand and eliminate any risks that may come if Nvidia’s share price dipped. Furthermore, I have already started new vertical spread positions with higher strike prices on Nvidia.
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