UPST put

The premiums on UPST were too good to pass up this week. They had earnings coming and I figured that even if I was assigned PUTs then I would spin them for ongoing CALL revenue until they were called away.
Then UPST basically beat expectations and stated they had secured longer term funding that would keep them in cash for a while.

My ~9% weekly return missed out on the ~35% pop this morning. HA! At least I kinda called the earnings turn correctly.

(PS. - I am posting this because the people that don’t do options always point out that you “could” just miss out on the run, why not buy it anyway??? I don’t want to own this, and only HINDSIGHT shows us that this happens…sometimes. There will be plenty of time to re-own UPST in the future if I want to.)


That was a sweet options play. You were in and out of the market in less than a week with a 9% profit. You minimized your exposure to the vagaries of this sideways market. You have cash in hand ready to invest again this week…doc