The first week is over and I am writing my first “Update” about my progress and what happened so far.
Stock 1
So the first action I tried was to double my call and place another bet around 1.40$. This bet never came into action, because the price did not go down again. So I cancelled it. The price grew a little more and is now at 1.55$. There was this large gap between 1.37$ and 1.45$ which I think is a gap that will not close. I rather think that is a “break away gap”, because of the recent rise of the price of the underlying asset. That is the lithium price and the company I bet on is mining lithium. The plan is to keep this one bet alive until the price is like 2$+. A double up would be nice. And it is difficult to trade the gaps that might not close. So I will set the target at like 2.52$. Once this level is reached, I will check the trend again and might take a profit. This is the 2 hours chart. The blue line is my call bet.
Stock 2
This is an annoying friend. I calculated – again – whats the stock actually worth by balance sheet, sales, profit and product. I have come to the conclusion that this stock being priced with 142$ today is worth actually around 3$. Yes 3. If my forecast is 1000% wrong, the target price is 30$. Still, that is a very large gap compared to whats going on now. I have placed another put bet, but the price did not go into my favored direction. That leaves me with a minus of -181,80 $. This is the 4 hours chart. This red lines are my put bets. (9 shares each)
Numbers
So here are the numbers of week 01. As you can see I am going quite risky with no stops or limits. I might take some later.
The profit was reduced to 33,8%. Let’s see what the next week will bring.