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Strategies & Market Trends : LPL -- leader in World's TV Industry

LPL 5.010

+3.9%

Oct 31 9:30 AM EDT

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To: Cooters who wrote (49)	2/1/2021 4:51:09 PM
From: chessboard_andy	Read Replies (1) of 76

I'm still in for my trading and core positions. From a trading perspective, I feel that the trading action on 1/29 was really pretty good for a down day. The trading basically mimicked the support levels seen on 1/14&15 with some support at 9.62ish and again at 9.45ish. It was a great close on Friday above that $9.62 line of demarcation followed by a nice candlestick and volume today that held up nicely throughout the session. The fundamental story is more nuanced from me, and I wish the questions on the CC had been more meaningful as to CapEx planning. My core position currently has covered calls at a $12.50 strike sitting on most of it (April strike), and I'm not super inclined to remove them. I have enough exposure at lower strikes out through July to utilize those to re-evaluate and re-enter as that date approaches. (It will also allow me to harvest some long-term gains and avoid some short-term gains I exercise some call contracts rather than trading out.) Volume and price tomorrow seems particularly important to see if we can get some money flow into the stock for a continued upward march towards $12.50 and beyond. The July $17.50 action ended today. Playing with my P/L calculator, I still believe this was some sort of a proprietary synthetic long position with the calls bought at ~$0.2 and puts sold at ~$7.35. I will be watching the exit door carefully to see what the fund thinks over time. If the call side gets juicy and moves over $0.5, I would be shocked not to see an unbalanced deleveraging of that side of the trade. Perhaps selling 25-50% of that position. Selling more than that would indicate (imho) an exposure that the $17.50 was not based on any real analysis. Andy

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