As great as this morning was, I was annoyed and concerned about my Costco (COST) put position, since prices were pushing higher (pro tip: see red arrow). I suspect this mostly has to do with money fleeing tech stocks and going ANYWHERE else. I’m pleased to report I swatted by hand away from the Sell button, because I’m trying to remind myself that these are January puts with gobs of time left.
As you can see, the entire “lift” was laid waste, and COST is showing a nice loss now, as God intended ™. The daily chart illustrates the breakdown we’ve seen happening for the past month or so.
Longer-term, you can see the raw potential of the nominal intrinsic value for this sucker. In fact, just to firmly pat myself on the back, a moment after I convinced myself not to sell my puts, I DOUBLED my position. So far, so good!
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