A Guy With An Idea

What happened last week?

In a week when stocks are diving and buying the dip is backfiring, here’s what is happening here:

• APA 9/23 Call @ $40 was assigned. I had sold a covered call the week before believing the price would stay at least flat, if not fall. A brief rally above $40 caused the call to be assigned. Price is now back down to $33. Made a sligh profit, but nothing to write home about. I still think this is a stock worth owning, but will be more conservative with selling covered calls on this one moving forward.
• OM trailing stop loss sell order triggered at $15.39. Current price is $14.72. The short selling pressing on this one is still too bearish for my taste. I thought I saw something in the technicals to indicate the bottom had likely been reached, but I was wrong. Lesson learned: don’t rush. This was a trade of opportunity and it bit me.
• Bought half a lot of SMPL @ $29.40. I really like this company and have been sitting on the sidelines, watching it a while.
• Bought 2 EURN 10/21 calls @ $20 (more on options later). I’ve been an investor in FRO for years and I think this one will be interesting, as EURN and FRO merge.

Queued for coming week:

• Buy orders on EURN, FORM, PFE, and TWLO : 25% trailing stop loss on these as there is still a lot of thrash on the market prices of each. But all are trading sub- 2.5 price/book with good future cash flow projected.

Stocks I’m watching:

• Allstate (ALL): They’ve been my insurer since I was 20; sales just keep climbing; they pay a dividend.
• Rio Tinto (RIO): 13% yield on their dividend
• Okta (OKTA): Their stock price was recently eviscerated; they’re trading at a 52-week low – basically at book value.
• Anheuser-Busch InBev (BUD): It’s at a 52-week low; EPS is back on track; beer consumption is still on a tear.