Pot Stocks Down, But at Least I Made Money on Trump
by JDH on November 10, 2018
We’ve seen this movie before. The media says Trump is going to lose the election, and then he wins, and the markets go up.
So, on Tuesday, I bought SPX calls, 2770 strike, expiring on Friday, for an average price of around $14.00
On Wednesday, after Trump lost the House but increased his seats in the Senate, I sold them for $25.
Not bad for a days work.
Yes, it was a pure gamble. If he lost the Senate the market would have tanked, and I would have been wiped out. (Not that I was playing with real money; it was few dollars I could afford to lose). But he didn’t lose, and I pocketed the cash.
Now what?
I expect that now that Jeff Sessions is out as Attorney General, Trump will make a deal with the Democrats to turn over marijuana legalization to the States, and the pot stocks in the USA will go way up, just as they did in Canada prior to legalization. So, I’m holding.
That’s the update. More next week.
Pot Stocks Down, But at Least I Made Money on Trump
by JDH on November 10, 2018
We’ve seen this movie before. The media says Trump is going to lose the election, and then he wins, and the markets go up.
So, on Tuesday, I bought SPX calls, 2770 strike, expiring on Friday, for an average price of around $14.00
On Wednesday, after Trump lost the House but increased his seats in the Senate, I sold them for $25.
Not bad for a days work.
Yes, it was a pure gamble. If he lost the Senate the market would have tanked, and I would have been wiped out. (Not that I was playing with real money; it was few dollars I could afford to lose). But he didn’t lose, and I pocketed the cash.
Now what?
I expect that now that Jeff Sessions is out as Attorney General, Trump will make a deal with the Democrats to turn over marijuana legalization to the States, and the pot stocks in the USA will go way up, just as they did in Canada prior to legalization. So, I’m holding.
That’s the update. More next week.