Wed 9 Dec 2020 Morning Notes

Following on the heels of selling to open those KODK Dec 20 calls, I sold to open the SFIX wkly 65 calls when the stock was trading around 52/53/54 on yesterday's open.. but consider this! The weekly 65 calls traded with MORE juice than any of its options did PRIOR to the earnings release! By a HUGE margin too. I chalk that off to SNOW/ZS post-earnings moves, and people who have no idea what they're doing bidding up OTM options. I sold the calls in 3 separate transactions, my best fill was with the calls marked at 230% IV. The equivalent OTM calls prior to ER were trading at 160% IV. That is absolutely insane. The 65s were trading at nearly a 45% premium to what the equivalent calls were trading for heading into earnings, absolutely unreal. However, it's one of those things where you wonder if you're the one missing something and about to get #pwned. But after landing my fills, I was pretty much instantly up in the trade. Sold the calls for an avg of $1.47, and bot to close them literally a minute later for .76. It wasn't the type of trade I wanted to press, so I'm fine with seeing that they closed at .14 by EOD, another .62 I could have made. As far as I'm concerned, it was worth it to not risk getting my face torn off. Oh, and my KODK calls that I bought to close yesterday finished at .10 today. Again, didn't want to get my face torn off.

Yesterday AMC: CHWY, GME, MDB; AVAV, GWRE
Today BMO: CPB; LOVE, UNFI

Other News:

Follow through names to watch: SFIX, COUP, TOL 

GAINERS:
MTSC: +50% at 57.60 on acquisition by MTSC;
QS: +27% at 74 on being QS;
LOVE: +11% at 37.50;
LOW: +5.5% at 159.50 on guidance/buyback;

LOSERS:

FLAT:

Follow through watch:

Day before Y'day AMC: COUP, SFIX, TOL; CASY, HQY, SMAR
Yesterday BMO: AZO; GIII, HRB, LQDT, THO

Y'day Other News: KODK: +71% at 13 after govt review board found no issues with its shady loan; GSX: +9% at 66.50;

2 days ago AMC: 
2 days ago BMO:

Y'day Other News: FSLY ripped during market hours on Friday on a report that ORCL was interested in acquiring the company, the stock ripped from 86 to a high of 97 before settling below 90.