Liz here, taking a couple of sick days. Well, to be precise, a sick day and a half. You’ll be getting an email from Hologram Liz tomorrow, while I take some nausea pills and tell Pip to chill out. (He rarely listens, which bodes well for all of us in the future.)

On the bright side, we did get his room finished this weekend, so there’s that!

Also on the bright side, our PTON calls from Thursday are already headed up (they were at 26%, last I checked), so keep an eye on those! When they get up above 30%, my arbitrary threshold, we’ll take off half.

I’ve developed a whole set of arbitrary trading rules over the past year (hard to believe this eletter launched almost a year ago!) They include…

  • “If a position hits triple digits, close it out immediately,”
  • “If it hits 30% or better, take off half,”
  • “If it hits a second round of double digit gains, close out half of that position and leave the rest for F.U. money,”
  • “Don’t put potted plants on the sunny end of the deck” (that’s not a trading rule but it’s been one that has served me well in my personal life).

“F.U.” money is Mark’s term, so thanks for that, Mark. You have immeasurably changed my life, we’ll say for the better.

And thanks for these quick-hit puts on SOFI, a weird online bank.

I Still Maintain That Online-Only Banks Are Not A Thing

I’m with Tim Melvin, who thinks you should invest in small regional banks made out of bricks, because they are the only thing that will be left standing when the world of high-tech finance has crumbled into ashes around us.

The only thing I personally need to know about SoFi Technologies Inc (NASDAQ: SOFI) is that they’ve partnered with patented BLEH stock Coinbase, and the only thing Mark needs to know about them is that institutional buyers are making great big short bets.

Well, that and, in his words, “It failed the 200 DMA and IV is starting to rally.”

66k of the $5 puts shown above have already traded, so he wants us to hop into the $5.50s.

Here’s what to do….


Action to Take:

Buy to Open SOFI July 29 $5.50 puts for $0.32 or better.

Enter as a Good til Canceled (GTC) order.

Hang loose — and don’t forget to keep a sharp eye on PTON. As I write this, your puts are at 27% and climbing.

I’ll see you in hologram format tomorrow, and then back to regularly scheduled programming on Wednesday.



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