Zero To Hero Challenge Ep 13: Ready For Rocket

Gonna switch things up a little today as I shuffle my positions around. Started off the day by closing out my $FFIE cash covered put, where I had used $60 (plus $40 in premiums) to sell a put. This contract meant I was agreeing to buy 100 shares at $1 each by or before October 21st. With the market looking uncertain and Faraday having its own issues I decided to cut it loose at a mere $2 profit.

To close this position I had to buy back the contract I had sold previously. This was able to be done at a profit since Theta had decayed some value away.

I was sitting on a small profit overal for the day since my covered calls had dropped in value.

Bought-to-close these cash covered puts. Total profit was $2 or 5%.

I closed my covered calls on $BBIG also because I wanted to roll these over sooner. Opened up contracts that expire this Friday instead, hoping to see them expire worthless. In total I made $20 in profit on the contracts I sold and closed out, plus holding $20 in additional premiums collected.

The final thing I did was used all of my available buying power to purchase shares of Rocket Companies (RKT) because it is a great potential short squeeze candidate! I will follow up more on this later...

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