Hi Traders! My portfolio is made up of 50% cash, 30% long term value & growth stocks, and the rest is split between Options plays for income and speculative stocks. Since January, with the volatility in the market, my portfolio is down 21% (OUCH!!) In reviewing it closely, I have several “holes” that were mostly all Put shares on speculatives which are largely causing the constant 1-2% daily decline. I hate to sell stocks during a down market so only want to do so if the opportunity cost really is greater than waiting it out 6-12 months to see if we get a rebound.
Curious your (educated) opinions on if there's reason to believe if any of the following “holes” in my portfolio may see a resurgence of sorts? Most of these I missed the boat on having Stop Losses after being put the shares (lesson learned). I erroneously was thinking we were going to have a 10% pullback, not a near 20% correction, thus sold these puts near the 8-10% down. I do sell Covered Calls on my shares to try to reduce the Cost Basis over time, but these are so upside down, I hesitate to sell them below my purchase price unless at least 85% OTM when RSI > 50.
- SPOT Cost Basis: $240, Current $124 — Cut my losses or wait it out long term?
- CHWY Cost Basis: $93, Current $39 — Cut or wait?
- PINS Cost Basis: $55, Current $23 — Cut or wait?
- LMND Cost Basis: $64, Current $19 — Cut or wait?
- CVNA Cost Basis: $285, Current $113 — Cut or wait?
- PTON Cost Basis: $55, Current $21 — Cut or wait?
- TWTR Cost Basis: $54, Current $33 — Cut or wait?
Thanks for any feedback and notes on things to watch for for these stocks! Happy Trading!
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