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Weekly Position Updates / Extreme Trade Updates (8/16/18)

Extreme Trade Updates (8/16/18)

August 16, 2018

The following trades remain on hold:

Applied Materials (AMAT) stock — $49.90

AMAT currently trades at $47.62.  Continue to hold.

Canopy Growth (CGC) — formerly TWMJF — $29.75
We would reiterate a buy at $29.66, as well

The stock is now at $31.95 after Constellation Brands increased its stake in the marijuana company by $4 billion.

iQIYI Inc. (IQ) stock – $30.85 entry
IQ September 21, 2018 35 calls — $3.50 entry 

IQ now sits at $26.69 a share.  Hold both trades.

Okta Inc. (OKTA) stock — $51.25 entry

OKTA is now up to $55.11 and remains on hold at this time.  We already exited the calls on this trade for a win.

Adobe Systems (ADBE) — $248.96
ADBE August 17, 2018 255 calls — $5.03

After an explosive move higher, the stock has pulled back to $249.95.  Hold the stock, but sell to close the August 2018 255 calls at a loss.  Or simply allow it to expire on Friday.  This trade should have worked out much better than it did.

Raytheon (RTN) — $187.12
RTN August 17, 2018 200 calls — $3.85

RTN is back up to $198.40.  While the stock is recovering from a pullback, the calls are not.  Sell to close the calls.  Or simply allow the trade to expire on Friday.

Twitter (TWTR) — $32.68
TWTR September 21, 2018 33 calls — $1.85

TWTR is just beginning to rebound and pivot higher.  It now trades at $33.08 a share.

Facebook (FB) stock– $175.84
FB September 21, 2018 180 calls — $4.80

The stock is now up to $177.05.  Both trades remain on hold at this time.