In my last Sunday’s weekly update post, I had stated my intention to sell most of my ORCL call contracts by the following Tuesday:
“On Tuesday, after the markets close, Oracle will announce its fourth quarter and end of the fiscal year earnings. Since I don’t like to play the earnings announcement game, I will sell 15 of the 20 ORCL call contracts between tomorrow and end of trading on Tuesday.”
I decided to hold off on selling my 15 call contracts until the day of ORCL’s earnings announcement. Come Tuesday, when it came time for me to execute on my standard modus operandi, to my horror, I could not access the Charles Schwab’s website, where I hold my trading account!
You gotta be kidding me!!??!!
All day Tuesday, Schwab.com website remained down and as it got closer to end of the trading day, the more frantic I got! I tried to access my account by calling Schwab’s 800 number, but was put on hold…
My wife, who is a lot wiser than I, counseled me to accept the fait accompli and let Providence decide what’s best for me…And since my ORCL calls don’t expire until July 19, 2024, I grumbled but accepted my wife’s advice and my fate…
After the markets closed, ORCL announced great earnings and gangbuster guidance!!! Investors and analysts cheered and ORCL shares were bid up as much as $15 in after hours trading.
I heaved a sigh, or two, of relief. My wife smiled and so did my O2W portfolio! 😀
Best~
karim
P.S. Last week, I also decided to hold off on selling my HIMS call contracts because Investors Business Daily placed it smack dab in the #1 spot on its IBD50 list…and HIMS performed well and doubled the value of my buy-in price!
DISCLAIMER: I am not a licensed broker or securities dealer. All postings made here are strictly for my personal record keeping and in no way, shape or form, am I even remotely suggesting others to follow my Buy and Sell moves. Trading options is not for the faint of heart as one’s portfolio can move up, or down 10%-50% or more during a single trading day, so trade with extreme caution. Past performance is no guarantee of future results.
Full Disclosure: I own options in the stocks of companies mentioned in my posts.