Gotta take my medicine on this one. Bad earnings play. Looks like $3600 loss. Account balance is $106,200 with the ETSY calls valued @ $4.10
No trades in awhile... ETSY sold off a bit yesterday, those $40 calls are $2.90 now. Remember VMC? They reported today. Missed. Go figure. What they blame it on? What did I say would happen. Diesel fuel killed em. They don't hedge, operations are all local. And they burn oceans of diesel. It was a no brainer with the cost per gallon up 30% yoy. $112 is where it closed. I sold out for this contest when it was llike $124. Good thing for Desterio I sold out... that would be $92,000. Minus $7.70/contract. So like $61K on 40 contracts. "Same-store unit cost of sales (freight-adjusted) increased 1 percent versus the prior year quarter as fixed cost leverage and other operating efficiencies mostly offset the 30 percent increase in the unit cost for diesel fuel".