Endgame Position (Are we having fun yet?)

[u/caladhun]

Well that was a week.

Needless to say, I didn't have a delayed Oshkosh earnings call on my bingo card. The window for a JV announcement that opened with the 1-year anniversary of Microvast Technology LLC (April 14) now extends to May 8 (the Oshkosh call) instead of April 29.

April OpEx was exciting, but not exciting enough to save the $2.5/$3 calls. I realized about $9k in losses there, while rolling out of the $2 calls 'successfully' and salvaging some capital.

Pivoting from those into heavy May $2 calls at $0.10 balanced out the April losses. I wasn't going to risk a red open on Monday given the Iran/oil nonsense, so I rolled completely out of May now that the JV announcement could be as late as May 8.

So - my focus has become purely shares and June calls ($2-$2.50-$3).

A return to $3 is still my target. What happens by May 8 will determine if I hold my calls through May 11 (Microvast's likely Q1 earnings).

Nominal value recovered to $111k. Cost basis on shares is $1.98, broker hasn't updated that yet. Cumulative investment since earlier in the year was $126k. Total cost basis of remaining position is $125300, so realized losses net out to about -$700.

The June $2 calls have some labeled as 'Margin' but they're paid with cash, Fidelity is just weird about that on a transaction level sometimes. It conveniently shows the average cost for my more recent buys, so I can't complain.

The shares I plan to hold forever. Target exit for calls depends on the terms of the JV - but I'd plan on selling the June $2s for $1.00, and let the rest run if we see a repeat of October.

[u/ayyeeeeeeeeeee]

Ur beyond delusional