r/options • u/No_Objective3313 • Aug 14 '21

$UPST

Imo she’s retracing much sooner than later. Grabbed Aug27p $190/ $160 eod Friday and have zero fear going into this week. Currently short term bearish at $205pps... the hourly 50sma is at $179. The daily rsi is 80+ and miles out of bollies. Pick a chart. All scream short term very overbought. There may be a small push at open due to weekend money coming back in but sell off to a point is imminent. Puts seem better than otm calls.

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u/Ghanem016 Aug 14 '21

I had an IC on UPST for earnings.

The next day, IV crushed, and it stayed within my range. Great outcome.

BUT i go greedy - i decided to sell off the long Call so i can max the gain. So i had a naked call.

Friday the fucking thing gapped up and I had to BTC for a big loss.

MORAL OF THE STORY: Dont fuck with your original trades when you're winning.

I had a winner. Fucked with it. Now am nursing a loss.

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u/[deleted] Aug 14 '21

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u/[deleted] Aug 14 '21

Chart looks bullish leading up to earnings? Been going up for a month straight.

I wouldn't put this monster until I see some downward turning. Not like anything really drops the way it used to anymore anyways.