Selling This Small-Cap Drone Play at Our Target Price
Some key escalation in the U.S.-Iran conflict has moved equities index futures forward.
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Equities Index Futures Move Forward
Over the weekend, U.S. and Iranian forces exchanged military strikes even as the two sides continued to negotiate a “would-be” deal that would bring a close to open hostilities between the two nations. U.S. President Donald Trump hinted several times late last week that the two sides were closing in on an agreement. It would appear that the two sides still cannot find common ground, however, on winding down Iran’s nuclear weapons program and the scale of reducing U.S. economic sanctions against the terrorist state.
CENTCOM released information late on Sunday and early on Monday that U.S. warplanes had attacked Iranian military radar sites and drone control facilities on both Saturday and Sunday. The strikes occurred on Qeshm Island and Gorik in the Iranian province of Hormozgan. These attacks had come after Iranian forces had shot down a U.S. MQ-1 drone and had launched a much broader attack against Kuwait. U.S. naval forces also had to shoot down two Iranian drones that threatened to strike civilian tankers in the Strait of Hormuz.
Both Brent and WTI Crude futures are trading higher on Monday morning in response to this news. The news does not seem to have negatively impacted U.S. equity index futures which continue to move somewhat higher coming off of last week’s record levels. Markets, at least for now, appear to believe that the U.S. and Iran are still discussing this potential “60-day” peace deal. The idea would be to lift both Iran’s threat against the Strait of Hormuz and the U.S. naval blockade of Iranian ports simultaneously in order to get the gears of global commerce moving through that area at a close to normal pace.
Recent Portfolio News
Amazon (AMZN)
On Monday morning, analyst Justin Post of Bank of America reiterated a buy rating on AMZN along with his $310 target price. Post is rated at five stars out of five at TipRanks. Over the past two years, he has a 63% success rate, with an average return of 30.8%.
On Sunday, analyst Mark Mahaney of Evercore ISI reiterated a buy rating on AMZN along with his $315 target price. Mahaney is rated at five stars out of five at TipRanks. Over the past two years, he has a 54% success rate, with an average return of 24.7%.
Upcoming Portfolio Earnings
Planet Labs PL: after the closing bell on Thursday, June 4
Friday’s Intentions vs Friday’s Actual Trades
Intention: Sell 2 shares of (PLTR) at or close to the last sale of $154.91
Actual trade: Sold 2 shares of PLTR at $155.86.
Intention: Sell 25 shares of (SOFI) at or close to the last sale of $17.86
Actual trade: Sold 25 shares of SOFI at $18.39
Intention: Purchase 3 shares of PL at or close to $45.20.
Actual trade: Nothing done
Intention: Purchase 25 shares of (ONDS) at or close to the last sale of $11.88
Actual trade: Nothing done
Intention: Purchase 25 shares of (SIDU) at or close to the last sale of $4.47
Actual trade: Bought 25 shares of SIDU at $4.92
Monday’s Intentions
Sell 25 shares of ONDS at $14 (target price) or better
Current Positions
Long 2 shares of AMZN at $263.71. Target price: $324. Last sale: $268.65.
Long 60 shares of (EVLV) at $5.9895. Target price: $8.50. Last sale: $6.45.
Long 200 shares of (OCUL) at $8.271. Target price: $11. Last sale: $8.99.
Short one OCUL $11 September 18 call at $1.65. Last sale: $1.35.
Short one OCUL $9 July 17 call at $0.90. Last sale: $1.38.
Long 125 shares of ONDS at $9.4749. Target price: $14. Last sale: $13.07.
Long 7 shares of PL at $37.18. Target price: $55. Last sale: $49.60.
Long 10 shares of (PLTR) at $137.906. Target price: $194. Last sale: $162.02.
Long 5 shares of (RKLB) at $59.206. Target price: $185. Last sale: $137.21.
Long 150 shares of SIDU at $3.0909. Target price: $6. Last sale: $4.79.
Long 200 shares of (SNAP) at $5.7642. Target price: $7.50. Last sale: $5.77.
Short two SNAP October 16 $6 calls at $0.87. Last sale: $0.91.
Long 150 shares of (SOFI) at $15.9035. Target price: $24. Last sale: $18.65.
Short one SOFI August 21 $20 call at $1.02. Last sale: $1.66.
Long 35 shares of (VELO) at $12.3231. Target price: $30. Last sale: $22.74.
Cash: $1,400.46.
Portfolio Value: $13,269.06, +32.7% from inception on March 24.
At the time of publication, Guilfoyle was long AMZN, EVLV, OCUL, ONDS, PL, PLTR, RKLB, SIDU, SNAP, SOFI and VELO.
