Yesterday, March 11th, I repurchased two positions to lock in gains. Despite each of the contracts expiration a week from today, the market volatility has been elevated for the past two weeks and I thought it best to close when I could. Today our portfolio, and our former positions these contracts, are again heading south.
Our Bumble (BMBL) cash-covered put (short put position; strike: $55; expiration: 19MAR2021) closed on the open when our standing limit order was filled. We cleared $68.61 on the position we held for just nine days with $5,500 held for collateral. Our net was a 1.2% return or 50.6% on an annual basis. I like BMBL and hope it is as successful as its rival Match.com. Look for more exposure in our portfolio when the opportunity presents itself.
I chose to close our Palantir position, yesterday, to realize the $184.87 gain on the $6,900 collateral we had exposed to the trade. Over the 29 days we held the position that was a 2.7% return or 33.7% on an annual basis. Palantir provides exposure to a great market in data analysis and I hope to add exposure when the market becomes attractive.