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   Strategies & Market TrendsTrader J's Inner Circle


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To: Trader J who wrote (54521)3/24/2022 5:52:25 PM
From: ggamer
   of 55351
 
TLRY - my purchase price was a bit higher than you at $3.41 so I averaged in (at $2.86, $2.41,$1.74, and even $1.44 on 3/15). So I am glad I did that.

Again kindly let me know when you decide to roll them over or you decide to sell them.

TLRY now over $8 in after hours. You think Reddit gang is here?

This time around short position is not that high, not sure if the data below is accurate.

Line chart with 389 data points. The chart has 1 X axis displaying Time. Range: 2022-03-23 09:26:07 to 2022-03-23 16:01:52.
...
Tilray Brands Inc. Cl 2.
Volume21.31M
Short Interest63.18M (02/28/22)
Short Interest Change63.18M
Percent of Float13.73%
8 more rows

TLRY | Tilray Brands Inc. Cl 2 Stock Overview (US - Barron's

Cheers!

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To: ggamer who wrote (54522)3/24/2022 6:21:49 PM
From: Trader J
1 Recommendation   of 55351
 
TLRY: I post almost every trade on my thread either when I do it or when I'm thinking of making a trade so you'll certainly know.

Yes, TLRY is still running and I hope it continues. My taking the calls wasn't because I believe TLRY is a monster company but that it is a company in the news with upside catalysts but also with a short position and the following of the WSB group. It won't take much to create a Phoenix play (as I call them) when the shares rise from the ashes and scream higher. I'm not looking for a similar trade when my calls ran from an underlying price of $5 to $50+, but I'm hoping for $20+ ... but keeping my options open, no pun intended.

The problem in this market is that while there can be uplift, without follow-on news or momentum, it's likely to settle back down so you can always use any spike to slip out of some shares to recapture cost. Just kee pthat in mind.

The WSB community is struggling to find a common target right now so the right environment will provide potential for the stock and TLRY is still followed in that group. Here's to hoping ....

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From: Trader J3/26/2022 11:00:26 AM
   of 55351
 
TLRY: Really nice movement this week but I can't say it's enough to support the price here without follow-on news/catalysts in the short term. My 1/23 $5 Calls are up nicely and the WSB community is definitely percolating again. It could be enough if we get follow through legislation on the cannabis stocks, and TLRY is certainly one of the top names.

TLRY does seem to be making inroads to greater distribution as arguably the top name in the space and the short position still seems elevated and could be higher than listed. Part of me would love to roll out of the '23 calls and roll forward to '24 but I'm going to stick for now.

Looking at the positive and negative catalysts, I don't see enough negative downside to pressure it much below the recent $5 level and the positive catalysts could provide a nice premium increase. That said, I don't think we can match the run we saw when it spiked from $5-$7 to $70 ... that was a MIT (Moment In Time) trade which worked out very well based on my due diligence and an amount of luck while allowed the tumblers to fall just right, providing for my largest single successful trade ever. Getting the Calls for $0 premium back then was something you don't find often and my most recent trade, while attractive, didn't get to $0 premium.

Meme stock trades aren't what they were and while TLRY is still followed and could be a phoenix trade again, my belief is that any combination of positive news, short covering, increased visibility in the WSB space, etc. probably limits the upside to the high $20s or $30s. I would be unwinding the calls into the move higher and probably my long shares as well while waiting for it to settle again.

Still a lot of positive momentum in the space and it's likely a when and not if scenario related to the legislation and decriminalization of the space entirely, a bit like sports betting. But as related to TLRY, that is what I like about their production and distribution specifics ... they stand to gain handsomely if/when it all comes together. There's just no way to know when that happens and keeping your calls well priced and a bit shorter (time) allows for the most position agility.

Cheers all.

TJ

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To: Trader J who wrote (54524)3/28/2022 12:54:59 PM
From: Madharry
   of 55351
 
I purchased initial stake in a homebuilder i have been following . i also sold a call against the moderna shares that were put to me now lowering my cost to $151, my upside is limited to $185 but thats ok.

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To: Trader J who wrote (54524)3/28/2022 5:06:27 PM
From: ggamer
   of 55351
 
TLRY - Looks like traders are looking for $10 price by option expiration this Friday. Any thoughts on selling our options around that price this week and waiting for a better entry next week?

Thank You!

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To: ggamer who wrote (54526)3/29/2022 12:03:48 AM
From: ggamer
   of 55351
 
TLRY - a post from Twitter today

Meme Stock returns over the last 10 trading days...

Gamestop $GME: +143%

AMC $AMC: +116%

Koss $KOSS: +67%

Kodak $KODK: +67%

Tilray $TLRY: +64%

Virgin Galactic $SPCE: +44%

Tesla $TSLA: +43%

Bed Bath $BBBY: +37%

Clover Health $CLOV: +36%

Beyond Meat $BYND: +36%

Blackberry $BB: +29%

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From: Trader J3/29/2022 3:40:23 PM
   of 55351
 
TLRY: Interestingly enough, my long TLRY shares have all been borrowed by Schwab to lend to short sellers so short interest is on the rise.

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To: Trader J who wrote (54528)3/29/2022 3:48:00 PM
From: ggamer
   of 55351
 
TLRY - so you think we are setting up for the same type of scenario as last year? I believe last the broker borrowed your shares as well. Good data point, I sold a few of the $5 2023 calls at $4.25 couple of days ago and holding on to the rest.

Cheers!

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To: Trader J who wrote (54528)3/29/2022 3:48:19 PM
From: Trader J
   of 55351
 
LULU: Earnings after close today. I'm still holding my original position which is up modestly now (1.29%) which is something since my entry was before the bigger meltdown and I considered doubling up in the $280s.

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From: ggamer3/29/2022 3:50:00 PM
   of 55351
 
AMC - I bought a couple of Friday Calls (lotteries) but not doing well. Down 50% in a matter of 30 minutes. :)

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