Flash Sell: Exit GOGO For A Small Win

February 16, 2021

On January 25th, we entered GOGO Inc. (NASDAQ: GOOG) March 19, 2021, $20 call.

This was during the GameStop short squeeze frenzy.

Other funds who had big positions in other heavily shorted companies were nervous they could be next on getting squeezed.

Shares of GOGO had been heavily shorted and had been squeezing shorts over the last few months. 

We saw a massive out-of-the-money purchase of GOGO calls, which was a similar signal to previous targeted short squeeze plays.

Two days after we entered the position, shares of GOGO soared and the calls spiked up 100% before dropping like a rock back into our entry price the same day.

Unfortunately, our profit window closed very quickly after the news of firms limiting the amount of shares that can be purchased in certain equities.

The frenzy is over and it’s best to manage our risk by exiting this position.

Sell-to-close the GOGO Inc. (NASDAQ: GOGO) March 19, 2021, $20 call (GOGO210319C00020000) at the market.

Right now, these calls are trading at $1.00 per contract, which means closing at that price will close out our trade for a 5% gain.

It’s not a big gainer and getting back to even isn’t a victory.

However, it’s a win and we’re being smart about our risk.

To your wealth, freedom & options!

Joshua M. Belanger





Joshua M. Belanger
Joshua Belanger is founder of CounterVest and the editor of Hot Money Trader. He has been providing ordinary investors blockbuster returns since 2008. In 2018, the average return of Hot Money Trader beat the markets by over 15%