2021 has been an eventful year for markets so far.
On Saturday morning, 6 February, I woke up to find Ocugen Inc (OCGN) trading at around $7 after hours. I had bought it at $1.60 a little over a week earlier. That is a 4x move.
It was Saturday morning in Singapore, still Friday evening in the US. Regular trading had ended, but after-hours trading was still open. I had never tried selling outside regular trading hours through Interactive Brokers before, and was not sure how it would work.
I decided to test it. Using the outside-trading-hours option in Interactive Brokers, I placed a sell order at $7 for a quarter of my OCGN holding.
It filled.
By the time I wrote this later that day, the stock had moved up further, to $8.60. I reminded myself not to be greedy. I had already recovered my initial investment and booked a meaningful gain on that quarter, so the remaining three-quarters were effectively house money.
It is a frame I have been applying to several positions now. Once the initial capital is recovered with a profit, the remaining holding becomes house money. I can hold it for years or decades without the psychological pressure of protecting the original investment.
OCGN joins Atossa Genetics (ATOS) in that house money portfolio. Both are long holds. Both are stakes I am comfortable losing entirely.
The hunt for the next candidate continues.
This is not financial advice. Just a record of one trade and the thinking behind it.