Back in December 2024, I opened a one-year LEAP call on IONQ when the quantum computing sector was buzzing with optimism. The position briefly went into profit — until Jensen Huang of NVDA dismissed quantum as still being in its early stages, with practical applications many years away. That sent the entire sector sliding. Not long after, the April tariff war added more pressure.
IONQ’s share price had essentially peaked right after I opened the LEAP, and the option sat underwater for most of its life. Fast forward: the recent U.S. Air Force contract news and the Fed’s rate cut triggered a sharp rally, pushing the LEAP into profit.
With December nearing and extrinsic value set to erode quickly, I decided to close this call and lock in gains. From there, I’ll look to re-enter on a pullback — still bullish long term, as I believe quantum computing has a lot of room to run.
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- wubbie·09-23Great decision to lock in gainsLikeReport
- JackQuant·09-23Marvelous!LikeReport