Ticker journal · as of
TWLO
Twilio · positions and options overlay
The current register and 6 dated prints that mention TWLO. Positions update with each weekly book. The original journal leaves stay dated.
Not investment advice.
Current position
- Shares held
- 500
- Short calls / puts
- 3 / 1 contracts
- Net marked value
- HKD 953,683.77
- Net value / book NAV
- 13.79%
Stock HKD 1,020,981.00 + signed options HKD -67,297.23. USD values use the book's USD/HKD rate of 7.8. Net marked value is not delta-adjusted exposure or the cash required for put assignment.
Snapshot from 23 Oct 2026; not live quotes.
My thesis ·
The AI agent still needs a phone
Current view, written after the position snapshot above.
Everyone is excited about what AI can say. I am interested in how it reaches the customer.
Support calls, sales follow-ups, appointment reminders, SMS. That is why I own Twilio. More AI applications should mean more paid traffic through its services. Let the apps compete; I want a share of the communications bill.
The Q1 2026 earnings call gave this idea some substance: AI customers expanding from voice into messaging, pilots moving into production. Management also said AI was still a small contributor overall. There is traction—and plenty left to prove.
My rules still apply: growing quarterly revenue, strong operating margins, controlled dilution. AI excitement has to show up in the accounts.
TWLO faded from 301.80 to 275.77 in the 9 October book. I still held 300 shares. Sell premium around the position and keep watching the business. Confidence needs evidence every quarter.
My investment filter · growth, margins, dilution and the chart
Position lines
Full register · TWLO| Instrument | Pos | Last | Chg | Cost | Mkt val | Avg |
|---|---|---|---|---|---|---|
| TwilioTWLOUSD | 500 | C261.79 | — | USD 124,786.00 | USD 130,895.00 | 249.57 |
| TWLO Nov06'26 260 CTWLOUSD | -1 | C22.69 | — | USD -2,158.92 | USD -2,235.07 | 21.59 |
| TWLO Nov06'26 290 PTWLOUSD | -1 | C39.50 | — | USD -2,549.39 | USD -3,850.50 | 25.49 |
| TWLO Oct30'26 280 CTWLOUSD | -2 | C12.01 | — | USD -4,779.49 | USD -2,542.28 | 23.90 |
Option quantities are contracts. Negative quantity is a short. C before a last price means a closing print.
Dated journal mentions
Original excerpts, newest first. Read each leaf for the full context.
· Print 006
TWLO is still the line that has not broken. 500 shares, last 261.79, still above cost. The AI-agent-needs-a-phone argument did not depend on one CPI print, and it does not depend on this one either.
· Print 005
Tagged in this print. Read the dated leaf for context.
· Print 004
TWLO faded. 400 → 300 after the Oct 02 242.5 call took a slice, last 301.80 → 275.77. Confidence did not fade with it. The overlay is now both sides: Oct 09 285 put, Oct 16 295 call and put. Sell the call and the put together, take the premium, keep the line. Not a stock sale. Not a chase back to 300.
· Print 003
TWLO still hold. Largest winner in the book: 400 shares, last 301.80, cost 219.29, unrealized +33,010 USD. Not adding stock. The overlay is the balance: Oct 02 242.5 call is deep ITM (close 50.23) and will likely take 100 shares off; Oct 09 285 put is the pullback sleeve. Net exposure stays large. Options do the rebalance, not a stock sale.
· Print 002
TWLO rose too fast after Q3 beat (18 Sep). Revenue 1.03B vs 1.01B est, Q4 guidance raised to 1.07-1.08B vs 1.05B consensus. Name crossed 296, up 20% in one week. Can't chase at this level. Trimmed 100 shares above 290 to rebalance. Position now 400 shares at cost basis 219.29. Still high conviction but managing concentration. Sold Oct 02 242.5 put (not call) to keep some exposure and collect premium on a pullback. The short straddle rolled from Sep to Oct; the 242.5 call is now deep ITM at 54.10.
· Print 001
The holdings page is the register from this session: HK names DIT / HKBN / Akeso, US names including GOOG, NVDA, SOFI, TQQQ, TWLO, CRWV, and the short listed options on top. Flagged rows keep the IB mark. A
Clast price is a closing print.