I took a little hit (worthless contracts) from June 2015 option expiration. Profit chart took a dip...mainly QQQ PUTS. Lesson learned adjusting strategy in terms of stop loss and holding period.
Just closed off NTAP PUT trade 68% profit. The slow grind up continues. ;)
Weekly chart position trading with "options" is slow as molasses and feels like watching grass grow. Having said that , it looks like markets are topping out here again, and may head for a down move, some of my PUT positions after 3 months are starting to work, meaning the underlying stock is falling. My guess, we MIGHT be heading for "sell in May go away" and a June swoon. You never know though, the markets can go up too.. I'm just guessing, anything can happen.
Just closed 1 PUT option on QCOM, 82% profit on trade. The slow grind up begins, trying to recoup from the big loss of expired options.
Just closed off all option trades that expired Jan.16.2015 and it ain't pretty, sustained some heavy losses which took me down $720 gain for the year, from previous of around $3500. Not much money, but learning process. A lot of lessons were learned this goes without saying, like "timing is crucial with options", use stop loss on every trade (at least could have recoup some losses). If looking at the losses, those trades were opened last year...the beginning of actual real trading, money management was not forefront of my trading mind...you bet now it is. And since then my timing has improved as well. Had to be candid and transparent as I believe 2013's early mistakes will lead to me being a better trader in the long run.
Read the article to the last post I made, Tim Sykes calls out the "supposed" NY 17 year old that made $72 million
Another week or two and then time to ring the cash register on my PUTS.
Low volatility VIX at 13.5, for me with short position...nothing to do now but wait.
On daily charts, look like certain stocks have peaked, this could be a head fake. Entering some shorts here.
Join now or log in to leave a comment