The market is now closed and man it was a roller-coaster of a day! The overall market did go down quite a bit as I was predicting but Google was up 9 after the Fed's decision. At that time I bought two put debit spreads at 905/900 and moved up some of my put credit spreads to the 895/890 (5 contracts). Google proceeded to drop like a rock after that and ended about even on the day. Most of my other stocks went down with the biggest loser, Apple, being down 8.50. I'm still in profit position on all my options except Netflix which I still have the one contract at 225/230 call credit spread. If today was expiration Friday I would be up a lot. Bascially if all stocks stayed where they are now I would be up an additional $6K. But I need to wait two more days and I can guaranttee I won't be up $6K. I'll take $1K at this point. Most likely I will look to get out of some of my Google positions tomorrow. Here's a little recap of how my account did at various times this afternoon:
1:52pm -1,561
1:59pm -173
2:18pm +166
2:29pm -540
2:31pm -749
2:41pm -70
5 sec later -478
2:45pm -195
2:46pm +53
2:46pm +270
5 sec later +362
3:00pm +4.36
Yeah, that's right. After all the ups and downs I ended up make a whopping $4.36. Well, after commissions I was down about $40. Tomorrow is going to be just as crazy I think but I really need a nice calm day to make some serious profits. I'm still up about $400 on the week.
Jonny
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Hey being up just 4.36 after the way the markets took a nose dive at the end is pretty good. My portfolio of dividend stocks got taken out to the woodshed. I went against my own rules yesterday and put on a 810/800 Put credit spread on PCLN based on price action and another indicator I use. I wanted to do SPX and RUT spreads today after FOMC announcement but was in a meeting. Probably will initiate tomorrow--probably 2 standard deviations out. Premium will be less and ROI will only be about 2 - 3 % but hey its still money in the bank
ReplyDeletegood trading
V
Vijay,
DeleteThanks for your comments. Feel free to post any trades you are considering or trades you are doing. I am always interested in seeing what others are doing. I'm going to need to adapt a lower risk strategy after what happened a week ago. Jonny