I'm back and making trades again. My account balance currently sits at $14,918. I'm already up about $300 on the day. I'm not going to list all the specifics of my trades but I will make suggestions and will advise what I'm doing in general for each stock. Today marks a very critical day in American history. Investors have panicked and the stock market decreased last week and is down today. We are on the verge of a government shutdown if an agreement can not be made by midnight tonight. I don't have all the details but my feeling is people are overreacting to this news. If an agreement is not come to, which is the expectation, I don't think the market crashes. It may head lower initially but I envision a rebound the same day or later in the week. This is a great situation for my trades as I am selling put credit spreads again. I'm focusing on stocks that are very strong (AAPL, TSLA, GOOG, PCLN, NFLX, AMZN, MA, BIDU and HLF). The increased volatility in the market has pushed premiums of these options up and I'm trying to limit my risk by selling put credit spreads well out of the money. These are all weekly options expiring at the end of the week. As the stocks move higher I'll start selling the call credit spreads as I also don't think the market increases substantially. There's always a risk of the market moving largely one way or the other but I'll bank on the expectation that it won't.
Some of the trades I have done so far:
AAPL $478.90 465/460 put credit spread
GOOG $879 855/850 put credit spread
HLF $70 67/65 put credit spread
MA $676 655/650 put credit spread
NFLX $309.50 295/290 put credit spread
PCLN $1010 980/975 put credit spread
TSLA $194 180/175 put credit spread
I entered all of these earlier today and my account is now up just over $300 on the day. Tomorrow will be key in my account's success this week.
Jonny
Monday, September 30, 2013
Wednesday, September 25, 2013
I'm back, My options account September 25, 2013
After a long vacation I am back and will be posting my trades. Currently I have a few small trades on:
AAPL $482.25 475/470 Put Credit Spread ($82 credit); 485/490 Call Credit Spread ($85 credit). Apple had gone up a lot early in the week so I am happy to see the stock move lower today. I looking pretty good consider what I know. Amazon has annouced a Kindle product that will compete with Apple's ipads which sent the stock lower. I don't think the stock will rebound much the rest of the week and I really think Apple will stay between my 475 and 485 strikes. Two days to go.
HLF $70.78 10 69/68 put credit spreads ($33 credit); 10 72/73 call credit spreads ($20 credit). HLF was hanging around 68/69 earlier this week but today the stock rose $2 so I'm looking really good right now. However, if the stock continues its uptrend I could be in trouble. There are so many short shares sold right now that large increases can always happen. I'll take the risk as I think we see the stock level out for the rest of the week.
Starting next week I'll have a lot more trades.
Jonny
AAPL $482.25 475/470 Put Credit Spread ($82 credit); 485/490 Call Credit Spread ($85 credit). Apple had gone up a lot early in the week so I am happy to see the stock move lower today. I looking pretty good consider what I know. Amazon has annouced a Kindle product that will compete with Apple's ipads which sent the stock lower. I don't think the stock will rebound much the rest of the week and I really think Apple will stay between my 475 and 485 strikes. Two days to go.
HLF $70.78 10 69/68 put credit spreads ($33 credit); 10 72/73 call credit spreads ($20 credit). HLF was hanging around 68/69 earlier this week but today the stock rose $2 so I'm looking really good right now. However, if the stock continues its uptrend I could be in trouble. There are so many short shares sold right now that large increases can always happen. I'll take the risk as I think we see the stock level out for the rest of the week.
Starting next week I'll have a lot more trades.
Jonny
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