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Next Week Trading (May 3rd)

 
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PostPosted: Fri May 03, 2019 3:58 pm    Post subject: Next Week Trading (May 3rd) Reply with quote

Next Week Trading (May 3rd):

SPY closed less than one point from the all-time high. Technical indicators are roughly neutral. The faster the market moves, the better for options trading. It’s unknown where the market will go from here. Nonetheless, I expect enough volatility to make some gains, although I’ll avoid shorter-term puts. SLB and OIH are very undervalued. So, I’ll continue to add more, if they pullback further, e.g. SLB 40 1/2 and OIH 15 1/2. I plan to scale-back on puts, although, if the market rises even higher, I’ll add more.

My portfolio is at $630,000 including $293,500 in cash.

Calls Contracts-Shares Long

SLB 3,000 shares
OIH 6,000 shares

Puts Contracts-Shares Short

SPY Jun 295 2019 50
SPY Jul 295 2019 100
QQQ Jun 190 2019 20
FB Jun 200 2019 20

Portfolio at $100,000 on Mar 1st, 2018. Portfolio stop loss raised to $450,000. Stop loss will be strictly enforced and extreme caution will be taken if triggered to avoid large losses and preserve capital in "irrational" market periods.
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