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May 7th Trading Log (Wed Trading Plan)

 
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PostPosted: Tue May 07, 2019 12:53 pm    Post subject: May 7th Trading Log (Wed Trading Plan) Reply with quote

May 7th Trading Log (Wed Trading Plan):

SPY traded between roughly 285 3/4 and 290 3/4, closing slightly above 288 1/4. The prior close was 292 3/4. I expect SPY to fall at least to the low 280s. However, I also expect more volatility. So, if SPY rises towards 290, I’ll buy Jun or Jul puts. I may sell some of the shares, although I expect them to be much higher later this year. GOOG showed much more relative strength than BA. However, I’ll watch both for opportunities to buy calls.

My portfolio is at $715,000 including $272,000 in cash.

Calls Contracts-Shares Long

SLB 7,000 shares
OIH 10,000 shares

Puts Contracts-Shares Short

None

Portfolio at $100,000 on Mar 1st, 2018. Portfolio stop loss raised to $500,000. 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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