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Next Week Trading (Jan 7th)

 
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PostPosted: Fri Jan 07, 2022 6:43 pm    Post subject: Next Week Trading (Jan 7th) Reply with quote

Next Week Trading (Jan 7th):

Both SPX and VXX fell today, which suggests SPX may not fall much further short-term. SPX closed at 4,677 and VXX closed at 18.82, which is not far from its all time low at 17.60, although SPX is down 140 points from its all time high at 4,818. VXX declines over time, e.g. from contango, but currently it's too low relative to SPX. NYMO at 11 and Fear & Greed index at 52 both neutral. Perhaps, this week's trading range between 4,660 and 4,720 will continue next week. I plan to take advantage of volatility to trade IWM VXX and BABA calls. There may be an opportunity to trade options that expire in a day or two after a stock reports earnings, because the implied volatility of options fall after earnings reported, while stocks are typically more volatile

My portfolio is over $535,000 including $343,000 in cash.

Calls Contracts-Shares Long

IWM Jan 215 2022 40
VXX Jan 17 2022 100
VXX Mar 18 2022 100
VXX Mar 20 2022 200
VXX Mar 22 2022 100
BABA Mar 120 2022 10
BABA Apr 125 2022 10

Puts Contracts-Shares Short

None

Portfolio at $100,000 on March 1st, 2018. Portfolio stop loss suspended. Scaled up and adjusted portfolio. Both prior portfolios, since early 2000s, rose initially and substantially, and then failed quickly in “irrational” market “melt-ups," where stocks can go straight up month after month.
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