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Next Week Trading (May 19th)

 
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PostPosted: Fri May 19, 2023 1:51 pm    Post subject: Next Week Trading (May 19th) Reply with quote

Next Week Trading (May 19th):

One more big up day and my portfolio stop loss would've been triggered. Instead, QQQ traded in about a three point range and closed 3/4 points lower at 336 1/2 to sell puts for gains or partially recover losses, sell closer to expiration puts, and build up cash. QQQ will likely trade in a range next week, because it doesn't seem likely shorts will be squeezed much more, given high valuations, the big runup this year, and at major resistance. Yet, it may continue to rise. So, I plan to trade Jul and Aug puts instead of May weekly or Jun puts. I'll continue to focus on QQQ MSFT AAPL and NVDA puts, along with TLT and BABA shares. I expect enough volatility to make gains.

My portfolio is about $2,670,000 including $1,379,500 in cash.

Calls Contracts-Shares Long

TLT 5,000 shares
BABA 3,000 shares

Puts Contracts-Shares Short

QQQ Aug 325 2023 300
QQQ Aug 330 2023 200
MSFT Jul 320 2023 100

Portfolio at $100,000 on March 1st, 2018. Portfolio stop loss at $2,500,000. 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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