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Joined: 28 Dec 2005 Posts: 11980
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Posted: Fri Oct 05, 2018 12:18 pm Post subject: Next Week Trading (Oct 5th) |
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Next Week Trading (Oct 5th)
I may sell all my options on Thursdays, focus on AMZN daily options on Fridays, and buy the options back Friday afternoon. When I buy AMZN options and they soon rise, I use a trailing stop loss. For example, if I buy options at 4, and they start to rise to 6, 7, 8, etc., they may fall back again. So, I sell, if they fall significantly. If they rise from 4 to 8, I’ll sell, if they fall to 6, for example, but if they keep rising without a pullback to 6, I raise the stop loss to 7, for example, etc.. Of course, if I have too many options, I often bail-out on an opportunity, although they may rise much higher. If the gain is substantial enough, I’ll sell, although they may go higher, or execute the trailing stop loss. Today was a great opportunity, because the daily NYMO closed below negative 50 yesterday and may have been close to negative 100 at the low today.
My portfolio is over $270,000 including $218,600 in cash.
Calls Contracts-Shares Long
DIA Oct 264 2018 100
GE Jan 12 2019 100
PGNX Nov 6 2018 100
Puts Contracts-Shares Short
None
Portfolio at $100,000 on Mar 1st, 2018. Portfolio stop loss raised to $100,000. 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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