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Next Week Trading (Mar 10th)

 
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PostPosted: Fri Mar 10, 2023 6:45 pm    Post subject: Next Week Trading (Mar 10th) Reply with quote

Next Week Trading (Mar 10th):

On Friday, SPX traded between 3,846 and 3,935, falling 57 points, and closing the week at 3,861. The daily NYMO closed at negative 99. SPX will likely be in a trading range or uptrend, given its very oversold condition. So, I plan to buy SPY Mar and Apr calls on dips and sell on bounces. TSLA calls look like a buy on pullbacks too. I'll basically trade my four positions below and buy larger positions in calls.

My portfolio is about $2,590,000 including $1,923,600 in cash.

Calls Contracts-Shares Long

SPY Apr 390 2023 60
BABA 5,000 shares
ARKK 2,000 shares
DNA 100,000 shares

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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