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Mar 16th Trading Log (Recap & Fri Trading Plan)

 
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PostPosted: Thu Mar 16, 2023 6:54 am    Post subject: Mar 16th Trading Log (Recap & Fri Trading Plan) Reply with quote

Mar 16th Trading Log (Updates):

Morning Trade: Bought 10 more SPY calls at 15.5. Current Trades: Sold 20 SPY calls at 17.5, sold 10 SPY calls at 18, sold 10 SPY calls at 18.4, sold 10 SPY calls at 18.6, sold 20 BABA calls at 8, and sold the 20,000 DNA shares at 1.35 -------- SPX traded between 3,864 and 3,965, closing 68 points higher at 3,960. SPX will likely be in a volatile uptrend over the next month or two and rise above 4,100. So, I may use my cash position to buy SPY and BABA stock on pullbacks. SPY may rise 15 points and BABA may rise at least 10 points within a month or two. I'll post the stop loss on SPY, if I buy shares. If BABA falls, I'll buy more shares with no stop loss. I may hedge with MSFT Sep puts.

My portfolio is about $2,675,000 including $2,227,400 in cash.

Calls Contracts-Shares Long

BABA Jul 85 2023 40
BABA 5,000 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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