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Joined: 28 Dec 2005 Posts: 11981
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Posted: Thu May 04, 2023 5:08 am Post subject: May 4th Trading Log (Recap & Fri Trading Plan) |
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May 4th Trading Log (Updates):
Current Trades: Sold 1,000 BABA shares at 83.05, sold the 50,000 DNA shares at 1.20, sold 10 MSFT puts at 16.2, sold 10 MSFT puts at 16.6, bought 10 MSFT Jul 310 puts at 14.05, and sold 10 MSFT Sep puts at 16.15 --------- SPX traded between 4,048 and 4,083, closing at 4,061. The daily NYMO is negative 56. It's likely SPX will hold 4,000 and make a fourth attempt at 4,200 this year. Normally, when the daily NYMO is below negative 50, that's a buying opportunity for SPY calls and you don't want to hold puts. However, MSFT is up 40%, since first week in January and AAPL up 37% this year (including up four points on earnings to 170). So, I plan to buy SPY calls on SPY pullbacks tomorrow, and may buy more MSFT puts, and AAPL puts. I may also buy BABA calls. Sentiment is very bearish, which is bullish.
My portfolio is over $2,800,000 including $2,292,500 in cash.
Calls Contracts-Shares Long
BABA 6,000 shares
Puts Contracts-Shares Short
MSFT Jul 310 2023 10
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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