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May 17th Trading Log (Recap & Thu Trading Plan)

 
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PostPosted: Wed May 17, 2023 5:12 am    Post subject: May 17th Trading Log (Recap & Thu Trading Plan) Reply with quote

May 17th Trading Log (Updates):

Current Trades: Bought 100 more QQQ Aug puts at 10.7, sold the 200 QQQ Sep puts at 13.11, bought 10 NVDA Jul 300 puts at 22.2, bought 10 more NVDA puts at 20.8, bought 200 more QQQ Aug puts at 9.75, bought 100 MSFT Aug 310 puts at 12.3, bought 100 QQQ Aug 330 puts at 11, and bought 10 more NVDA puts at 19.6 --------- QQQ closed at 331. Given it's up 27% this year, while a large cap like MSFT is up 44%, since first week in January, greater volatility or a significant pullback will likely take place soon. So, I expect better opportunities to trade, e.g. QQQ 325 to 335. I plan to continue trading QQQ MSFT and NVDA puts. If QQQ rises towards 335 tomorrow, I'll buy weekly puts that expire within a week or two, since they'll be cheaper with more leverage. Same with MSFT and NVDA. The portfolio stop loss (below) is set in case I'm wrong.

My portfolio is over $2,800,000 including $1,625,800 in cash.

Calls Contracts-Shares Long

TLT 4,000 shares

Puts Contracts-Shares Short

QQQ Aug 325 2023 500
QQQ Aug 330 2023 100
MSFT Aug 310 2023 100
NVDA Jul 300 2023 30

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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