Closed out of my UNG strangle at 50% max profit and QQQ put spread at 50% profit.
Opened an MAR 32/33 38/39 iron condor in TBT for only $.26.
Market continues on its tear. Pretty amazing.
System A and B continue to do well.
Opened a covered call in S. Really like this strategy, but with my small account have to choose low priced stocks, which unfortunately doesn't bring in much credit with my call.
So, just my luck, I took off my NKE position yesterday and it was up more than 4%
Closed out of my NKE trade and took about $13 loss. I realized I had too much on the line with this trade.
I sold a FEB 9 call in NBR. My first naked call spread.
I sold a MAR 78/79 call spread in XLE for $0.36 and a MAR 15/16 call spread in SEAS (Seaworld) for $0.25.
My overall delta is now 0.13.
I decided to not continue trading the short term system which utilized stock based on channels and RSI indicators as work has become quite busy and the system takes up quite a bit of time. I may come back to it in the summer.
Here is trading system A and B, which trades between earnings.
No new positions today. Volatility is still quite low with the market doing so well, so it is very difficult to find underlyings to sell premium in.
I didn't close or open any trades today, but for tomorrow I have 6 new stop limit orders put on for the following stocks:
Systems A & B still doing well in this strong market.
Bought the 42/43 call spread in MU and the 23.5/24.5 call spread in GDX (both bullish positions). Did not close any trades today.
Here is the google drive link for system A and B. As expected there was a bit of a draw down with these accounts.
This account as well took a significant draw down. I closed out of FIT, CBL, and HCLP. I opened up new positions in BDN and FLO. There are no new positions for tomorrow.
This is a very time intensive system that has not paid off. Even with the low commissions that tastyworks imposes, I don't know that I can make this system profitable. I will continue with the system but I don't have high hopes.
Sold my HPQ debit spread for $.80, which was 50% max profit and bought back my CSCO credit spread for $0.18 (50% max profit). I sold a 20/29 strangle in UNG (Mike's Whiteboard on Strangles). I also put on a covered call (Mike's Whiteboard on Covered Calls) in P. I bought 100 shares of P at $4.54 and sold a call at $5. All above contracts expire in February.
Market continues to climb. This is a pretty remarkable move.
Connect the link to see System A and System B progress.
In my simvest account I bought FIT and LB.
I will put in stop limit orders BDN and FLO for Tuesday.
I hope everyone has a great 3 day weekend.
I put on an iron condor trade in TLT, which has a very high IV rank, which makes the options expensive and good for selling. I did a 120/121 put spread with a 127/128 call spread and collected $0.31.
My overall delta is 11.24 which is good, since the market it still going up.
See System A and B above.
Picked up CBL. Going to put 4 orders of which a couple are repeats. Going to try again before earnings on GRPN and FIT. Have two other orders with LB and UPL. See below.
No new positions.
Picked up a new stock, AYI, to put into System A and B above
No new positions in this account and still holding on to HCLP and MDR. I will put on an order for CBL (see below).
My hope with this type of trading is to trade often and have a few big winners are cumulatively more that my many losers, which is why I use a trailing stop and keep my losses small.
I am looking into another pattern to trade in this account which entails inside day moves. Need to do some research on stockfetcher.
Opened up 4 positions today, two debit spreads and two credit spreads. See the third slide above. I am bullish QQQ, HPQ, and XLU; bearish XLF.
Sold GRPN and ETM. I will put in an order for UPL.
System A and B are below. Still haven't found any more stock to place into these systems. Should find more when earnings pick up again.
I did not get into any new positions because unfortunately I got designated a pattern day trader...oops. It will be taken care of tomorrow. I plan to open a short put spread in XLU, a short put spread in NTES and possibly a short put spread in DOC.
Doing well with this system, as the market continues to climb. As we approach earnings season, I will be closing each out and hopefully opening others.
Closed out of LPX at a profit. See attachment below.
I will put in orders for XLU and DOC tomorrow in this account
I have been trading part-time since 2011 and continue to love all things concerning the market. I am also a high school math teacher and it was one of my students who exposed me to trading.