Trading Days 16-20

Good morning!

This week has been quite busy with regular work getting in the way. I was unavailable to check the markets ordo anything Tuesday – Thursday. Most of the items that were close to expiration, I rolled out. I also set a lot of GTC orders so that if one of my profit thresholds were met, I would be able to get out of the trade. Overall we had a good week. We closed out of trades for about ~$1,000 profit.

What problems did we have? COST had earnings this Thursday and we were already near our max loss. The had bad earnings which was a positive for us so we are hoping next week, the IV contracts as well as they have a bit of a bounce up so we can close out for a small winner. AMGN is one of the stocks that is testing us as well. It has already breached on the call side. We do have a lot of time left so I am just trying to close this one out for a scratch instead of dealing with some of the headaches that might come along. All in all, our portfolio is in good shape.

One of the things I want to emphasize with options is that the first trade you put on is not the last. There are so many things you can do with rolling out or up or both that can help you manage a trade. I have utilized so much of that in order to turn some of my losers into winners. I still have some decent losers on my plate but have been able to limit those as we continue on. I hope all of you are enjoying this and I might be able to put out another strategy piece later this weekend.

Enjoy a lovely Saturday!

-Mai

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