Evening Traders and Followers,
Hopefully what you read here is as informational and helpful as can be. Im no genius im no expert but I AM NINJA! This week was interesting. From our usual Sunday night game plan where I share my WL for the week and our opening play for Monday morning. Everything actually went well Monday but of course from starting green to closing red………..Here we go!
The Intro: Monday 4/30
$ABBV was trade of the week to start. Game lan was play Calls at open Monday on any pullback as we did. They ran up 100% by lunch and closed red by close. No surprise to a Monday start.
We wake up to some great news of of Tender Offer allowing purchase of shares in range from 99-114. We gap up +$5 putting our calls from red to bright green or +700%
Wednesday – Thursday 5/2-5/3:
The Chop returns and of course taking some positions such as $DATA $SQ $BZUN $LLY and $SPY Puts… This is called the bored stage. When we should just be trading 1-2 trades. Did these pay? Of course at one point but some trades we get greedy and stubborn by averaging down. OH I know I did.
Friday: MAY THE 4TH BE WITH YOU 5/4:
Thursday night I was up while my team was sleep and posting charts in the room pure usual. $PG and $AAPL was what we were going to play at open that was that. $PG 71.5c and $APPL $180C did we play? DONT ASK lol! But on a goodnote if we did $PG paid 500% and $APPLE well thanks Warren paid 2,000%.
So what did we do? Well I said id stay away from $SPX but I have an addiction and LOVE and HATE with her. Yes he’s a She in my world because she can be a B*TCH!.
OK OK back to story… Game plan changed totally 360º! We moved to $SPX.
Bought to open Puts small and then Added to our 2650C that we purchased Thursday for total of 50Cons. at an avg of .61. It started at 2.25. When I go above doubling down its a sure trade but nothing is this market is for sure. So now we are hedged. Puts and calls literally were priced the same until I saw where we opened today. (Night before I told team either we gap over and run or we open red pullback then charge. Charge was the case)
We sold Puts for a loss somebody had to die and puts did just that. (another sign to my madness when I drop one side of the hedge im leaning towards the side im holding. Obvious to most I know but it works.
Strategy in this case was always sell 10% or 75% of position above 100% . In this case seeing the strength and my levels of confirmation below was my sell strategy
The goal is to always have 1 bullet left just incase the impossible becomes more impossible. $SPX trade today wiped out all losses for the past 5 weeks. Best part about options id held all 50cons until 10.00 as planned the trade would’ve been huge because once I see first part I break it up depending on 15 and 30 min keltner channels.
Have a great weekend. Ill go back to adding spread sheet again soon. Very time consuming but I guess its effective it shows where I went wrong.