Not a great morning for Timmay thus far. I’m down a little less than 4%, and I’ve trimmed risk from 200% to about 115%. The good news is that I managed to exit some higher-risk positions (such as SMH October puts) yesterday where I’ve marked the circle (even though this is the /ES chart) which saved me a nasty, nasty loss. I’m in 34 positions, almost all of which are still profitable (I’ve thrown the losers off a cliff).
A new directional options trade for me is Nvidia, which has a clean price gap and a nearly complete H&S top. It’s also encouraging that on a day when the /NQ is up a nauseating hundreds and hundreds of points, NVDA is actually down.
My hate trade today, by the way, is IWM $297 puts that expire, yep, tomorrow. We shall see!
