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Admittedly I haven’t placed many trades over the past several weeks. Some may say that the more you trade the better. Increasing your sample size is the key to success. Trade small, trade often.
In some cases, yes, but if you are only trading a limited amount of highly liquid ETFs I’m not so sure it makes sense. Wait for the set-up to come to you…don’t force trades. And yes, while no one knows the destiny of the next move, why not allow pot odds to be on your side. (more…)
Yesterday was one of those days.
We had network issues, so I spent most of my day working offline. I haven’t done that in a long, long time. As frustrating as the outage was, it saved me a little bit of cash because I was ready to fire off a few directional trades. After looking back at the SPY chart I would have most likely entered into a trade around $176.80 so I saved myself roughly $0.40 or about $0.15 to $0.20 per option contract. Hopefully, my good fortune continues today when I attack this market with a few short-term trades. (more…)
Roughly one week ago we exited what would be a profitable directional trade in XOP.
XOP had climbed into a short-term overbought state, so I decided to short the ETF using puts. Now typically, I am a seller of options, but the set-up was just too good to pass up for an aggressive style trade so I bought a few puts. The result was a 74% gain over just a few trading days. While I’m not going to anticipate similar results this time around, I am excited about the opportunity ahead. (more…)
We are in a very similar situation as we were last week…an overbought to very overbought market with two unclosed gaps. Typically, when we see this type of market a short-term reprieve is right around the corner. (more…)
Just a quick post tonight…absolutely exhausted.
As a famous man from L.A. once said, “today was a good day”.
XOP was down over 2.5% today, so I decided to lock in profits on our XOP puts. I hope some of you were able to take advantage. The pullback also helped out our credit spreads in SPY. And best of all, the pullback has given us the opportunity to add a few more positions. (more…)
