Playing Tiffany's earnings today. Buying 77 put, selling 75.50 and selling $72.50 put to finance the spread. All this week options.
I'm so short that this slow climb up has lost me about 2% of my account and this one day of small down move has got back almost 1%. Crazy how weeks of down can slowly grind away my account and one down day gives half of it back. I love selling premium.
I didn't even intend to be this short. But, I try and keep my trades small enough that if things keep going against me, I don't have to worry. I just make adjustments and eventually the payday will come. My biggest (and dumbest) loss was election night. I bought a bunch of uvxy calls. Still haven't recovered from that. Probably won't before end of year. But, I only use about 25% of my account. I'll eventually grow that to around 50%. Then I'll use the other half to make adjustments when things go against me. For example, HAL went against me after earnings. After some adjustments, I got out with a small gain. Pandora has gone against me after earnings too. So far, I've made 2 adjustments and now I'm at a profit. But things are looking solid so I'll keep my position and wait for more profits. UA and FSLR have gone against me too. And they will probably end up as long time holds as I try to manage my way back to scratch. Unless they get some big up moves, which I doubt, I expect I'll be put the stock, eventually. Finally, Abercrombie and Fitch went against me too. It climbed back above $15 where I want it, but today fell back down below. We will see how that one goes.
I've noticed a trend lately and only recently figured out how I could possibly be gaining in my account. Don't get me wrong, I'm still at a loss from the election, but growing from that loss. Almost every day it seems like I'm losing money. But, it occurred to me today. I'm always taking winners off and extending duration for losers. It's not uncommon that losers come back and I make money. But if I'm constantly taking winners off, it makes sense that my account will look more red than it is.
I think we are all guilty of that, taking profits off the table quickly and hoping the losers turn around!
That's a bot, right? I don't remember HSM getting hit by so many fake accounts. Is this the new norm? I got a PM tonight from someone here wanting to send me pictures of themselves.
I don't know if it's a bot as much as someone just trying to pump up some penny stock to get more hype around it. Who sent you the PM? We can make sure they get banned
I keep hearing oil is going to go screaming up or screaming down tomorrow, depending on what comes out of the OPEC meeting. Don't they have these meetings all the time? Whatever happens, I'll be asleep when it all goes down and will wake up to the destructive aftermath. Or the whimper.
$USO I sold my calls when we had the run up to 10.14 yesterday. Didn't have the balls to hold overnight through the meeting. Regretting it
so....im still in my UWTI play...i kind of wish i loaded the truck up more on the pullback we had on friday, but i dont like to hold huge positions before binary events, so oh well. but if there really is a deal, and it is good, it may be possible to buy the breakout for those who missed entry before the event.
UWTI DWTI to be delisted on the 8th of December as I'm sure you know. This would play into the volatility. These 3x bull/bear are risky enough as it is so congrats and good luck!!
Trumpflation messing with my strategies. Now add to it the OPEC vote popping oil, IF it lasts and doesn't backfire like the last one.
Taking off several winners today. I'm really liking my account lately. I actually am still expecting one more pop to the north. The e mini futures at 2250ish before heading back south. But if there is one thing I know for sure it's that I know nothing. So, I'm staying short and if we go to 2250 or 2260 on the SPX, I'll get more short.
