We had a resting GTC order filled at our profit target in the Paid-to-Play portfolio today: [Read more…]
[Options P2P] Adjustment to TLT Position
We’ve adjusted a position in the Paid-to-Play portfolio today: [Read more…]
[Options P2P] The Right To Change Our Minds
One of the arts of discretionary trading is practicing the ability to change our minds when facts or circumstances change.
We are not wed to following a rule rook.
There is no requirement to do “x” when “y” happens.
Of course, few discretionary traders succeed without some set of rules that are more like Best Practices. The rules may be fluid and change with market conditions, but there are almost always some guardrails in place. If for no other reason than to protect ourselves from ourselves.
The broad market selloff these past couple weeks has caused us to defensively roll a bunch of our short puts, which has eaten into our overall net positive cashflow. This will happen from time to time. But it definitely has spurred me to update my guardrails.
As the June monthly options cycle rolled off the board this past week, this makes July monthly options the “front month” options. As such, any new positions we’ll be adding starting this coming week will be in the August monthly expiration series.
Since we’ll be starting to roll out of our July options, I wanted to update you on how I likely see our current positions playing out.
[Read more…]
[Options Premium] It Comes For Them All!
Taking losses is never fun. But it’s the most important thing we do.
I wish it were different. I wish smart risk management was an exciting endeavor that made us happy. The kind of thing that makes us want to high-five our friends and adoring fans.
Unfortunately, it’s more like that menial task that you have to do over and over again, hating every minute of it, but knowing it just has to be done (like the doing the dishes or laundry).
[Options P2P] Adjustment to XLB Position
We’ve adjusted a position in the Paid-to-Play portfolio today: [Read more…]
[Options P2P] Adjustment to XLY Position
We’ve adjusted a position in the Paid-to-Play portfolio today: [Read more…]
[Options] Looking For a Quick Hit
To quote our Head Technical Analyst at All Star Charts, Steve Strazza: “Bullish setups are hard to come by these days.”
Yeah.
But, for those willing to venture into the choppy waters, recent market action has provided us with some nearby risk management levels that give us the opportunity to act quickly if we’re wrong, limiting our losses while giving us multiples of potential profit (as measured against the risk).
And today’s idea comes from the only sector to show YTD gains this year.
What’s not to like about that?
[Options P2P] Adjustment to XLU Position
We’ve adjusted a position in the Paid-to-Play portfolio today: [Read more…]
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