We’ve adjusted a position in the Paid-to-Play portfolio today: [Read more…]
[Options] Playing a Risky Reversal
We continue to be handcuffed by earnings season. Some of the best setups we like right now are in stocks slated to announce earnings over the next week or two. As an options trader, I don’t like to position ahead of imminent earnings announcements. That is tough binary risk to control.
Today’s trade has earnings coming up in a little over a month from now, so that’ll have to do. At least it gives us some time to build a little cushion. Because if we’re wrong in this trade, it’s likely we’ll find out pretty quickly over the next two weeks. [Read more…]
[Options P2P] Trade Alert: Exited XLU Position
We had a resting GTC order filled in the Paid-to-Play portfolio:
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[Options P2P] Adjustment to XLV Position
We’ve adjusted a position in the Paid-to-Play portfolio today: [Read more…]
The Math Doesn’t Work When You Suffer Big Losses
I was talking with a relatively new day trader last night at my twice-monthly trader meetups here in Colorado. We were chatting about stop losses. Or more specifically, his inability to stick to his “mental stop loss levels.”
As you can imagine, this was leading to him taking occasional big losses – which were wiping out good runs in the market.
He’d make a few hundred bucks several days in a row. He’d then lose it all (and then some) on one bad trade.
A lightbulb went off in his head when I reframed the importance of not taking big losses. No doubt many of you are shaking your heads and uttering – duh!
But for this gentleman, it took me breaking it down this way for him to get the picture: [Read more…]
[Options P2P] Adjustment to XLK Position
We’ve adjusted a position in the Paid-to-Play portfolio today: [Read more…]
[Options Premium] Blue Steel
I dunno why, but thinking about train tracks and rail stocks got me thinking of Blue Steel. There is absolutely no connection between today’s trade and the pose made famous by the Zoolander film. But, you’re welcome.
Today’s trade idea comes straight from All Star Charts’ recent Mid-Month Conference Call.
While not aggressively bullish here, I do think there is an opportunity to leverage high options premiums into a high-probability bet. [Read more…]
[Options P2P] Trade Alert: Closed ITB at Profit Target
We had a resting GTC order filled at our profit target in the Paid-to-Play portfolio today: [Read more…]
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