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Joined: 28 Dec 2005 Posts: 11980
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Posted: Fri Jun 17, 2022 5:25 am Post subject: Jun 17th Trading Log (Updated & Next Week Trading) |
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Jun 17th Trading Log (Updates):
Current Trades: Sold 100 SPY 375 calls at 8.5, bought back the 100 SPY 375 calls at 7.9, bought 100 more SPY 375 calls at 7.4, bought 100 more SPY 375 calls at 6.9, bought 50 SPY Jul 370 calls at 8.5, sold 1,000 IWM shares at 165.50, sold the 50 SPY 370 calls at 9.5, sold 100 SPY 375 calls at 7.5, bought 100 SPY Jul 370 calls at 9, sold 1,000 IWM shares at 165.50, bought 100 SPY 375 calls at 6.5, sold 100 SPY 375 calls at 7.1, sold 100 SPY 375 calls at 7.6, sold the 100 SPY 370 calls at 10.75, sold 100 SPY 380 calls at 6, bought 100 SPY 370 calls back at 9.75, and bought the 2,000 IWM shares back at 165.00. ---------- SPX traded between 3,636 and 3,708 closing at 3,675. SPX held the yearly lows in the 3,630s today and yesterday. The daily NYMO is negative 50 and the Fear & Greed Index is 14 (extreme fear). The daily SPX RSI is below 32. Although, technical indicators suggest an uptrend, SPX can drop quickly to significant support at 3,550 and 3,450. If that happens, I would buy calls, including selling stock at losses and buying much cheaper calls. However, SPX may instead rise to significant resistance at 3,750 and 3,900, to sell. A volatile range, e.g. between 3,640 and 3,750, would allow me to capture some gains, similar to today. Extreme technical, sentiment, and standard errors indicators show buy SPY on dips and if it falls further, it will do so quickly and snap back strongly.
My portfolio is about $1,560,000 including $605,700 in cash.
Calls Contracts-Shares Long
SPY Jul 370 2022 100
SPY Jul 375 2022 200
SPY Jul 380 2022 100
IWM 4,000 shares
Puts Contracts-Shares Short
None
Portfolio at $100,000 on March 1st, 2018. Portfolio stop loss suspended. Scaled up and adjusted portfolio. Both prior portfolios, since early 2000s, rose initially and substantially, and then failed quickly in “irrational” market “melt-ups," where stocks can go straight up month after month. |
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