Updated this in discord for the sake of time, but I cut the UBER put, netted $29 which was a 32% gain.
ASTR - We’ve started to see some upward momentum heading towards 3PM, we acquired our position ahead of time to beat out IV and FOMO, now we should see a modest increase in the value of our options as people start to place bets on the launch.
Totally out of ASTR, cut before launch as called, 46% gain, $239.00.
Adding to my SENS calls here at this level. Same .40 fill price I called earlier.
Greatly reduced my SENS position, watching the price action. Profit taking at open is normal here, however SENS has been respecting the $3 support most of the morning.
SENS - Totally out here.
Entered 5 SENS 3 strike puts
Cut my SENS puts for 30% profit, just trading back some of the losses.
Done with SENS here. Its consolidating in these levels and we don’t know where the market will value it with the bad projections coupled with the good approval. Sometimes you’ve got to let a stock pick a direction and this is one of those times.
Took a large hit in the challenge account this AM essentially wiping out the account wide gains I made this week. I can get blown out just the same, the SENS news was unexpected and even more so unexpected to be coupled with their earnings projections in the way it was. And while that sucks, there is one aspect to shine light on, which is that I’m not negative:
Overall on the play I’m green $396.00. It sucks that some other bad plays cut into those gains, but at the end of the day, I lost house money. The account is still above 1K and I live to trade another day. This is why taking profit and re-positioning and taking good entries is key.
To the next play.
A lot of trading is mental. If you don’t feel like trading, you shouldn’t trade. Taking a break for now to get some work done.
Alright, back from the bakery. I feel better, more focused. Don’t underestimate how healthy stepping away can be and don’t hesitate to do the same if you ever feel the need.
Majorly trimmed CVS on this downward
Took a FEB 18th SPY 430 put here. This is above average risk and I wouldn’t quite suggest following this exact trade.
SPY is currently trading in an inverse head and shoulders, but this position is with the intent of holding over the weekend. – One thing that I haven’t discussed I don’t think is that this account is the only account I’m now actively trading, so while the majority of trades will be focused on being safe, I will occasionally take “me style” bets because I sometimes enjoy them. I will denote these trades and I do genuinely advise that instead of following me into the trade, you just watch it play out @Kevin.
Perfect pattern callout and a position taken going the opposite way.
So far this AM, I’m holding my SPY put and averaged down (lol) my WEBR 7.5ps as a small gamble. Mostly cash at the moment and will be reviewing potential plays here in a little bit.
Restarting the stream machine, its running kinda slow.
Bought one more SPY Feb 18 430 PUT here to average down. This will be all the money I’m willing to put into this position and will be quick to cut it.
Out of my SPY puts here. Don’t want to get caught by a reversal candle.