Starting a trading journal finally. I’ve been following Conq’s challenge plays pretty much exactly, so this isn’t for that. I’ll be playing this with my margin account and will mainly be for multi-legged option strategies. Single leg options and quick swings will be on my cash account. This will be a slower moving trading journal as most of my positions will be opened with 30-45 DTE and staying in most if not all positions at least overnight, and most for several days. The goal is to:
- Make money of course.
- Play multi-legged option strategies
- Not blow up my account like a well known friend of ours that played spreads.
- Take advantage of high volatility.
No positions opened today on this account. Will start tomorrow. Cheers!
Two positions opened today:
SPY bear call spread 4/6/22 445/450: 0.85 credit
SPY bear call spread 3/18/22 435/436: 0.36 credit.
I opened the 434/436 on that SPY pump. I thought it was an overreaction, so I wanted to capture the premium from the volatility. That spread is now worth 0.18. Normally I would close at 50% profit, but I got caught up.
Cheers
Today seemed more like “revenge” trading for this account, not good. Opened
SPY 3/16 428/416 Put Spread at 3.72: Kinda not happy with this one. Not because I don’t think it will play out, but because I opened it for a wrong reason. I saw SPY ripping into the sky for almost no reason and thought it was stupid, so I opened this spread. Reasoning behind the strike choices - It bounced off of 415ish a couple of times recently, so I STO more so to get an ATM put at a discount.
Opened 2 more SPY 434/436 bear call spreads.
This account is too bearish right now, so I’ll look to go long on some stuff that is not too SPY correlated tomorrow. Also looking to open some ICs if the set up is right. Overall not happy with why I chose my trades, but let’s hope it plays out.
Cheers
Let’s play earnings!
DOCU 3/11/22 Iron Condor 114/115/81/80 @ 0.39: Might be screwed on this one.
RIVN 3/11/22 bear call spread 42/43 @ 0.37
All other positions still open.