Let the losses begin - Week in review (July 10 - 14)
More losses this past week.
I've decided to stop praying, and just start eating my losses. Tastes bitter.
I'm still opening some new positions, and experimenting a lot with short term "trade ideas" from Option Alpha. It hasn't worked out very well so far.
Here's the trades from last week.
Opened: #
- TSLA (adjustment)
- GLD
- MSFT
- WFC x2 (iron condor)
- ABBV
- SPX
- PNC
- BAC x2 (iron condor)
| Ticker | Action (open/close) | Type | Date | Expiry | Sell Strike | Buy Strike | Premium | Qty | Fee | Net |
|---|---|---|---|---|---|---|---|---|---|---|
| TSLA | open | BPS | 2023-07-10 | 2023-07-21 | 230 | 225 | 0.36 | 1 | 3.08 | 32.92 |
| GLD | open | BCS | 2023-07-11 | 2023-09-29 | 190 | 192 | 0.3 | 1 | 2.11 | 27.89 |
| MSFT | open | BPS | 2023-07-11 | 2023-10-20 | 285 | 275 | 1 | 1 | 1.4 | 98.6 |
| WFC | open | BPS | 2023-07-11 | 2023-07-14 | 41 | 40.5 | 0.1 | 1 | 2.1 | 7.9 |
| WFC | open | BCS | 2023-07-11 | 2023-07-14 | 43 | 43.5 | 0.15 | 1 | 2.1 | 12.9 |
| ABBV | open | BPS | 2023-07-12 | 2023-07-14 | 136 | 135 | 0.6 | 1 | 1.4 | 58.6 |
| SPX | open | BCS | 2023-07-13 | 2023-07-17 | 4555 | 4560 | 0.5 | 1 | 3.28 | 46.72 |
| PNC | open | BPS | 2023-07-14 | 2023-07-14 | 128 | 127 | 0.38 | 1 | 0.6 | 37.4 |
| BAC | open | BPS | 2023-07-14 | 2023-07-14 | 29.5 | 29 | 0.24 | 1 | 2.1 | 21.9 |
| BAC | open | BCS | 2023-07-14 | 2023-07-14 | 30 | 30.5 | 0 | 1 | 2.1 | -2.1 |
Closed / Assigned / Exercised: #
A bit of a mess, with some of my short term plays getting assigned/exercised. Starting to be difficult to keep track of everything.
| Ticker | Action | Type | Date | Expiry | Sell Strike | Buy Strike | Premium | Qty | Fee | Net | Profit/Loss |
|---|---|---|---|---|---|---|---|---|---|---|---|
| GIS | open | BPS | 2023-05-24 | 2023-07-21 | 80 | 77.5 | 0.37 | 2 | 0.2 | 73.8 | -426.20 |
| GIS | assigned | BPS | 2023-07-07 | 2023-07-21 | 0 | 80 | -80 | 2 | 0 | -16000 | |
| GIS | exercised | BPS | 2023-07-10 | 2023-07-21 | 77.5 | 0 | 77.5 | 2 | 0 | 15500 | |
| ATVI | open | BCS | 2023-06-15 | 2023-07-21 | 87.5 | 90 | 0.5 | 1 | 1.4 | 48.6 | -122.8 |
| ATVI | close | BCS | 2023-07-12 | 2023-07-21 | 90 | 87.5 | -1.7 | 1 | 1.4 | -171.4 | |
| ATVI | open | BCS | 2023-06-28 | 2023-08-18 | 92.5 | 95 | 0.72 | 1 | 1.4 | 70.6 | -93.5 |
| ATVI | close | BCS | 2023-07-12 | 2023-08-18 | 95 | 92.5 | -1.62 | 1 | 2.1 | -164.1 | |
| SE | open | BPS | 2023-07-03 | 2023-08-18 | 50 | 45 | 0.88 | 1 | 1.4 | 86.6 | 35.2 |
| SE | close | BPS | 2023-07-14 | 2023-08-18 | 45 | 50 | -0.5 | 1 | 1.4 | -51.4 | |
| NVDA | open | BPS | 2023-07-05 | 2023-09-15 | 340 | 335 | 0.75 | 1 | 1.4 | 73.6 | 34.34 |
| NVDA | close | BPS | 2023-07-14 | 2023-09-15 | 335 | 340 | -0.38 | 1 | 1.26 | -39.26 | |
| EOG | open | BCS | 2023-07-07 | 2023-09-15 | 125 | 130 | 0.78 | 1 | 0.6 | 77.4 | -103.2 |
| EOG | close | BCS | 2023-07-13 | 2023-09-15 | 130 | 125 | -1.8 | 1 | 0.6 | -180.6 | |
| TSLA | open | BPS | 2023-07-10 | 2023-07-21 | 230 | 225 | 0.36 | 1 | 3.08 | 32.92 | 12.42 |
| TSLA | close | BPS | 2023-07-13 | 2023-07-21 | 225 | 230 | -0.18 | 1 | 2.5 | -20.5 | |
| WFC | open | BPS | 2023-07-11 | 2023-07-14 | 41 | 40.5 | 0.1 | 1 | 2.1 | 7.9 | 7.9 |
| WFC | expired | BPS | 2023-07-14 | 2023-07-14 | 40.5 | 41 | 1 | 0 | |||
| WFC | open | BCS | 2023-07-11 | 2023-07-14 | 43 | 43.5 | 0.15 | 1 | 2.1 | 12.9 | -37.10 |
| WFC | assigned | BCS | 2023-07-14 | 2023-07-14 | - | 43 | 43 | 1 | 0 | 4300 | |
| WFC | exercised | BCS | 2023-07-14 | 2023-07-14 | 43.5 | - | -43.5 | 1 | 0 | -4350 | |
| ABBV | open | BPS | 2023-07-12 | 2023-07-14 | 136 | 135 | 0.6 | 1 | 1.4 | 58.6 | 58.6 |
| ABBV | close | BPS | 2023-07-14 | 2023-07-14 | 135 | 136 | 0 | 1 | 0 | 0 | |
| PNC | open | BPS | 2023-07-14 | 2023-07-14 | 128 | 127 | 0.38 | 1 | 0.6 | 37.4 | -62.60 |
| PNC | assigned | BPS | 2023-07-14 | 2023-07-14 | - | 128 | -128 | 1 | 0 | -12800 | |
| PNC | exercised | BPS | 2023-07-14 | 2023-07-14 | 127 | - | 127 | 1 | 0 | 12700 | |
| BAC | open | BCS | 2023-07-14 | 2023-07-14 | 30 | 30.5 | 0 | 1 | 2.1 | -2.1 | -2.1 |
| BAC | expired | BCS | 2023-07-14 | 2023-07-14 | 30.5 | 30 | 0 | 1 | 0 | 0 | |
| SPX | open | BCS | 2023-07-13 | 2023-07-17 | 4555 | 4560 | 0.5 | 1 | 3.28 | 46.72 | 18.62 |
| SPX | close | BCS | 2023-07-14 | 2023-07-17 | 4560 | 4555 | -0.25 | 1 | 3.1 | -28.1 |
- Closed Net Profits/Loss: -$680.42 😩
Notes and Lessons #
My portfolio has gotten a bit out of hand, so will be trying to clean things up the next couple weeks. That means taking more losses, and starting over basically.
Bad Luck? #
Recently, seem to be having some bad luck. Or I'm doing something wrong.
ATVI spiked up 10% in one day against my bearish positions after their takeover from Microsoft was getting "reconsidered" by EU. This was after it got rejected just a couple months earlier. I took the loss already.
VMW spiked 5% in one day after the EU approved their takeover by Broadcom. I haven't taken my loss yet, but will next week.
Maybe I just need to stop going bearish on tech stocks for awhile. 😅
Short term "trade ideas" not working #
I've been trying a lot of short term trade ideas from Option Alpha. They were all listed with positive Expected Value (EV), and high probability of profit.
Unfortunately, most have lost money so far. Only 2/6 have closed for profits. Not sure if I should keep trying them or not. Maybe a few more.
I got assigned 100 shares of BAC, and hope to sell calls on it until its profitable.
MSFT 90 day put spreads #
Something that has been working out so far has been selling 90 DTE puts on MSFT (.15/.10 delta). Haven't closed any of the trades yet, but they're all sitting in profits right now.