Still taking it slow - Week in review (Aug 7 - 11)
Still taking it slow this week and trying not to jump mindlessly into trades.
Harder than it seems, as every trade always seems like it will make money (overly optimistic). It's like gambling...you always think you can win the next hand.
To relieve the itchy trigger finger, I am implementing a couple of strategies which will allow me to sort mindlesslly trade each week regardless (see notes).
Here are the opened and closed trades from last week.
Opened: #
- QQQ
- MSFT
- PEP
- SPY
| Ticker | Action (open/close) | Type | Date | Expiry | Sell Strike | Buy Strike | Premium | Qty | Fee | Net |
|---|---|---|---|---|---|---|---|---|---|---|
| QQQ | open | BPS | 2023-08-08 | 2023-09-15 | 355 | 350 | 0.8 | 2 | 1.15 | 158.85 |
| MSFT | open | BPS | 2023-08-08 | 2023-09-15 | 285 | 275 | 1.27 | 1 | 1.27 | 125.73 |
| PEP | open | BPS | 2023-08-08 | 2023-09-15 | 180 | 175 | 0.66 | 2 | 1.41 | 130.59 |
| SPY | open | BPS | 2023-08-11 | 2023-08-21 | 434 | 423 | 0.76 | 1 | 2.1 | 73.9 |
Closed / Expired: #
Closed out three positions this week: GLD, WMT, and SPY
| Ticker | Action | Type | Date | Expiry | Sell Strike | Buy Strike | Premium | Qty | Fee | Net | Profit/Loss |
|---|---|---|---|---|---|---|---|---|---|---|---|
| GLD | open | BCS | 2023-07-11 | 2023-09-29 | 190 | 192 | 0.3 | 1 | 2.11 | 27.89 | $11.79 |
| GLD | close | BCS | 2023-08-09 | 2023-09-29 | 192 | 190 | -0.14 | 1 | 2.1 | -16.1 | |
| WMT | open | BCS | 2023-07-25 | 2023-09-15 | 165 | 170 | 1 | 2 | 2.1 | 197.9 | -$53.51 |
| WMT | close | BCS | 2023-08-11 | 2023-09-15 | 170 | 165 | -1.25 | 2 | 1.41 | -251.41 | |
| SPY | open | BPS | 2023-07-25 | 2023-08-07 | 444 | 435 | 0.52 | 1 | 1.4 | 50.6 | $50.60 |
| SPY | expired | BPS | 2023-08-07 | 2023-08-07 | 435 | 444 | 0 | 1 | 0 | 0 |
- Closed Net Profits/Loss: $8.88 (lucky number! 😛)
Notes and Lessons #
WMT hardly did anything at all since I entered the position. It's been hovering around it's all time high for the past while. I thought it would have a decent pullback / sell-off after hitting the all-time high resistance, but it did not.
Looking at it made me anxious thinking it will breakout anyday, so I decided to get out for a small loss.
SPY strategy #
SPY trade is a short term trading strategy I'm starting to implement.
Similar to the MSFT strategy I'm using.
Basically every week or so, I will sell a 10 DTE spread on SPY. Don't need to think about it. Just do it every week. Based on backtests from optionalpha, it works out positively. Still deciding on the exact details to follow (DTE, allocation, profit taking, cut loss target, etc.)