Hanging on - Week in review (Sep 25 - Sep 29)
Another losing week.
Market continued downward, though there was a glimpse of hope at the end as it bounced off major support level.
Will it hold? Who knows.
I realized I do really poorly in bear markets. My mind is still stuck in that long-term investor mindset. I think the market will always go up, so it's really hard to take a bearish position even when it looks obvious on the chart.
Opened #
Some stupid trading this week. Opened a TXN bull position, then cut my losses quickly when it looked like it fell under support.
Then, it bounced the next day, so I regretted closing my position, and got back in. 😅
- SPY
- TXN (x2)
- CRM
- CSCO (covered call)
| Ticker | Action | Type | Date | Expiry | Sell Strike | Buy Strike | Premium | Qty | Fee | Net |
|---|---|---|---|---|---|---|---|---|---|---|
| SPY | open | BPS | 2023-09-26 | 2023-10-06 | 419 | 409 | 1.01 | 1 | 3.08 | 97.92 |
| TXN | open | BPS | 2023-09-26 | 2023-11-17 | 150 | 140 | 1.6 | 1 | 1.4 | 158.6 |
| CRM | open | BPS | 2023-09-26 | 2023-11-17 | 190 | 185 | 0.82 | 2 | 1.41 | 162.59 |
| TXN | open | BPS | 2023-09-28 | 2023-11-17 | 150 | 145 | 0.96 | 2 | 2.82 | 189.18 |
| CSCO | open | Covered Call | 2023-09-27 | 2023-11-17 | 0.3 | 0 | 0.3 | 1 | 0.63 | 29.37 |
Closed / Expired: #
Cut losses a bit late on SPY position. I was hoping and praying again instead of being an emotionless killer.
| Ticker | Action | Type | Date | Expiry | Sell Strike | Buy Strike | Premium | Qty | Fee | Net | Profit/Loss |
|---|---|---|---|---|---|---|---|---|---|---|---|
| BSX | open | BCS | 2023-09-05 | 2023-09-15 | 57.5 | 60 | 0.4 | 4 | 2.08 | 157.92 | $52.33 |
| BSX | close | BCS | 2023-09-26 | 2023-09-15 | 60 | 57.5 | -0.26 | 4 | 1.59 | -105.59 | |
| SBUX | open | BPS | 2023-09-12 | 2023-11-17 | 90 | 85 | 0.9 | 2 | 2.81 | 177.19 | -$135.53 |
| SBUX | close | BPS | 2023-09-26 | 2023-11-17 | 85 | 90 | -1.55 | 2 | 2.72 | -312.72 | |
| SPY | open | BPS | 2023-09-19 | 2023-09-29 | 433 | 423 | 0.67 | 1 | 3.08 | 63.92 | -$308.34 |
| SPY | close | BPS | 2023-09-25 | 2023-09-29 | 423 | 433 | -3.71 | 1 | 1.26 | -372.26 | |
| SO | open | BCS | 2023-09-21 | 2023-11-17 | 75 | 77.5 | 0.32 | 4 | 3.52 | 124.48 | $54.28 |
| SO | close | BCS | 2023-09-26 | 2023-11-17 | 77.5 | 75 | -0.17 | 4 | 2.2 | -70.2 | |
| TXN | open | BPS | 2023-09-26 | 2023-11-17 | 150 | 140 | 1.6 | 1 | 1.4 | 158.6 | -$52.81 |
| TXN | close | BPS | 2023-09-27 | 2023-11-17 | 140 | 150 | -2.1 | 1 | 1.41 | -211.41 |
- Closed Net Profits/Loss: -$390.07
Notes and Lessons #
My losing weeks are a lot bigger than my winning weeks, which is not good.
I would rather have a few big winning weeks, and many small losing weeks.
Getting better at cutting losses, although still not as ruthless as I need to be.
Biggest lost of last week was SPY, which should have actually been cut the week before. I didn't want to feel the pain of realizing the loss.
Pain procastination.
Generally everything is down this week. If market keeps tanking, I'm going to be in a huge hole with my MSFT strategy. So, let's hope it calms down a bit.