Patience - Week in review (Oct 9 - Oct 13)
Maybe the hardest part about trading is patience.
Patience to wait for a good setup.
Then, when the setup ends up not working out (which is 50% of the time), you still have to be patient for the next setup.
If not, you end up overtrading, and chasing "missed" opportunities.
Slow week; market shot up, then shot back down.
Opened #
Only two new positions opened this week:
- SPY
- ORCL
Maybe shouldn't have opened the weekly SPY position, because the premium was super low. Just trying to stick to the plan though.
Ticker | Action | Type | Date | Expiry | Sell Strike | Buy Strike | Premium | Qty | Fee | Net |
---|---|---|---|---|---|---|---|---|---|---|
SPY | open | BPS | 2023-10-10 | 2023-10-20 | 421 | 409 | 0.57 | 1 | 2.48 | 54.52 |
ORCL | open | BCS | 2023-10-13 | 2023-11-17 | 115 | 120 | 0.8 | 2 | 1.37 | 158.63 |
Closed / Expired: #
Bunch of trades closed thanks to the up spike at the beginning of the week.
Took profits early on QQQ
because I was scared that the war would cause market panic. Ended up being a mistake, should've let it run.
Commissions on IWM
are super high. Need to take this into consideration next time.
Took small losses on a couple positions that I wasn't happy with.
Ticker | Action | Type | Date | Expiry | Sell Strike | Buy Strike | Premium | Qty | Fee | Net | Profit/Loss |
---|---|---|---|---|---|---|---|---|---|---|---|
MSFT | open | BPS | 2023-08-01 | 2023-11-17 | 290 | 275 | 1.69 | 1 | 1.41 | 167.59 | $85.51 |
MSFT | close | BPS | 2023-10-11 | 2023-11-17 | 275 | 290 | -0.8 | 1 | 2.08 | -82.08 | |
TXN | open | BPS | 2023-09-28 | 2023-11-17 | 150 | 145 | 0.96 | 2 | 2.82 | 189.18 | -$79.58 |
TXN | close | BPS | 2023-10-11 | 2023-11-17 | 145 | 150 | -1.33 | 2 | 2.76 | -268.76 | |
SPY | open | BPS | 2023-10-03 | 2023-10-13 | 411 | 400 | 0.75 | 1 | 3.06 | 71.94 | $71.94 |
SPY | expired | BPS | 2023-10-13 | 2023-10-13 | 400 | 411 | 0 | 1 | 0 | 0 | |
QQQ | open | BPS | 2023-10-04 | 2023-10-13 | 342 | 331 | 0.82 | 1 | 3.06 | 78.94 | $66.46 |
QQQ | close | BPS | 2023-10-09 | 2023-10-13 | 331 | 342 | -0.1 | 1 | 2.48 | -12.48 | |
IWM | open | BPS | 2023-10-05 | 2023-11-17 | 160 | 157 | 0.39 | 4 | 5.55 | 150.45 | $68.93 |
IWM | close | BPS | 2023-10-10 | 2023-11-17 | 157 | 160 | -0.19 | 4 | 5.52 | -81.52 | |
SBUX | open | BPS | 2023-10-06 | 2023-11-17 | 85 | 80 | 0.68 | 2 | 1.37 | 134.63 | -$12.13 |
SBUX | close | BPS | 2023-10-13 | 2023-11-17 | 80 | 85 | -0.72 | 2 | 2.76 | -146.76 | |
MPC | open | BPS | 2023-10-06 | 2023-11-17 | 130 | 125 | 0.85 | 2 | 1.37 | 168.63 | $82.53 |
MPC | close | BPS | 2023-10-11 | 2023-11-17 | 125 | 130 | -0.42 | 2 | 2.1 | -86.1 |
- Closed Net Profits/Loss: $283.66
Notes and Lessons #
A small profitable week.
I'm more satisfied about the small losses I took on SBUX
and TXN
.
Instead of hoping they would bounce higher, I decided to just cut them off. I didn't really like the look of the charts, so I just go rid of them. I can use the capital on another position instead.
Of course, if either of them bounce up hard next week, I'm going to think why the F did I sell early. I guess that's trading 😅