Missed opportunity - Week in review (Nov 6 - Nov 10)
Market continued booming this week.
Unfortunately, almost all of my positions already closed last week, so I wasn't able to take advantage.
Got me thinking, I shouldn't be taking taken 50% profits on everything. I should probably let some winning positions run more.
But, how do I decide what to let run and when to actually close?
Something to think about.
Opened #
| Ticker | Action | Type | Date | Expiry | Sell Strike | Buy Strike | Premium | Qty | Fee | Net |
|---|---|---|---|---|---|---|---|---|---|---|
| MSFT | open | BPS | 2023-11-07 | 2023-02-16 | 310 | 295 | 1.36 | 1 | 1.24 | 134.76 |
| MRVL | open | BCS | 2023-11-07 | 2023-12-15 | 57.5 | 62.5 | 0.72 | 2 | 2.73 | 141.27 |
| SPY | open | BPS | 2023-11-07 | 2023-11-17 | 424 | 414 | 0.55 | 1 | 2.08 | 52.92 |
| CNQ | open | BPS | 2023-11-10 | 2023-12-15 | 60 | 55 | 0.7 | 2 | 0.24 | 139.76 |
Few new positions this week. I only have 5 total positions right now, because almost everything closed after the big market uptick last week.
MRVL immediately went against my position, so I closed it for a loss just a couple days later:
Closed / Expired: #
| Ticker | Action | Type | Date | Expiry | Sell Strike | Buy Strike | Premium | Qty | Fee | Net | Profit/Loss |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NVDA | open | BPS | 2023-10-25 | 2023-12-15 | 360 | 355 | 0.8 | 2 | 1.38 | 158.62 | $77.22 |
| NVDA | close | BPS | 2023-11-06 | 2023-12-15 | 355 | 360 | -0.4 | 2 | 1.4 | -81.4 | |
| SPY | open | BPS | 2023-10-30 | 2023-11-10 | 400 | 388 | 0.88 | 1 | 2.48 | 85.52 | $85.52 |
| SPY | expired | BPS | 2023-11-10 | 2023-11-10 | 388 | 400 | 1 | 0 | |||
| MRVL | open | BCS | 2023-11-07 | 2023-12-15 | 57.5 | 62.5 | 0.72 | 2 | 2.73 | 141.27 | -$104.80 |
| MRVL | close | BCS | 2023-11-09 | 2023-12-15 | 62.5 | 57.5 | -1.22 | 2 | 2.07 | -246.07 |
- Closed Net Profits/Loss: $57.94
Should've let NVDA run a bit more. Oh well.
Notes and Lessons #
Market has been super hot recently.
It's making me wary about continuing to add bullish positions, as seems like there should be some sort of pullback eventually. But, you never know. It could just keep pumping for awhile.
The trend is your friend, as they say.