Pumping along - Week in review (Nov 13 - Nov 17)
The market continued upwards this week.
Making it a bit difficult to find good entries for my basic strategy as everything is "overbought" in an uptrend.
Here's my trades for the week:
Opened #
| Ticker | Action | Type | Date | Expiry | Sell Strike | Buy Strike | Premium | Qty | Fee | Net |
|---|---|---|---|---|---|---|---|---|---|---|
| SHEL | open | BPS | 2023-11-13 | 2023-01-19 | 62.5 | 57.5 | 0.75 | 1 | 0.58 | 74.42 |
| MSFT | open | BPS | 2023-11-14 | 2023-02-16 | 320 | 305 | 1.25 | 1 | 2.08 | 122.92 |
| SPY | open | BPS | 2023-11-14 | 2023-11-24 | 439 | 429 | 0.44 | 1 | 2.08 | 41.92 |
| MSFT | open | BPS | 2023-11-17 | 2023-02-16 | 330 | 300 | 2.56 | 1 | 2.09 | 253.91 |
MSFT broke its all time high, and just keeps pumping along with the market. I opened two more positions according to my MSFT strategy.
SHEL has been in pretty strong uptrend, so took a bullish position off a retrace.
I opened 1 qty by mistake again though, instead of the usual 2. I seem to do this often; need to be a bit more careful with my orders.
Closed / Expired: #
| Ticker | Action | Type | Date | Expiry | Sell Strike | Buy Strike | Premium | Qty | Fee | Net | Profit/Loss |
|---|---|---|---|---|---|---|---|---|---|---|---|
| MCD | open | BPS | 2023-09-19 | 2023-12-15 | 255 | 245 | 0.7 | 1 | 1.4 | 68.6 | $37.22 |
| MCD | close | BPS | 2023-11-16 | 2023-12-15 | 245 | 255 | -0.3 | 1 | 1.38 | -31.38 | |
| SPY | open | BPS | 2023-11-07 | 2023-11-17 | 424 | 414 | 0.55 | 1 | 2.08 | 52.92 | $52.92 |
| SPY | expired | BPS | 2023-11-17 | 2023-11-17 | 414 | 424 | 0 | 1 | 0 | 0 | |
| CNQ | open | BPS | 2023-11-10 | 2023-12-15 | 60 | 55 | 0.7 | 2 | 0.24 | 139.76 | $69.52 |
| CNQ | close | BPS | 2023-11-14 | 2023-12-15 | 55 | 60 | -0.35 | 2 | 0.24 | -70.24 |
- Closed Net Profits/Loss: $159.66
A few closed positions for small, but decent profit.
Should've had bigger position in MCD, which is part of my long term trend strategy. I noticed in some months (i.e. February), it has very little option volume, which makes it not viable for trading. I wonder why this is?
Notes and Lessons #
Another winning week. Seven weeks in a row now?
Getting a bit nervous, as I feel like I'm due for a loss 😅
The market just keeps going up. It had a huge pop up again last week. Maybe due for a slight retrace?
Or, are we going to breaking all time highs this year?
Who knows. I sure don't.