Sabotage Complete - Week in review (Dec 11 - Dec 15)
My self-sabotage from a couple weeks ago is complete.
One big losing trade ruined what otherwise would have been a decent week.
Made it even worse by not taking my loss one or two days earlier. Damn it.
Opened #
| Ticker | Action | Type | Date | Expiry | Sell Strike | Buy Strike | Premium | Qty | Fee | Net |
|---|---|---|---|---|---|---|---|---|---|---|
| SMCI | open | BPS | 2023-12-11 | 2023-01-19 | 240 | 230 | 2.2 | 1 | 0.59 | 219.41 |
| SPY | open | BPS | 2023-12-12 | 2023-12-22 | 453 | 445 | 0.47 | 1 | 2.48 | 44.52 |
| MCD | open | BPS | 2023-12-14 | 2023-03-15 | 453 | 445 | 0.83 | 1 | 2.08 | 80.92 |
| V | open | BPS | 2023-12-15 | 2023-03-15 | 235 | 225 | 0.92 | 2 | 1.09 | 182.91 |
Opened a couple positions based on my long term trend strategy (MCD, V). Completely forgot to do it last month. Doubled up my position on V because PG doesn't have any 90 day options available. Think I will add another MCD next week too, as my strategy is to have around $5k risk.
Closed / Expired: #
| Ticker | Action | Type | Date | Expiry | Sell Strike | Buy Strike | Premium | Qty | Fee | Net | Profit/Loss |
|---|---|---|---|---|---|---|---|---|---|---|---|
| BILL | open | BCS | 2023-12-01 | 2023-01-19 | 75 | 80 | 0.7 | 2 | 0.23 | 139.77 | -$372.99 |
| BILL | close | BCS | 2023-12-14 | 2023-01-19 | 80 | 75 | -2.55 | 2 | 2.76 | -512.76 | |
| SPY | open | BPS | 2023-12-05 | 2023-12-15 | 444 | 434 | 0.7 | 1 | 2.82 | 67.18 | $67.18 |
| SPY | expired | BPS | 2023-12-15 | 2023-12-15 | 434 | 444 | 0 | 1 | 0 | 0 | |
| META | open | BPS | 2023-12-05 | 2023-01-19 | 295 | 290 | 0.75 | 2 | 1.37 | 148.63 | $77.26 |
| META | close | BPS | 2023-12-12 | 2023-01-19 | 290 | 295 | -0.35 | 2 | 1.37 | -71.37 | |
| SMCI | open | BPS | 2023-12-11 | 2023-01-19 | 240 | 230 | 2.2 | 1 | 0.59 | 219.41 | $108.83 |
| SMCI | close | BPS | 2023-12-14 | 2023-01-19 | 230 | 240 | -1.1 | 1 | 0.58 | -110.58 |
- Closed Net Profits/Loss: $-119.72
Big loss on BILL. I tried to take my loss earlier, but then it gapped up and I got f*cked. I actually should've closed it MANY days earlier when it was pretty clear that it wasn't going to go back down.
Wrecked what would've been a $200+ profitable week. ðŸ˜
Also, should've let SMCI run a bit more.
Notes and Lessons #
That's now two weeks in a row of losses.
After 8 weeks of wins, seems like I lost my focus a bit and started gambling on setups that weren't optimal.
Poor trade management. Hoping and wishing instead of just cutting losses like I should.
When I realized that I shouldn't have entered a position in the first place, I should just close it for whatever small loss, instead of holding on and hoping it works out in my favour.