Big Fat Loss! - Week in review (Apr 15 - Apr 19)
Took a huge loss this week.
Market tanked, and I only had bullish positions opened. Ended up cutting a few positions at 200% loss or higher.
Bleh. Bleehhhhhhhhhh.
Also, didn't really take any new positions, because my account had no liquidity:
Opened #
| Ticker | Action | Type | Date | Expiry | Sell Strike | Buy Strike | Premium | Qty | Fee | Net |
|---|---|---|---|---|---|---|---|---|---|---|
| SPY | open | BPS | 2024-04-16 | 2024-04-26 | 485 | 475 | 0.7 | 1 | 3.08 | 66.92 |
Just the weekly SPY trade. Also, only opened quantity of 1, because no liquidity in account.
Closed / Expired: #
| Ticker | Action | Type | Date | Expiry | Sell Strike | Buy Strike | Premium | Qty | Fee | Net | Profit/Loss |
|---|---|---|---|---|---|---|---|---|---|---|---|
| AMD | open | BPS | 2024-03-27 | 2024-05-17 | 160 | 155 | 1.29 | 2 | 1.48 | 256.52 | -$378.96 |
| AMD | close | BPS | 2024-04-19 | 2024-05-17 | 155 | 160 | -3.17 | 2 | 1.48 | -635.48 | |
| HD | open | BPS | 2024-04-09 | 2024-05-17 | 345 | 335 | 1.69 | 1 | 1.4 | 167.6 | -$373.81 |
| HD | close | BPS | 2024-04-16 | 2024-05-17 | 335 | 345 | -5.4 | 1 | 1.41 | -541.41 | |
| SPY | open | BPS | 2024-04-09 | 2024-04-19 | 501 | 491 | 0.76 | 1 | 2.1 | 73.9 | -$218.50 |
| SPY | close | BPS | 2024-04-19 | 2024-04-19 | 491 | 501 | -2.91 | 1 | 1.4 | -292.4 |
- Closed Net Profits/Loss: -$971.27
Yikes.
Notes and Lessons #
How to lose $1000 in a week. That should be name of this blog.
Three losses, zero wins.
Each loss, I closed a bit too late. Was sitting there, watching/hoping/praying that they would recover. In the back of my mind, I knew I should have cut them earlier, but then thinking ... "oh, just wait another day. What's the worse than can happen".
Well, they could all drop more!
Hesistation and undisciplined trading cost me a few extra hundred dollars. I did finally cut them all, so that's a positive I guess?
Market is down 3 weeks in a row. I feel like it might take a break next week, but we'll see what happens..