Bounce back - Week in review (Apr 22 - Apr 26)
Market bounced back up this past week.
Made a little bit back from the huge loss last week.
But, also made me think that I shouldn't have cut my loss last week. No, cutting the loss was the correct decision. Stick to the rules. I should've just cut it earlier, so I wouldn't have loss so much.
Few new positions this week:
Opened #
| Ticker | Action | Type | Date | Expiry | Sell Strike | Buy Strike | Premium | Qty | Fee | Net |
|---|---|---|---|---|---|---|---|---|---|---|
| PG | open | BPS | 2024-04-23 | 2024-07-19 | 150 | 140 | 0.51 | 1 | 1.4 | 49.6 |
| SPY | open | BPS | 2024-04-23 | 2024-05-03 | 490 | 480 | 0.72 | 2 | 2.79 | 141.21 |
| COST | open | BPS | 2024-04-23 | 2024-07-19 | 650 | 630 | 2.14 | 1 | 1.4 | 212.6 |
| MU | open | BPS | 2024-04-25 | 2024-06-21 | 100 | 95 | 1.15 | 2 | 1.23 | 228.77 |
Weekly SPY trade, monthly PG trade. The premium on PG was super low, not sure if should have bothered with it or not.
Added COST to my monthly long-term trading strategy (same as PG). This is the first month I'm trading it.
Closed / Expired: #
| Ticker | Action | Type | Date | Expiry | Sell Strike | Buy Strike | Premium | Qty | Fee | Net | Profit/Loss |
|---|---|---|---|---|---|---|---|---|---|---|---|
| TMUS | open | BPS | 2024-03-21 | 2024-05-17 | 155 | 150 | 0.7 | 2 | 1.11 | 138.89 | $67.49 |
| TMUS | close | BPS | 2024-04-23 | 2024-05-17 | 150 | 155 | -0.35 | 2 | 1.4 | -71.4 | |
| PG | open | BPS | 2024-03-27 | 2024-06-21 | 150 | 140 | 0.6 | 2 | 1.48 | 118.52 | $47.13 |
| PG | close | BPS | 2024-04-22 | 2024-06-21 | 140 | 150 | -0.35 | 2 | 1.39 | -71.39 | |
| SPY | open | BPS | 2024-04-16 | 2024-04-26 | 485 | 475 | 0.7 | 1 | 3.08 | 66.92 | $66.92 |
| SPY | expired | BPS | 2024-04-26 | 2024-04-26 | 475 | 485 | 0 | 1 | 0 | 0 |
- Closed Net Profits/Loss: $181.54
Few small wins. Not enough to flip this month into positive after last week though.
Notes and Lessons #
The big loss from last week still stings. Should've just cut it earlier.
Market rebounded this week, so managed to close a few small positions.
Seems like I can only make money when the market is bullish. That's not good. I need to make money when its going both ways.
I guess my strategies are all mainly bullish though, so maybe need to think about more ways to balance things out.