Back to business - Week in review (July 1 - July 5)
After a terrible last month, this month is off to a decent start.
The market continues upwards, which is nice, but has also put all my open bearish/neutral trades in the red.
Here are the new positions from last week:
Opened #
| Ticker | Action | Type | Date | Expiry | Sell Strike | Buy Strike | Premium | Qty | Fee | Net |
|---|---|---|---|---|---|---|---|---|---|---|
| QCOM | open | BPS | 2024-07-01 | 2024-08-16 | 175 | 170 | 0.78 | 2 | 1.4 | 154.6 |
| SPY | open | BPS | 2024-07-02 | 2024-07-12 | 538 | 529 | 0.51 | 3 | 4.21 | 148.79 |
| MU | open | BPS | 2024-07-03 | 2024-08-16 | 120 | 115 | 0.9 | 2 | 1.4 | 178.6 |
| CMG | open | BPS | 2024-07-03 | 2024-08-16 | 57 | 52 | 0.8 | 2 | 1.4 | 158.6 |
| SPY | open | BCS | 2024-07-05 | 2024-08-16 | 555 | 556 | 0.55 | 1 | 1.28 | 53.72 |
A mixture of everything including weekly SPY trade, bearish SPY trade, and a few trend plays.
Closed / Expired: #
| Ticker | Action | Type | Date | Expiry | Sell Strike | Buy Strike | Premium | Qty | Fee | Net | Profit/Loss |
|---|---|---|---|---|---|---|---|---|---|---|---|
| IWM | open | BCS | 2024-06-13 | 2024-07-12 | 206 | 207 | 0.34 | 1 | 2.11 | 31.89 | $14.79 |
| IWM | close | BCS | 2024-07-05 | 2024-07-12 | 207 | 206 | -0.15 | 1 | 2.1 | -17.1 | |
| MSFT | open | BPS | 2024-06-13 | 2024-09-20 | 400 | 385 | 1.8 | 1 | 1.41 | 178.59 | $97.19 |
| MSFT | close | BPS | 2024-07-05 | 2024-09-20 | 385 | 400 | -0.8 | 1 | 1.4 | -81.4 | |
| MS | open | BPS | 2024-06-17 | 2024-08-16 | 90 | 85 | 0.99 | 2 | 1.12 | 196.88 | $105.49 |
| MS | close | BPS | 2024-07-01 | 2024-08-16 | 85 | 90 | -0.45 | 2 | 1.39 | -91.39 | |
| SPY | open | BPS | 2024-07-02 | 2024-07-12 | 538 | 529 | 0.51 | 3 | 4.21 | 148.79 | $118.83 |
| SPY | close | BPS | 2024-07-05 | 2024-07-12 | 529 | 538 | -0.08 | 3 | 5.96 | -29.96 |
- Closed Net Profits/Loss: $336.30
Closed my weekly SPY position early again. It reached 80% of its max profit in just a few days, so didn't want to risk holding it another week just to make 20%.
Wondering if it is the right decision or not in the long term? Am I leaving money on the table? My original strategy is just to let it run to expiry, but I also did not backtest to see if it is better to take profits at 80% or not.
Notes and Lessons #
Market continues to be crazy hot. How much longer can it go like this? New highs every day basically.
I have been taking a whole bunch of bearish positions recently, and they are all basically sitting at losses right now.
The last decent pullback was in April.
Should I forget about trying to have a balanced portfolio (ie. bullish + bearish positions)? Or, should I just go all in on the bull trend and make as much money as I can while it's hot?
Something to think about.