Trades this week (Apr 10 - 14) - GLD, ETSY, TSN
This past week (April 10th - 14th, 2023), I opened 3 new positions, and closed 3 existing ones.
Opened:
- GLD
- ETSY
- TSN
Closed:
- IBM
- COIN
- AMZN
Let's take a look in more detail:
Opened Positions #
I opened one Bull Put Spread (BPS), and two Bear Call Spreads (BCS) this week.
1. GLD (BCS) #
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Opened: 04/10/2023
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Expiry date: 05/19/2023
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IV%: 79%
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Sell put @ 195
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Buy put @ 199
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Premium collected: $57 / contract
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Volume: 2
Notes:
Undisciplined entry. I tried opening a position the week before, but my order didn't get filled -- probably limit price was too high. I was annoyed, so chased the trade into this week. Entered the trade even though it was no longer optimal based on stochastics and price level.GLD is currently near an all time high, so was thinking there would be a pullback. But, it is also in a strong uptrend, seems to be holding the 20-period MA. We'll see what happens
2. ETSY (BPS) #
- Opened: 04/12/2023
- Expiry date: 05/19/2023
- IV%: 40%
- Sell put @ 85
- Buy put @ 80
- Premium collected: $85 / contract
- Volume: 2
Notes:
Wanted to add a bullish position, as almost all of my trades have been bearish recently. ETSY has been trading in a flattish range over the past year. Oversold stochastics, nearing support at 100 level, with more support at 95-90 area. Should've added one more contract, but a bit timid as last couple months are in a healthy downtrend.
3. TSN - (BCS) #
- Opened: 04/13/2023
- Expiry date: 05/19/2023
- IV%: 55%
- Sell call @ 65
- Buy call @ 67.5
- Premium collected: $55 / contract
- Volume: 3
- Notes: TSN has been in a fairly healthy downtrend over the past year, so seemed suitable for a bearish trade. Implied Volatility Percentage quite high at 55%, overbought stochastics, and bunch of resistance at 65-68 price area. One thing to worry about is it has fairly low open interest at the 67.5 call strike (250ish~). So, I only opened 3 contracts instead of 5-6.
Closed Positions #
Happy to close 3 positions, all for profit 😎
1. IBM (BCS) #
- Opened: 03/30/2023
- Closed: 04/12/2023
- Total days: 13
- Premium received: $73 / contract
- Premium paid: $36 / contract
- Volume: 1
- Net Profit (after commissions): $31
Notes: This trade idea was taken from Gin Lim at passiveseeds.com. Worked out well, though should've upped the volume.
2. COIN (BPS) #
- Opened: 03/30/2023
- Closed: 04/12/2023
- Total days: 13
- Premium received: $67 / contract
- Premium paid: $36 / contract
- Volume: 2
- Net Profit (after commissions): $57
Notes: Took my profit a bit early. COIN is super volatile, so I figured I might as well lock it in while I could. If I waited for my 50% limit to trigger, I would've only made another few bucks anyways.
3. AMZN (BCS) #
- Opened: 04/04/2023
- Closed: 04/12/2023
- Total days: 8
- Premium received: $78 / contract
- Premium paid: $38 / contract
- Volume: 2
- Net Profit (after commissions): $72
Notes: Opened this position just last week. Similar to COIN, closed it a tiny bit earlier, leaving a few bucks on the table. Otherwise, timing and entry seemed excellent...I guess you get lucky sometimes.
Other Notes and Thoughts #
Managed to lock in $160 this week. Feels pretty good to close your trades for profit. hahah.
Currently have 5 open positions right now (ATVI, GILD, GLD, ETSY, TSN). I'm a bit worried about a couple (GLD, ATVI), that I shouldn't have entered in the first place. May wipe out whatever profits I earned this week. I guess we'll find out soon!