Wednesday, October 21, 2015

Set to expire: Oct 23, 2015

Yes, I'm still around.  No, I have not been updating my trades every week or every single trade I make on Twitter.  October would have been a profitable month, but I screwed up with just one-two trades.
1) Lost $500 on $YUM short put @ $75.00
2) Lost $200 on $SPY long put @ $197.50

It is what it is.  I'll survive another week.  

OptionAccounts (Position)
AXP 23OCT2015 74.5 P(1)
GILD 23OCT2015 98 P(-1)
KMI 23OCT2015 30 P(-1)
SWKS 23OCT2015 74 P(-1)
V 23OCT2015 65 P(-1)

All of these trades I've put on in the last few days, except for Visa.  Selling PUTS, if all goes according to plan, I will pocket $110.36 that I have already collected.  All of them seem to be OTM, but I've been screwed before.  So this may be the last of the PUTS I will sell until I come up with a steady game plan. 

$AXP released their earnings after closing today.  I bought the PUT a couple days ago for 35c.  I risked $35 + commission to watch $AXP burn.  I will be looking to close my position early tomorrow for a pretty coin I hope.  The reason for my trade is American Express lost a big retailer ($COST) to $MA.  It is not accepted widely by all retailers... 

Lately, other's have been questioning the way I trade as I've had troubles with a few big names such as $WMT, $YUM, $NFLX.  This is causing me to re-evaluate the way I trade options and the risks I have taken on.  I usually sell PUTs that are very out of the money (OTM) to avoid assignment of the shares at my strike prices.  

The market made a sharp turn on August 21st.. and some stocks have threw up on me literally.  I am very much in recovery mode still.  

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