1) Lost $500 on $YUM short put @ $75.00
2) Lost $200 on $SPY long put @ $197.50
2) Lost $200 on $SPY long put @ $197.50
It is what it is. I'll survive another week.
Option | Accounts (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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