Had a come to Jesus moment at about 2 in the morning. I realized I needed to consider dumping a lot of positions. My account size has not budged much in the last couple months… money I’ve made in options has been sucked away by too many crappy stock positions. Other than AAPL and SQ, stock has not been good to me, all #PieTrades I have tried, rather Earnings repair or from scratch, have been huge dogs.
So I just dumped almost all stock positions.
Winners: $AAPL, $SQ
Losers: $FB, $BABA, $OLED, $MU, $OLED, $YY, $AMAT
Fortunately, other than $FB, the losers were all only 100 shares. AAPL and SQ were both 200. My FB losses were minimal since I have sold covered calls for a year on 100 shares, getting that lot down to 105.00 cost average. I then had more shares added in August earnings dump.
Now I can focus on strategies that I have more control over, rather than the whims of stock prices.
I’m still in options positions in $BOIL, $GUSH, $DUST. Also long calls in $PYPL (Jan 100’s, not doing well). Sticking with pre-earnings trades in $CAT, $JPM, and $MSFT. Long stock in $PVTL, since its so cheap. And a few #VXXGame short calls, and my long running long puts, the $VXX Jan 20 puts, which have lost so much potential in this volatile year.
Dumped underwater short puts in $RH. That symbol has simply killed me, I must quit it!
Also, closed $SPX Oct 12th 2825/2850/2960/2985 condor for breakeven at 4.15.
I’m looking to exit the #SuperChargers since short strikes have been breached, in $AMZN and $REGN.
Options Bistro 