Boom! Taking a moment for excessive celebration as this is the first pre-ER field goal of the season. lol.
Sold VALE Oct 26 16c @ .45 for target profit of 40%. Bot at avg price of .31
42% loss against max risk.
Updated from 60% to 42%. Reported inaccurately the first time.:-)
Adding opportunistically to BABA, EOG, LMT, SHOP, and VFC
Betting NFLX will stay between 300 and 400 after ER today.
BOT NFLX double calendar Oct19/Oct26 -342.5c/-342.5p/+342.5c/+342.5p @ 3.15
Pre-ER. Bot GPC Oct19 40 delta strangle 97c/94.5p @ 2.65 x1. GTC order to close @ 3.40 for 40% profit.
Although it pains me, I must step back from calling lophirs a safe trade. The max risk against potential reward is simply too high when volatility is elevated. So back to MamaCash basics for me.
Don’t risk more than 1% of account value on any single trade.
Map trades to my market mindset of long, choppy, or short. This year has really been a chop fest. Volatility tells it all.
NEVER assume that the markets can’t or won’t spike or drop to blow out your account.
I will survive but not especially proud of taking a big hit on my accounts after securing great profits for the year. I hope the rest of you are not learning the same lessons I am.:-) I will post when I finally close the trades I put on a couple weeks ago but for now, active management continues.
This has not been my finest hour with pre-earnings trades. 100% loss in both C and JPM. Cutting max position size in half for the rest of October.