Happy Monday everyone!
AMZN: #PieTrades sold May 18 1600 put for $11.15 (last week received full profit of $1071 on a CC)
CVX: Daddy loves his dividends. Bought him some shares for 5/17 $1.12 div this week (@130.23) sold May 25 133 call for .41, will watch to be sure I stay out of the danger zone on the short call w/ div this week. Playing oil shares for div’s has bit me in the past, but he just really really loves dividends, much as I try to explain reality to him.
TSLA: Added @fuzzballl ‘s trade to balance out the short I have on it (Jan 2020 290/390 bull spread with June 1 310 short call). So much drama envelopes this stock, having both sides on sounds good to me. TSLA is like that famous “Daughter/Sister/Daughter/Sister” scene from Chinatown. $100, no $500, no $100, no $500. 🙂
BABA: 1×2 spreads for this week closed for 70-95% profit, added naked puts for friday 197.5 strike for 1.91 cr for #pietrades assignment
GRUB: A top IBD stock, sold puts for Friday 101 strike @ 1.50 cr for #pietrades assignment
MU: Added a new Fuzzy: Jan 19 55/55/47 @3.69, May 18 55.5 call @
SEDG: IBD50 new #1, closed ITM naked puts from last week for 82% profit. It only has monthlies.
SPY: A bunch of 1×2 put spreads closed at the open for 70-80% profit. Added in a few Wed naked puts for #Pie assignment. 273-274 strikes for .71-1.09.
That’s about it for today
Here’s an early expiration report. I’ve been thinking about @hcgdavis Chris’s #PieTrades ever since his first post. I never really got serious about them, despite being intrigued. I finally decided in the last few weeks that I absolutely needed to build a portfolio strategy and not just a trading strategy. What better way than his? Of course I probably don’t follow the rules straight down the line, but here’s a report for some Pie-like trades this week:
1. AMZN: On Wednesday when the stock was at 1600, I purchased 100 shares and sold ATM calls for $11.35. Assuming AMZN closes above 1600 today shares will be called away for total profit of $1071 in 3 days. I will sell an ATM put for next Friday at the close today. AMZN is inching down and might be shooting for a 1600 pin….it would be fun if the shares aren’t called and I can roll calls into next week.
2. CVX: Nice dividend next week, so I sold ITM puts last night for assignment. I sold $129 strike for .76, closed them this morning for 87% profit. With next week being div week, I will sell puts before Ex-Div to be virtually paid the dividend immediately.
3. IBM: I did the same div play mentioned above for CVX this week for IBM, sold the put priced with added div premium, could have taken 100% profit, but closed it yesterday for 80% profit. I already have 100 shares with calls sold for next week. The income stream on IBM from #Pie has completely covered the post-earnings decline in underlying.
4. NFLX: This will be my first assignment in a long time. Earlier this week I sold 1 $330 put for $3.10. It’s dancing in and out of profit today, but I’d like to take the shares and sell a juicy call for next week.
5. NVDA: I sold ITM puts at the open this morning and later covered them for 83% profit. I sold 257.5pfor next week @ 4.34.
6. SPY: I sold ITM (272) puts last night for either a scalp or assignment today. They were covered at 50% profit.
7. CRM: I sold ITM puts yesterday ($131) for assignment, I will seek 70% profit on those today or assignment.
8. MA: I sold several puts on MA this week and took 70% profit, but I’ve got 190 (@.94) and 192.5 (@1.60) lined up for next Friday.
9. I’ve got 1×2 spreads on for next week on BABA and LMT. In a choppier market I like the idea of 1×2’s for a wider downside range. But in an uptrend, straight naked puts are better for higher premium collection.
It’s just in my blood to cover these puts at a 70%+ profit level vs. taking the shares, even when I know it may be more lucrative to get the shares and sell the call side. I’m progressing! BTW I’ve started using IBD scores to find my #Pie candidates. Of all the stocks listed above probably IBM, CVX, LMT are the weakest in regards to IBD scoring.
$MU #ShortPuts #PIE Trade Sold to open 1 Feb 23rd 45 Put for 0.50. MU has earnings on 3/22 After market close at 4:30 EST. I will take assignment here and sell calls until the 16th and either be called away or sell the stock before earnings. If not assigned sell another Put.
$BAC #PIE Trade Morning all. I worked on PIE trades over the weekend. Thanks #hcgavis This morning I opened one with BAC. 100 shares BAC, 1 Mar 02nd 32.50 Call @ a basis of 31.75. My initial entry stop is set at 30.80 or 3% close to the 50dma. Selling the ITM call would have been best here.
How Winning Traders Rebound, make a Come Back, and Never Quit
1. They accept losing trades quickly but it does not define them, they learn and try again. The next trade will be more wise than the last one.
2. They compartmentalize emotions by not blaming themselves but understanding the historical expectancy of their systems returns.
3. They have a bias toward action by constantly doing things that move them closer to their goal of being a rich trader. (Homework, chart study, reading, being mentored, back testing, etc. )
4. They change their minds sometimes, they know when to stop doing something that does not work and move in the direction of trading success through new lessons. They learn what type of trading is right for them.
5. They prepare for things to go wrong through risk management and position sizing instead of just going naively toward their goals they are ready to make adjustments as needed.
6. They’re comfortable with discomfort, they will accept losses and draw downs in their method, they are willing to pay tuition to the markets to get to where they want to be.
7. They’re willing to wait, they patiently improve each day setting themselves up for those winning trades that will be very profitable in the future.
8. They have trading heroes that inspire them to be better than they are now and give them the hope of achieving their dreams.
9. They have more than passion they are on a mission, their desire for success gives them the drive to not quit until they win.
10. They know only time separates them from their goals of success in the markets.