JamesSierra Journal

Discussion in 'Journals' started by JamesSierra, Oct 27, 2021.

  1. Overnight


    Trust me, the indices are going to tumble, because I went long in them tonight. Happens every time. Your short exposure is safe.
    #21     Nov 7, 2021
  2. Before the open.

    11 9 1.png
    #22     Nov 8, 2021
  3. 11 8 support resistance.png
    #23     Nov 8, 2021
  4. Busy trading day, ended up with a profit of $24.89 bringing account profit total to $1369.39
    I apologize for this mess but I'm approved for day trading now!
    Here are the trades I did, seven in total. I will explain each trade in posts to come.
    11 8 1.png
    #24     Nov 8, 2021
  5. Trade #1: Pretty basic. Sell the six puts I bought before the weekend for 0.91
    Time value went poof. Reminded me I don't want to hold long options over a weekend.
    Not going to do a trade like this again. Time value can disappear too fast.
    10:10 AM Sold 6 @ 0.91- Bought 6 @ 2.20 - = Loss of $774

    Bought these expecting a crash on weekend that never happened.
    Selling now as these expire today so time value will go to zero.
    Also market been open awhile and seeing sideways day in tight range.
    trade 1.png
    #25     Nov 8, 2021
  6. Trade #2 and #3: These are day trades. I would never hold these positions overnight.
    Shorting options, which means I sell to open, not buy to open. Sell to open, buy to close.
    Got 2.8 for the four calls, 2.2 for the four puts. Using the Nov 10's, not the 8's.
    trade 2 3.png
    Even though I'm using the Nov 10's, my reason is the Nov's 8's as those options can influence stock movement on expiration day. The volume in those box areas was 203,225( picture below) Equally important is the open interest but that data is not all here as it's expiration day and positions are being closed. Basically imagine max outstanding volume/open interest is at 398 for an example in the option chain. Meaning max profit would be around 398 for majority of option seller positions. Any option sold at 398 expires worthless if stock price ends up there.
    #26     Nov 8, 2021
  7. Trade #4: Buy to close the short puts. Sell @ 2.2 Buy @ 1.54 +$264
    Trade #5. Expecting a sell off into the close back to 398 Buy six puts @ 1.59
    Trade #6, Buy to close the short calls. Sell @ 2.8 Buy @ 1.87 +$372
    Trade # 7. Sell the six puts @1.89 + $180
    Total account profit stands at $1369.39 (Added in todays commissions)
    #27     Nov 8, 2021
  8. trade 4.png
    #28     Nov 8, 2021
  9. trade 5.png
    #29     Nov 8, 2021
  10. trade 6.png
    #30     Nov 8, 2021