We had a great week of trading.
Stocks hit new highs on an upbeat job report...
...We also locked in two real money winners for an overall gain of 114%.
Also our recent trades closed in the black with nice paper gains.
The last few months have been challenging in the market, but my account is at a new YTD high.
That’s why patience and consistency is critical to making money in the financial markets.
Now, let’s talk about the CBOE Volatility Index (VIX), aka the “fear” index, which closed at 16, which is one point above our key 15 level.
That means risk is on and the path of least resistance is higher
Now let’s talk shop.
Buy-to-open the TSLA Nov. 12, 2021, $1200/$1225 call spread
Buy-to-close the FB November 5, 2021, $325/$310 put spread
Buy-to-open the KO Dec. 3, 2021, $58 call
Sell-to-close the LYV Nov. 19, 2021, $105/$115 call spread
Right now, we’re holding:
- TROX December 17, 2021, $25/$30 call spread
- CCJ Dec. 17, 2021, $30/$36 call spread
- LVS Nov. 26, 2021, $41/$115 call spread
- KO Dec. 3, 2021, $58 call
- TSLA Nov. 12, 2021, $1200/$1225 call spread
This is my journal which is a debrief of every trade closed or expired to analyze what happened, why it happened and how it can be done better — like what the military uses after missions.
FB November 5, 2021, $325/$310 put spread
Outcome: 74% gain.
Notes: We executed flawlessly and closed it out for a nice gain.
LYV Nov. 19, 2021, $105/$115 call spread
Outcome: 28% gain.
Notes: We executed as we should’ve by closing it ahead of earnings. Earnings are a gamble, but it’s unfortunate to see the big move happen right after exiting the position.
Now it’s time to get my 7 mile run in before enjoying a fresh spicy margarita - TGIF!
Have a great weekend and talk with you on Monday.
To your wealth, freedom, and options!
Joshua M. Belanger