Stocks Are Stuck In The Mud

September 10, 2021

Dear Trader

It looked like the bulls were rejuvenated after a long holiday weekend…

...But things turned sour the last two trading sessions. 

The major indices finished the week on the lows, but they didn’t exceed 1% decline in today's session. 

Luckily, we were able to put another winning trade on the board, but we do have red on the screen with our other positions. 

This lackluster week has affected our positions with decay the last several days with a few of them expiring next week. 

Typically, stocks drift higher into monthly options expiration week - so let’s see how things play out. 

Now, the CBOE Volatility Index (VIX), aka the “fear” index, is at 20.95 above our key 15 level.

We did see the VIX shot higher by 20%, which means fear has picked up .

We’re still in a bullish regime and we’ve seen fear revert back the following day. 

But I still think things will get very interesting in the coming months, buckle up! 

Now let’s talk shop.

Portfolio Update

On Monday:

Market closed. 

On Tuesday:

Sell-to-close the AAPL September 17, 2021, $155/$160 call spread

On Wednesday:

Buy-to-open the DIDI September 24, 2021, $9.50/$11.50 call spread

On Thursday:

No action.

On Friday:

No action.

Right now, we’re holding:

  • FCX September 17, 2021, $38/$41 call spread
  • SNAP September 17, 2021, $80/$90 call spread
  • YELL October 15, 2021, $7.50/$10 call spread
  • JNPR September 17, 2021, $29/$31 call spread
  • ACM December 17, 2021, $70/$75 call spread
  • DIDI September 24, 2021, $9.50/$11.50 call spread

Joshua’s Journal

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.

AAPL September 17, 2021, $155/$160 call spread

Outcome: Exited for a 77% gain.

Notes: We executed this perfectly. We sold the top and shares sold off, which is why we must follow the system. 

Now it’s time to get my 7 mile run in before I head to the pool with a fresh jalapeno margarita - TGIF! 

Have a great weekend and talk with you on Monday.

To your wealth, freedom, and options!

Joshua M. Belanger

Joshua M. Belanger
Joshua Belanger is founder of CounterVest and the editor of Hot Money Trader. He has been providing ordinary investors blockbuster returns since 2008. In 2018, the average return of Hot Money Trader beat the markets by over 15%