Hi Guys,
First the correction: for the ABC options I bought yesterday, I just updated my "close by" date to be this coming Thursday, August 12. The option expires on Friday, but that overlaps with an ex-dividend date, so I'm going to close my position the day before in order to avoid any of the risks associated with holding options through the ex-dividend date.
I picked up some FNV stock this morning. They're scheduled to release earnings tomorrow after the market closes, which is likely to bring some volatile price movement. I also bought stock for CPRT. I haven't yet made any options trades today.
My TTD position closed for a profit this morning, and my KO options are showing signs of life. But other than that, most of my positions are down right now. I have a lot of exposure in the healthcare and real estate fields at the moment, and both industries are down noticeably. In particular, my BSX options (from my extra options account) took an absolute nosedive this morning. So overall, my account is down a decent chunk from where it was hovering the last couple trading days.
And you know what: I'm ok with that. Not every day is a profit day and not every week is a profit week. I've had a lot of success recently (18-4 on my closed stock trades in the last few weeks and 7 profitable weeks in a row). But that doesn't mean every week is like that. In fact back tests show that around 43% of stock trades may have resulted in a loss. That means we can expect plenty of down days like this. When I think of how I *want* to respond to days like this, the answer is that I want to stay cool, keep the big picture in mind, and give these trades space follow the back-tested approach (even if that means eventually taking losses).
If you have any questions or feedback, I'd love to hear from you.