Hi Guys,
The market is down this morning. Yesterday the market finished strong but since then it has come down and is below yesterday's low at the time I'm writing this.
I bought HSBC stock this morning in the low-priced account. That one came right off the watch list. I would have taken that trade in the main account if I had enough buying power, but that account is loaded with positions right now and the HSBC trade was a bit too heavy to squeeze in there. Tomorrow my VRTX stock position will reach its time limit in the main account, and that will free up some more buying power.
I also took on an HSBC options trade in the extra options account. It's a naked put. The option spread was expensive, so I opted for my first naked put trade. I simply sold the 36 strike put with a February 25 expiration. Notice that for this type of option trade, I do have a stoploss trigger in place.
I have a number of options positions that are reaching their time limits today. I will be closing them at the end of trading today if they don't reach their profit targets first. As always, you can close the positions any time you want. I like to wait until the end of the day to stay in lock step with the back-tested approach I used for options.
If you have any questions or feedback, I'd love to hear from you.