Hey Guys,
The market took a breather since my last email. After such a big jump following the Fed announcement, that isn't a surprise. The S&P 500 is around 5,240 right now.
My UPS stock position hit its profit target yesterday. And aside from that, I had a bunch of other stock and option positions reach their time limits, which had a mixed bag of results.
But overall, this was a solid week. My main account went up 4.3% and my options account went up 9.1%.
That makes nine weeks in a row that my options account has generated a profit. What's interesting about this week is that it started out poorly with ABT taking that huge dive. It was not a promising start at all, but I stuck to the plan, and it paid off again. It doesn't always pay off, of course, so I'm savoring the success.
Also, since November 2022, my options account is up 214%. It's nice to see such solid profitability for a prolonged period. The compound position sizing approach I use has helped the growth. Hitting the profit target on a trade today generates a profit that is three times bigger than it was back at that time. That gives you an idea of how the compounding can cause the account value to really take off if you're trading profitably.
I took on some new trades today. I bought stock positions for AJG and OKTA in the main account. I bought options for OKTA in the options account.
If you have any questions or feedback, I'd love to hear from you.