Hey Guys,
Yesterday after I emailed, the market tanked even further. It turned into one of those big bright red bars. At one point the MES futures (which are tied to the S&P 500) were down 200 points from where they opened.
I took a few more losses during that meltdown (PG, DG, and LX). At this point, I don't have a lot of positions open so I don't have a lot of risk exposure. The market is zigzagging all over the place, and whichever direction it goes won't have a tremendous impact on my account value at the moment.
That said, I did pick up some new positions today. I bought UAL and GNTX in the low-priced account. And yesterday I bought DAL (stock in the main account and options in the extra options account).
That DAL option is the first one in the new format. You'll notice that it's a simple option (I bought the 38.50 strike call option). And the profit target and stoploss are for the option itself (I bought the option for 3.74 and I set the profit target at 6.13 and the stoploss at 0.63). I was able to use the standard OCO bracket to set up my exits, just like I do with stocks. This video shows how I do it.
If you have any questions or feedback, I'd love to hear from you.