Hey Guys,
The market is down a touch this morning, but is still green for the week overall after the last two days made solid gains.
I had multiple positions close today. My stock position for SMCI reached its profit target. My stock positions for ALC and TSCO reached their time limits, and both landed in the red.
In my options account, my DOCU position reached its profit target. And my SE position reached its time limit and landed a profit. What's cool about the SE trade is that the underlying stock price went from roughly $116 to $113.50 over the course of my option trade, yet my option sold for close to its profit target. It's one of the beauties of the particular spreads I trade: the stock price can go down some and I might still profit.
Overall, my options account went up 3.9% in value this week. That account has 25 wins and 3 losses over the last six weeks.
I took on some new trades today. In the stocks account, I bought a position for WIX as well as another one for CAG. In the options account, I picked up positions for MA and another for CAG. The reason I bought more CAG positions today is that it qualified for my double down trading strategy. Even though you can see two separate trades in each account for CAG, I treat each trade independently. So I don't merge them together or anything like that. Each has its own exit criteria, so I treat them separately as if one has nothing to do with the other even though they have the same ticker symbol.
The market will be closed on Monday for Labor Day. We'll be back in action on Tuesday.
Eric