It was simply an epic trading day! I was in front of the computer for about 2 hrs to place trades today. I spent most of my day at the Breckenridge Ski and Ride School yearly trainers training. Somedays it is great to just get the trade alerts on my phone.
My largest positions are in HRB. I had a full allocation of 5% of my portfolio in 3 accts. Last week, I traded in and out of this calendar spread last week for a double. At that point I sold half of my position, only to buy it back later in the day for half of my gain. There was no further pop for last week or yesterday. However, today was the day the spread opened wide and doubled again. The original purchase was .17-.20, sold half @ .42, then bought back in between .25 and .33. Today sold half again between .45 and .50. It was awesome. All the accounts are up 6% on the day and 8% for the past two weeks.
USB – was also a nice mover this morning as I sold 3 units for .41 (originally purchased for .05), then repurchased 2 for .30. Excellent. I am currently holding 9 units.
INTU – exited 2 units of dec/jan 30p for .40 and .42. Yesterday the price broke below a support price. I used today’s rally to fully exit this position. Once the price breaks, I am out. This has been a nice little trade.
ORCL- accumulating a 20p calendar for an excellent price. I have 6 units filled, and I am picking up more for the right price. This trade offers a 4:1 reward to risk, with a high probability of success for a short term trade.
AIG – Exited the 50p calendar for .85. As the stock rallied, I was happy for a very quick overnight profit. I originally put this on to take advantage of the high Vol, and to have some delta negative. Today’s unwinding of USB and HRB, allowed me to feel easy about taking off this trade.
SPLS- quick exit of 1 unit of 20c calendar for .35. The underlying moved up sharply and the spread moved out. I didn’t want an ITM call spread so I took the quick profit.
It was a busy day with 23 trades in all. Not bad for putting these trades on prior to leaving for the day.
The market is due for a bounce, but I find it hard to believe that we are done with this downdraft.
I am ready to ski these tomorrow!
Wild day in trading, even though I wasn’t around. PEAK 8 and BRECKENRIDGE opens a week early December 7!!!