YIKES! CRAZY END TO THE WEEK
The week started out just fine, but then ended in a downward spiral! Mostly fueled by the news on Wednesday. But that wasn’t all, it appears the market is possibly rolling over. Not the Nasdaq, but more so the S&P500. Take a look at the following chart to see what I mean.
From the looks above, the S&P 500 is sitting right on the 50EMA and the top of the Ichimoku Cloud. I think if it drops below the 50EMA and into the cloud, we may end up testing the 200EMA. Let’s face it, we haven’t had a nice 10% pull back in a long long time. It actually would be good for the market.
GOING INTO FED MEETING
I knew this meeting was going to be different, how, I don’t know. I just knew. So, just prior to the meeting on Wednesday afternoon, I ended up taking a few things off to free up buying power. As a result, I took the following 3 profits about 30 minutes prior to the FED results.
BUYING POWER BURNING A HOLE
With the profits I took on Wednesday, I had extra buying power available that figured I’d put back to use. Although the market looked a bit weak on Thursday, I still put a few positions on. Finally, by the time Friday came around, I really felt the urge to take advantage of the added volatility and downward pressure.
If I didn’t see it for myself, I would of had no idea I put on 14 new positions Thursday and Friday. I put on about the same in new positions. Starting to build out July 30. Usually, if I take something off, I’ll put it right back on going out a few weeks. Ideally, 45 DTE.
PROFITS FOR THE WEEK
I finished the week with the following positions taken off in realized profit for total of $1,018. A great week to say the least.
Here are the key statistics for the week above. Keep in mind that some of the numbers are skewed by spreads that were taken off. Meaning, it may show lower win percentage or lower average PNL for this reason. To the right is the top positions taken off for profit. This week was $AMZN.
SETUP FOR JULY
With last week in the books, I really have built out July pretty good. I now have July 16, 23, and 30th built out.
Obviously as you can see, I took quite a bit of profits from July 16th already. As time passes, I hope to have a full 6 weeks built out with the soonest expiry being no less than about 10-14 days near.
That leaves me with current positions on. See below for all my current premium baking.
| Account Health | |
|---|---|
|
NetLiquidation
|
$268,184.27 |
|
MaintMarginReq |
$105,639.14 |
|
BuyingPower |
$1,011,761.96 |
|
BP Usage |
39.39% |
|
Short Premium |
$6,368.95 |
|
Long Premium |
$0.00 |
|
Unrealized PnL |
$-1,141.70 |
|
RealizedPnL |
$281.69 |
|
Option Positions |
34 |
|
Contracts Total |
49 |
HF
HF
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