Not a great week, but survived to try again. Closed out three positions, buying back a put spread in $AAPL for a profit and a call spread in $TSLA for a profit.
I also closed out my call spread in $UVXY for a fairly significant loss. UVXY took off on the morning while I was short calls and I decided to cover them before things got worse. That didn't work out because the market turned back up (damn dip buyers) and I left a fair amount of money on the table.
Annoying, but those choices sometimes have to be made in order to protect the account.
I put on two new trades today, both times selling put spreads on big, volatile and liquid names.
On $CMG sold next week's $415 strike and bought the $395 for the same time period. About a $3.40 credit for that.
Same kind of trade on $TSLA, sold next week's 255, bought the $237.50 for a $3.50 credit. Risky, but both stocks severely dipped at the open today and recovered as the day went along.
I'm considering maybe taking a earlier profit (if I have one) rather than waiting until expiration. Sean McLaughlin takes his when he hits 50%, but that seems like too little to me.
Happy trading.
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