I had a busier options expiration Friday yesterday than I’ve had in a long time. I had four options make it all the way to expiration and all four went in my favor. Two gave me a full profit and two gave me a partial profit. I’ve been rolling a lot of my options before expiration over the past year, but short-term volatility is so high right now, I would’ve left a lot of time value on the table if I had rolled early, even as late as Thursday afternoon. My first trade was the easiest. I had one IWM September $158 covered call that was far enough out of the money that I was fairly certain it wouldn’t be assigned, so … [Read More...]
Small Caps Inch Out Gains; Broader Marker Lower
A mixed day on Wall Street on Monday. Good to see Small Caps lead the market with gains, but with NYSE Volume higher the S&P 500 notched a distribution day. NASDAQ volume was lower on the session. Certainly, after the strikes on Saudi oil facilities the damage to the market could have been much worse. […] [Read More...]
Trade War and Recession are in Focus
Friday saw stocks rise across the board led by the NASDAQ 100. Yes, you guessed it right small caps as measured by the Russell 2000 lagged the broader market rising less than 1% on the session. Volume eased across the board indicating institutions were not in a rush to support stocks. The lack of volume […] [Read More...]
Sold QQQ September Naked Put
I delayed replacing my expired MSFT position from May and then I blinked and we’re at the end of July all of the sudden. Yesterday afternoon, I entered a limit order for a new QQQ naked put and wasn’t sure I wanted to add another 100 shares on top of the 100 I already have, so I set my ask price about $0.45 above the ask price at the time. I figured if my order hit, at least it would be on a dip in QQQ and I’d make a little extra instead of rushing into chasing an order. While QQQ was trading at $193.16 at the open, my order hit and I sold one QQQ September $192 naked put for $3.85 and received $384.27 after … [Read More...]
Utilities Continue to Push Higher; Broader Market ends Lower
Volume ended the day lower across the board as the broader market ended lower. Small caps led the decline. Utilities continue to be a safe place for investors to hide as XLU continues to hit new highs. XLRE is not far behind. Worries over impeachment, trade deals, and recession persist amongst those who pay attention […] [Read More...]