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I used to daytrade futures and there I would always put in a stop together with the entry order. But with the options plan, there is no hard stop in place. And there are a few reasons for that: I'm not always using (horizontal) levels were I can put a price on and then decide that it's breached...

Sold that one @1,15 (stock price was ~69,11) P/L on this position -37% Also long MMM 207.5 call Apr18'19 @ 4.00 (stock price was ~207.47) JP

Good trades are not the ones that make money but the ones were you follow the system. Classifying trades as good/bad whether they make $ or not after closure is just fooling yourself. To put this in perspective regarding the above NKE play: I played the reversal. Didn't work at the beginning...

Sold NKE @2.60 (stock price was ~83.71) P/L on this position +8% This position looked like a dead fish in the water for a while now. The results yesterday evening were the last thing to make this go down. Shouldn't there have been a dump today I would have sold it anyway. (likely with 50% loss...

ConocoPhillips (COP) - long 65 May17'19 PUT @1.82 (stock price was ~67.12) Open positions are GS (long) / NKE (short) GS is taking quite a beating last two days and starting to look ugly on daily and weekly graphs. JP

I use stochastics for almost everything. Trend determination (direction, strength, continuation / reversal) on different timeframes. Also entry, target and stop points. There are some issues (and opportunities too) to be careful with when using options just to trade stocks with some leverage...

Nike (NKE) - long 85 Apr18'19 PUT @2.39 (stock price was ~85.81) JP

Thx for your interest. I didn't trade options the last 3-4 months of 2018. But I did test this particular strategy earlier that year. So this journal will be the real ($) test. Also very important for me is the "profitability" vs "time spend on all this" ratio. JP

On the left Altria (MO) as posted on feb 21st - on the right, today's graph. Sold rest of MO @$6.15 (stock price was ~56.10) P/L on this position +240% Doing nothing and sitting on your hands. So easy and yet so hard at the same time. JP

GS - long 205 Apr18'19 CALL @2.80 (stock price was ~196.34) GS is moving sideways for almost two months now. I expect this to go higher within one week, max two weeks, moving above the consolidation zone. Otherwise the trade will be bogus for me. JP

Currently on my watchlist for longs: Goldman Sachs (GS) & IBM. Also Estee Lauder (EL) - but that seems not suitable for an option play (spread is rather big) My trading decisions are (almost) entirely TA/PA driven. JP

weekly: I've used the S&P this time instead of the DJ, but the result is more or less the same. A big red bar last week, the first one in a while. Notice how it stopped on the 2810 area where october & november also bumped into. For me this is just a break in the upmove for now, not a...

MO reached its initial target. But since it's going up in an otherwise red day so far, I think I'll hold on to it a bit longer. JP

I was away for a couple of days so the promised reflection on the bumpy start is a bit later. The chart above shows the first trade of the journal - Exxon Mobil (XOM) On the left side the stock price chart - on the right the March15 '19 75 Call option price chart. I believe it's good practice...

Monthly P/L: +13.01% (on account) Some good things happened, some less good things happened, and no really bad things happenend. The latter is perhaps the most important thing. A bit of an explosive and bumpy start perhaps, but I'll post some reflections on that later. Open position: Altria...

Sold MS @0.87 (stock price was ~42.03). After two weeks, this isn't exactly working out like expected. So it has to go. P/L on this trade: -7%

Sold half of the MO position @2.73 (stock price was ~52.10) Target still remains 54-55 ish. Might stall here or even go down a bit. So with selling half @110% profit, the other half becomes a free ride. JP

Weekly Update: Ninth green bar in a row on the weekly, amazing recovery really. Nothing new to tell - still think this is a "too late to long to early to short" kinda thing. Current positions: MO & MS. MO: looking for 54-55 ish area to take (partial) profit. MS: Time is running out a bit on...

Altria (MO) finally broke out of its sideways consolidation yesterday. So hoping for that move to extend. I'm deleting AMX from my scanning list, there's not enough liquidity to study that further. One of the criteria that I use for a stock to be in that list is that it must have at least a...

On my SHORT watchlist: AMX seems ready to go down some more. Maybe even a full $ or more. LONG watchlist: AMZN seems at an interesting place to start looking 1775-ish. ENB: looking for 38 and higher. Due to lack of time I will not be able to look futher into this while the US session is...