JP's options journal
- Thread starter jamespond
- Start date
Sold the other half @ $0.95 (stock price was ~74.09), which makes the average sell price 1.05
P/L on this trade +52%
Although this was not a bad trade, I'm not too happy with my timing on exit. I gave way too much back on this one.
With ex-dividend tomorrow, the trade might have slipped into negative territory. Not acceptable after a very good profit.
JP
So for the indexes this week:
The weekly graph is in a very strong uptrend that could continue.
The daily is grinding up on the ema's. We had last Wednesday a doji, followed by a bit of weekness the days after, but nothing too bad really happened.
I would expect at least a double top or something similar before before starting to look at the downside again.
My play: I find this a "too late to long to early to short" kinda thing right now.
If I can catch a good entry on the indexes I might take a long targetting the previous high and then see what happens. Otherwise I stay flat (on the indexes at least).
JP
Buying MO anyway.
MO - long 50 Apr18'19 CALL @1.29 (stock price was ~49.33)
I still have this too late to buy too soon to sell feeling, so currently not putting much weight in the market. So account mostly remains cash.
But as long as it keeps going up, trying to pick a piece from that.
JP
MO - long 50 Apr18'19 CALL @1.29 (stock price was ~49.33)
I still have this too late to buy too soon to sell feeling, so currently not putting much weight in the market. So account mostly remains cash.
But as long as it keeps going up, trying to pick a piece from that.
JP
Weekly update:
No double top on the daily or anything even remotely looking like that. Very strong weekly bar that kept steaming up.
So not much has changed in my view.
I still think this is a "too late to long to early to short" kinda thing.
This long run is getting very extended, probably needs to breathe a bit to cool down.
But as long as there is no sign of weakness, focus remains on longs.
Current positions are MO & MS.
JP
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 ongoing.
I would have preferred the Short AMX. It's always nice to have a certain long/short balance into this kind of overnight positions.
JP
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 marketvalue of $50 billion. (with a few exceptions). Mainly to assure reasonable spreads and liquidity.
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 that, so might close it before the end of this week.
JP