I've completed a full position on SQ with about $11K in that position. I also added PVH Jun 160 calls with earnings due out after hours. Looking forward to that move too. Other than those two, just holding onto LULU calls and ADSK puts.
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My trades
- Thread starter optionsinvestor
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I've added to PVH this morning. I still believe in the strong report last night where Q1 beat and Q2 guidance was above estimates. FY being inline did let some of the air out, but I think PVH's fundamentals are still very strong, especially compared to most of the other retailers. There seems to be a divergence among retail stocks, and we are looking at the weak retail stocks getting weaker while the strong retail stocks are pushing higher. Other than that, there's the LULU drop this morning causing a bit of a headache.
Well, I thought about using oil as a place to put about $10,000, but I've settled on NVDA using the Jul 255 calls and Aug 260 calls. I'm looking for a breakout from NVDA's cup with handle base and a steady rally to about 20% above $260 by the August option expiration date. I've also added ULTA weekly $260 calls today setting up on an ULTA earnings play. I am still holding PVH calls and have those LULU calls for an earnings setup tonight too.
Hey Mr. OI....Do you rent out that crystal ball for gosh sakes!?Well, I thought about using oil as a place to put about $10,000, but I've settled on NVDA using the Jul 255 calls and Aug 260 calls. I'm looking for a breakout from NVDA's cup with handle base and a steady rally to about 20% above $260 by the August option expiration date. I've also added ULTA weekly $260 calls today setting up on an ULTA earnings play. I am still holding PVH calls and have those LULU calls for an earnings setup tonight too.
I mean I follow this journal and holy f bro...PVH closed at $160 today (up $4.50) after being sold off last night on their report.
And LULU killed it tonight. Its up almost $7.
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Hey Mr. OI....Do you rent out that crystal ball for gosh sakes!?
I mean I follow this journal and holy f bro...PVH closed at $160 today (up $4.50) after being sold off last night on their report.
And LULU killed it tonight. Its up almost $7.
Thanks, but LULU was all you and Haj, I just put some skin in that game. The only thing that kept me in were some of the strong retail earning reports. Just of the top of my head, M and TIF both rallied higher on better results, and like you said PVH popped up by 4.5 on a solid guidance. You can see the separation in retail stocks where the high end market is doing well while the low end market is taking a hit. I'd consider LULU to be more towards the high end market. I mean you're not going to find $100 yoga pants at walmart. I'm surprised you didn't get in on the long side of LULU too.
ULTA looks bad this morning though, so I'm taking about a -1000 hit on that. Hopefully I can make it back on LULU calls and call it even.
For the week, it looks like only 2 closed trades. I locked in profits on LULU jun 105 calls for +3725 and the loss on ULTA was -802. My gains for this week is about +2922. I still have those LULU Jul 110 calls and I'll hold onto to those until July. Also have that full position on NVDA using the Jul 255 calls and Aug 260 calls. My other positions still include SQ Jul 55 calls, the PVH Jun 260 call on earnings and that momentum on ADSK Jun 135 puts. SQ and NVDA position size are just under $10k each and that's where I will park some of the profits through this Summer. Hopefully everyone else is also having a solid week. There were some volatility, but if you put this week on a weekly chart, you'd see nothing out of the ordinary.
I've started a new position to park another $10K. I'm using AAPL Jul 185 calls. This will be my third 10K position, although they are actually below 10K to be exact, but close enough. With LULU continuing higher and SQ just pushing to $60, my account is holding at $105K now. I do have above $35K in play though so a crash will pull be down a bit, but today is the first time the account has pushed above $100k. With AAPL in play, I'll have 3 big position where I plan to hold it through this rally and see how they all play out. I'm setting up to ease off trading for the Summer as June is now here.
I've started a new position to park another $10K. I'm using AAPL Jul 185 calls. This will be my third 10K position, although they are actually below 10K to be exact, but close enough. With LULU continuing higher and SQ just pushing to $60, my account is holding at $105K now. I do have above $35K in play though so a crash will pull be down a bit, but today is the first time the account has pushed above $100k. With AAPL in play, I'll have 3 big position where I plan to hold it through this rally and see how they all play out. I'm setting up to ease off trading for the Summer as June is now here.
This is one of the best journals this site has ever had.
Thanks
Thanks newwurldmn, One thing I've learned and continue to learn in my own journal is to let winners run. I've let my winners run much longer than I used to, but by having this journal I can see that I don't let them run long enough. I'm to used to short term trades where I hold trades for no more than 2 days. I just hope others can see my mistakes and adjust to them too. One other thing I have changed of the course of this year is to increase my position size if my conviction towards a certain trade is strong.
As for the week, I only closed those two trades mentioned earlier. Everything is still in play including the AAPL Jul 185 calls I opened today. The unrealized gain/loss is at +5758 with about $35K in play. This is where I'm going to let them run a bit longer than I'm used to.
This is one of the best journals this site has ever had.
Thanks newwurldmn, One thing I've learned and continue to learn in my own journal is to let winners run. I've let my winners run much longer than I used to, but by having this journal I can see that I don't let them run long enough. I'm to used to short term trades where I hold trades for no more than 2 days. I just hope others can see my mistakes and adjust to them too. One other thing I have changed of the course of this year is to increase my position size if my conviction towards a certain trade is strong.
As for the week, I only closed those two trades mentioned earlier. Everything is still in play including the AAPL Jul 185 calls I opened today. The unrealized gain/loss is at +5758 with about $35K in play. This is where I'm going to let them run a bit longer than I'm used to.
People keep asking: how much capital you need to trade for a living?
You provide them with the answer: If you are really good enough, $2000 is what you need to start with, after 6 months, then you can start make a living by trading.
I think lots of people are going to be very mad at you, because you shatter all what they believe, advocate and preach; and lots of people are going to be very mad with themselves because you make them feel miserable after following/reading your journal: a lot of them thought they are smarter enough or work hard enough. On the other hand, your journal should inspire some people and encourage them to explore more deeply and extensively and come up with their own strategies.
Wonderful journal!
You provide them with the answer: If you are really good enough, $2000 is what you need to start with, after 6 months, then you can start make a living by trading.
I think lots of people are going to be very mad at you, because you shatter all what they believe, advocate and preach; and lots of people are going to be very mad with themselves because you make them feel miserable after following/reading your journal: a lot of them thought they are smarter enough or work hard enough. On the other hand, your journal should inspire some people and encourage them to explore more deeply and extensively and come up with their own strategies.
Wonderful journal!