My trades

Well, looks like my bet on CSX should pay off tomorrow morning. I know it was a bit risky jumping into the CSX Jul 65 calls, but with my expectation of an 8-10% move and the calls at $1.04 I figure if I was right the payoff could be up to 3x.

Incredible day today, I was able to lock in +5300 in NFLX profits pushing my gains this week to +9320. I struggled the first 2 weeks with a range between $14k-$18k, but last week and into the beginning of this week I have been able to push it up to $35.7k at the close. I'm heavy in GOOGL ($6.2k initial risk but now at $11.2k) and ADBE Aug 255 calls ($5.1k initial risk and now at $8.8k). I was wrong on my initial expectation of NFLX this morning. I was looking for a drop to $315, that's where there was congestion last quarter, but being wrong initially doesn't mean I should stay away from the correct trade. I adjusted and jumped right into (fairly late) the NFLX 357.5 calls then rolled up to the 370 calls, and now I'm holding the 400 calls (at an unrealized loss of -1,295 at the close).

I'll be looking at IBM, EBAY, and URI tomorrow and I still want to see if I can grab something on SKX for an earning trade. I know there's MSFT on Thursday afternoon too, so it could get interesting. Next week is much more hectic with many of the SP500 stocks reporting earnings.
 
I took the loss on those NFLX 400 calls. I figure I didn't want to lose all of my profits from the CSX jul 65 calls that I closed out this morning. Also took the time to close out GOOGL calls too leaving just 1 GOOGL Jul 27 $1200 call left where I'll probably hold it through earnings next week and price action looks good.

Other than that one call, I only have ADBE Aug 255 calls left. Overall, I locked in a net gain just over +$4500 today bringing total to $14.2k for the week.

I like EBAY, URI, DPZ, AXP, and IBM earnings for tonight.

I'm going to add AXP now and I'll look to jump into EBAY a bit later with the market more on the upside today. I also like DPZ calls, but will hold until end of day to decide.
 
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I've averaged into AXP 202 calls at 2.02 and EBAY 38 puts at 1.16. Also started adding DPZ Jul 290 calls. Going to play DPZ straight too. I don't like IBM and URI's price action and potential reversals, so I'm not going to play puts on those.
 
OI, on this micro trend chart, the 400ma (gray line) has a convergence with Pivot Support Line Number 2 (green line). If price drops to convergence, good chance of decent bounce.



7_19_18.png
 
I'm still reading the thread but have a quick question regarding the beginning of this challenge: if you started with 2K I guess this was limiting you quite a lot at the start due to PDT and settlement delay ?
 
Just saw your chart, checked the sp500 and it is sitting at 2802 lol.

But I closed out all 3 of my earning trades, took losses on AXP and DPZ calls at -1127 and -816. EBAY saved me though, as shares just sold off hard this morning. Yesterday afternoon I was hoping for 36.50, but I got much more under $35 and locked in profits of +2883 on the trade. Overall, not exactly what I was looking for, but I'll take it. Just holding ADBE and 1 GOOGL left.

Of course, because I know I'm up about 900 or so on those 3 earning trades, I'm looking for more earning trades again. I'm looking at MSFT and SKX today.
 
SumZero said:
I'm still reading the thread but have a quick question regarding the beginning of this challenge: if you started with 2K I guess this was limiting you quite a lot at the start due to PDT and settlement delay ?
More...

You can open a margin account with $2000 at some brokers and have no settlement delay. The only issue would be to keep your round trip day trades limited to no more than 3 every 5 trading days and you'll be fine.

If you make 4 day trades per 5 trading accounts then you'll be flagged, but you can call your broker and they'll reset it one time for you too. So technically, you can make up to 7 day trades before really getting screwed.
 
The question was not for myself, personally, but more to know if this had constrained your approach, knowing that you started from a really low level (2K). I forgot that even accounts of 2K can be margined and, thus, skip the settlement.
So you just had to be careful about PDT, at least until you reached 25K. Thanks for the answer.
 
I bought SPY AUG 283 calls (expire 8/17) at the convergence point of the rising 400ma (grey line) and Pivot Support 2 (green line).
Lets see how if we can repeat twice in a week.

7_19.png
 
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