My trades

[optionsinvestor]

What an ending to BABA. I was trying to lower my risk heading into the close, but I ended up with more risk in the market than I started with. That BABA really moved in the end there. I am still looking for $185 to finish the week. I think it runs back to last week's post earning high. As for JPM, I finally got a chance at lower prices towards the end of the day. I'm looking to hold that one a bit longer than this week. I like JPM's chart right here where it has a chance to breakout of that flat base and run up to at least $120 in early September. As for NVDA, I thought we make this push through $265 and then momentum just takes over. That was a powerful move today in NVDA, but we are getting close to short term overbought levels. That 14-day RSI is just touching 70 now. I think I have another day or 2 at most on this trade.

The monster move I've been waiting on all day was AMZN. I had been averaging down on that one last week. Started with 2 calls and ended with 12 when I was done averaging down and I still ended with an avg price of $14.84. That end of day move though, what a nice way to end it. I started AMZN with -3300 and ended the day at +$3800. The sector that was weaker today was retail, and I can understand that with 52-week to record highs hit last week on most retail stocks. Those positions are September calls, so I kept most and will hold them through the Labor day holiday.

 

[optionsinvestor]

Indexes looking strong which I think is a good sign for the overall stockmarket. Hopefully, more upside to our positions!

If the SP500 is doing this 3-4 momentum run, then we'll have another 1-2 days left. I don't know if there's enough to push through 2900 and hold. That'll be my only issue. I thought from 2875 to 2900 would take a week or slow, but I guess the SP500 decided it only needed 1 day. Every time the SP500 has traded 100pts above its 50-day the last couple of times, it has reversed. We'll see if this happens again. I think end of week would be a good spot to lock in most of the gains.

 

[smallfil]

If the SP500 is doing this 3-4 momentum run, then we'll have another 1-2 days left. I don't know if there's enough to push through 2900 and hold. That'll be my only issue. I thought from 2875 to 2900 would take a week or slow, but I guess the SP500 decided it only needed 1 day. Every time the SP500 has traded 100pts above its 50-day the last couple of times, it has reversed. We'll see if this happens again. I think end of week would be a good spot to lock in most of the gains.

Indexes gapping up today. Probably, will continue its trend upwards for a couple more days. Trade agreement with Mexico today announced by President Trump could serve as catalyst. And Federal Reserve announcing future rate hikes supports the economy being robust and growing!

 

[optionsinvestor]

First thing I did this morning was locking in most of AMZN's profits. I went down from 12 to 3 calls now. That gave me a net gain of +$9300 so far on the AMZN Aug 31 $1920 calls. I'll keep the last 3 on a tight leash. I was also stopped out of NFLX and closed out NVDA Aug 31 $270 calls. I didn't get the highs on NVDA, but I'll take the smaller profits where I can. The loss on NFLX was -1300, and the gain on NVDA was +2200. It sure feels like a lot of short term traders are locking in gains with the SP500 ta 2900 this morning.

I took a look at my trades on the FAANG stocks plus NVDA this quarter and the net gains on these trades were +$54k with NVDA showing the only net loss at -$323.74. I think I live and die by FAANGs this year.

 

[smallfil]

Sold my calls on AMD yesterday. Saw it fall in price from its high by over $2. Bought puts on NVDA. It might be due for a pullback. Still have my FB, AEO, JPM call options and RUN put option in addition to NVDA put options.

 

[optionsinvestor]

That might turn out to be a nice exit on your AMD calls yesterday. I took the rest of AMZN out today locking in a total of +$11.6k on the AMZN trade. I thought about getting out of ETSY and TJX, but held off as the market didn't evaporate. It looks like resistance at 2900 starting to form, and that means we'll probably test that level another 2-3 more times. There's divergence in my positions with retailers struggling, but other positions like airlines (UAL calls) and tech sectors (NTAP and SQ) are pushing higher into new highs. In fact, those 3 positions make up over $12k in unrealized gains with NTAP at +$8k.

Should be another slow day tomorrow with a few interesting earnings. I might have to play a few while I wait for LULU on Thursday. I've got about $5k in play on LULU's report. The gains I locked in today will pay for that risk. I wanted to wait until closing out AMZN calls before noting that I'm above $100k this week. Right now, I'm just above $120k and this is where I'll raise my position size a little higher.

 

[smallfil]

Good inspiring calls on your trades. Your timing is pretty good just before the stocks make their big moves. AMD I got out pretty good. Was doing well with NVDA puts earlier but, buying came in and it was down just $1.52 at the end. That wiped out the paper gains. RUN puts went up a bit so, I am cutting down my losses on that one. Might do better tomorrow. FB, JPM and AEO calls I still have.

 

[Overnight]

... That end of day move though, what a nice way to end it. I started AMZN with -3300 and ended the day at +$3800. The sector that was weaker today was retail, and I can understand that with 52-week to record highs hit last week on most retail stocks. Those positions are September calls, so I kept most and will hold them through the Labor day holiday.

Bloody hell, nice work. Wish I understood options. Would make a great hedge against my futures ideas (I think). But as I always say, you options guys are crazy. But being crazy certainly seems to pay off.

 

[optionsinvestor]

Bloody hell, nice work. Wish I understood options. Would make a great hedge against my futures ideas (I think). But as I always say, you options guys are crazy. But being crazy certainly seems to pay off.

Thanks, I checked on AMZN this morning and apparently I'm not as crazy as other option traders. If AMZN opens here at 1959, I left $18k in the market just on this trade. I still have emotions in play at times, and my goal is to remove as much as the emotion as I can.

Smallfil, I saw that on NVDA and NFLX. I let the stop loss take out that NFLX position only to watch it come back to life in the last 2 hours of trading. But those kind of intraday swings do show a battle between bulls and bears. Right now the bulls are holding on, but there are cracks on these individual stock rallies.

 

[smallfil]

AMZN is really a juggernaut! If the premiums were not so rich, I would probably, be trading it. However, I do not want to risk a good portion of my capital on 1 contract on one trade. I want to limit my risk too so, have to take the conservative approach. Yeah, those intraday price swings could be good or bad depending on which side you are on at that time!