First things first… Don’t tell my wife. Second. I know what I did wrong, and it was SO many things. Third. Shake it off. I know it’s months of work gone, but I live to trade another day. It’s by far the largest loss I’ve ever had. 30% of my trading account evaporated in minutes. … Read more
Today, I woke up in a good mood. It was Friday. I felt well rested. I had a good trading plan for the day. After some morning exercise, I got some coffee and waited for the 9:30 market bell. DING DING DING DING DING! Trades closed, new promising trades opened, and remaining options expired worthless … Read more
Back in my World of Warcraft days, we had a small guild of tightly knit friends (many of us are friends IRL). While there were guides online for new dungeon and raid mechanics, we had our own guild motto: learn by doing. Reading detailed step by step guides and watching strategy videos give good overview … Read more
Today’s stock market after the opening gap up stayed largely flat. But there was still money to be made. In a flat day like today, it is the perfect opportunity for an Iron Condor. The Iron Condor is a Put Credit Spread combined with a Call Credit Spread. As long as the Short Strikes are … Read more
At 2:00pm today, Fed chair Jerome Powell gave a live report on the Federal Open Market Committee’s (FOMC) projection for inflation and economic growth over the next two years. Basically he said more of the same that he’s been saying for weeks: nothing is changing in the near future and the fed will continue to … Read more
Every time we enter a trade, are are subject to the changing market conditions. Just like a sailor must embrace the changing winds. Today, the stock market was bloody red. Right from pre-market hours right through the closing bell. For me it was especially painful because of my Options Positions on TSLA. Over the weekend … Read more
I woke up super early suddenly. An idea struck me like lightning and there was no way I could stay in bed, let alone stay asleep. Let’s back up. This whole week has been red days on the stock market. I had a ton of put credit spreads open from last week – some I … Read more
In the world of options trading, the Greek Theta represents the time value. You see, each option contract has an expiration date and based on factors such as price and volatility, the time also has value. As I study more about Theta decay, I think more about the value of time. How much is my … Read more
The stock market decided to take a dive at about 10:10 am this morning. The S&P dropped 1.0% over the next 40 minutes. DIA dropped 0.8%. And what I really care about was TSLA falling from the market open at $843.15 all the way down to $800.02. TSLA spent the rest of the day teetering … Read more
Whether it’s an options trade, a blog post, a YouTube video… sometimes they’re a flop. It doesn’t feel good when you don’t get the results you want. But it’s important to keep putting out content. If you can, try to learn from it. Find out what you can do better. Keep in mind who your … Read more