Saturday, February 13, 2016

Weekly: The hits keep on coming

It was another bad trading week for me. Some mental stop loss levels were triggered and I got washed out of some legs on: Facebook FB, Under Armor UA, Boeing BA. The move in BA was the most frightening and the biggest percentage loser (2700% loss) I have had in a while. BA came under investigation for accounting practices and the stock dove lower

Bottom line: I've been trading badly. I am about 7% for calendar 2016. This is my worst few weeks in a while. The market holiday for President's Day comes at a good time. What do I tell folks in a slump: trade smaller, take on less risk, perhaps take a break.

Here are the trades (c = calls, p = puts, weeklies denoted by a W, the rest are third week expiration, sell means sell-to-open, cover means buy-to-close):

Mon Bang Zoom mental stops are triggered and I take more losses on the gap open lower
Cover VLO Feb 55 p 242 about a 300% loss
Cover FB Feb 100 p 355 about a 600% loss
Sell-to-close FB Feb 101 c 340 about a 100% gain

Cover DIS Feb 90 p 320 about a 500% loss

Sell UA shares @70.79 about a 14% loss

Cover SPY Mar 178 p 442 about a 140% loss

Sell half position in FB shares (all gone now) 98.57 about a 9% loss

Looks like the last four trades are near the lows of the move. Not good. I feel like I've been ground up and spit out by a meat grinder market. 
Tue Sell FB Feb 89 p 38 rebalance
Sell FB Feb 87 p 24
Got flushed out of most of my FB longs, on my mental stop levels, so cautiously add positive delta.

Wed Sell UNH Mar 95 p 58
Sell HON Mar 90 p 51

Sell DIS Mar 100 c 31
Sell TLSA FebW2 95 p 54

Thu Sell TLSA Mar 90 p 50
Sell TSLA Mar 230 c 35

Telsa moving higher after their report. Looks like short covering. I've been trading so badly, I go way, way out to sell premium.

Sell SPY Mar 198 c 52

Boeing under investigation by Feds. omg. I get out at the ask, taking two huge hits.
Cover BA Feb 105 p 473 about a 900% loss
Cover BA Feb 110 p 787 about a 2700% loss
By the end of the day BA recovers to 108+. I covered when it was below 104. Sh*t.

Sell UNH Mar 125 c 37
Sell FB Mar 120 c 39
Fri Sell FB FebW4 90 p 31

Cover CMG Feb 550 c 15 90% gain
Cover CMG Feb 325 p 05 95% gain

Sell CMG Mar 350 p 193
Sell CMG Mar 600 c 90

Sell SPY FebW4 170 p 30
Sell MCD Mar 105 p 58

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