Saturday, November 04, 2017

Weekly: The absent minded trader

I feel absent minded this week, forgetting many minor things. In the stock market, I took assignment on sold AAPL calls and paid for it. Even with this unforced error, I eek out a gain for the week. It is one reason I like to play with the odds in my favor. There is more room for mistakes. Tesla’s dump on earnings news doesn’t burn me, because I sold options so far out of the money.

My mind is elsewhere at times, so try to stay out of trouble. Here are the trades (p = puts, c = calls, sell means sell-to-open, cover means buy-to-close, number near end is price per contract).

Mon A blue Monday for me as AAPL continues higher after my failure to close before getting assigned. Cover 100 AAPL shares 166.07 effectively about a 3000% loss on the 162.5 calls I sold that got assigned. Down the rabbit hole I go, and I come out a lot worse.Cover AAPL Nov 165 c 525 for a 260% loss
Sell AAPL Nov 185 c 35

Sell NVDA Nov 165 p 55

Wed Sell QQQ Nov 144 p 24
Sell SPY Nov 248 p 24

Thu Tesla lower on earnings, I add more layersSell TSLA Nov 250 p 57
Sell TSLA Nov 350 c 55

Fri Sell MCD Nov 160 p 23
Sell TSLA Nov 350 c 28

Sell AAPL Dec 200 c 18
Sell AAPL Nov 162.5 p 36

Close some winning positions to free up buying power:
Cover AAPL Nov 135 p 02
Cover SPY Nov 235 p 05
Cover TSLA Nov 405 c 04

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