Weekly: Chipotle sours my week

CMG was the big stinker this week. A downgrade, and other news drops Chipotle stock. I take a big loss on one leg as it breaches my mental stop level. Overall, I end the mostly quiet week with a miniscule loss. AMZN NFLX run too hot for my taste, causing some legs to drift into the red.

September/October can be treacherous months in the market. However, sentiment continues to be promising, with very little public chatter about the stock market at social gatherings, and newbie after newbie asking about crash scenarios online. While no indicator is 100%, sentiment at major market tops tends have a lot of people talking about the market, and a lot of newbies dreaming of trading for a living.

A lot of time and energy is being taken up by my upcoming move, so I haven’t been as active in the markets. I did open new long positions in risky stocks such as PAYC SPNK TLRY. Enjoy the long weekend.

Here are the trades (p=puts, c=calls, number near end is price per contract, sell means sell-to-open, cover means buy-to-close):

Mon Records highs. The most hated bull market in history continues to roll.

Sell SPLK Sep 105 p 51
Sell TSLA Sep 400 c 49

Sell PAYC Sep 135 p 60
Sell CMG Sep 565 c 75

Sell SPY Oct5 272.5 p 77
Sell QQQ Sep28 170 p 48

Sell AMZN Sep 2200 c 60
Sell AMZN Oct 1525 p 196

Tue BestBuy down on earnings.
Sell BBY Sep 85 c 15 turning position into a strangle

Sell SPY Sep 275 p 42
Sell QQQ Sep 173 p 40

Wed Tilray up on earnings
Sell TLRY Sep 33 p 25
Sell SPY Nov 262 p 126

Sell QQQ Oct 165 p 50
Sell IWM Sep28 162 p 41

Sell AMZN Sep28 1700 p 154
Sell AAPL Oct 195 p 60

Sell TLRY Sep 35 p 50
Sell TSLA Sep28 400 c

Thu Sell TGT Oct 75 p 18
Sell QQQ Nov 160 p 76
Sell IWM Nov 150 p 57

Fri Chipotle continues lower. I take a big loss on one leg
Cover CMG Sep 475 p 1240 big loss
Cover CMG Sep 600 c 05 profit
Cover SPY Aug31 292 c 03 profit

Sell SPY Oct 307 c 17
Sell NFLX Sep 310 p 30
Sell CMG Sep 430 p 145