16
winners, 3 losers for the December option cycle. Unfortunately, all 3
losers were painful, with the worst at about 900% basis the premium collected. I apologize taht I didn't report
all the trades on the blose.
As almost always with options, could have been better, could have
been worse. I reported closing out my short puts on LGF, and I would
have had a 100% gain instead of a -175% loss had I held on. On the
other side, I close some Dec 85 APC puts while the stock was around
84.5. Had I held on, that loss would have snowballed. I close my
short Dec 80 puts while the stock was near its lows near 75 for about a 900% loss basis the initial premium. It wasn't a good month.
As
I often write, fast markets are not my friend. While other more
nimble traders thrive on fast moving prices, my trading often suffers. My trading account was down just a tad (less than 1%) for the
month. Given all circumstances, I was tempted to bump up my
grade. Closing each loser was a rational decision. However, with the stock market at record highs, and my account down for the month, there is only so much rationalizing I can justify. Unlike some others on the Internet, I do report my losers as well as my winners.
Going forward:
Long
BA BRKB GDX IWM IYR TM XOP XRT
Net
long SPY
Net
short APC
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