Thirty-nine
winners, nine losers, two breakeven trades for the February option cycle.
It was a wild trading month that included a 300 point down day for
the Dow and a snapback rally to get the overall market to about
unchanged for the year. My trading account is close to unchanged as
well. I am at slight paper gain that is less than the commissions. At
least the broker (ThinkorSwim) is happy.
It
was a trading month with many opportunities, some blunders, and some
good trades. The losing tickers include: Boeing BA, Toyota TM, the
retail etf XRT, Michael Kors KORS, oil production etf XOP. Winners
include Amgen AMGN, Valeant Pharma VRX, Goldman Sachs GS, Russell
2000 etf IWM, and the gold etf GLD.
Mostly
it was about treading water. With the big smash I went into survival
mode and closed out several positions. The account draw down was about
2% at the lows. Most I view view as rational decision making. Only a
couple I see as blunders, such as closing out Toyota and
selling some calls on Kors.
Going
forward, gold and treasury (GLD and TLT) option premiums are so low
that is hard to justify selling premium. I got a little too fine with
some of my delta adjustments. As long time readers might observe, I
increased my trading activity. For now, that increase in activity
hasn't brought about better results. It isn't 2013 (big up year) any
more, but I doubt it is 2008 (a big down year) either.
Position
summary:
net
long BRKB IWM KORS SPY TLT
net
neutral AMGN
long
DIS GILD HON NSC VRX
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