Weekly: C’est la vie

It is a philosophical week that starts with more declines in tech stocks, then a modest recover. I close some positions for losses. I follow my rule to take the loss if the option crosses the strike price. It is painful to do. Twice as painful as the stocks bounce back after I get out. Still, all in all, I am up a tad for the week.

Losses are part of the game. Traders that never take a loss tend to be wizards, scammers or liars. On the Internet, it is mostly scammers and liars that claim never to lose. Often they have something to sell.

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 Dreams turn into nightmares as the market opens higher, closes lower. I take significant losses in my tech positions. I am down about 1.0% for the day.

Roll BRKB for 95 debit: Cover BRKB Dec 195 c 415 for loss
Sell BRKB Jan 200 c 320

Sell TSLA strangles Sell TSLA Jan 400 c 35
Sell TSLA Jan 200 p 45

Sell BABA Dec 190 c 30
Sell BABA Dec 187.5 c 56

Sell FB Dec 185 c 24
Sell NFLX Dec 197.5 c 74

Cover NVDA Dec 187.5 p 600 for a whopper loss
Cover NVDA Dec 260 c 02 for profit

Cover BABA Dec 220 c 02 for profit

Tue Cover BABA DecW4 170 p 545 for a huge loss
This is not the time to be ignoring my trading rules.

Wed Markets calm down, though I take another big loss in a tech stock (Palo Alto Networks)

Sell SPY SPY Jan 240 p 48
Sell LMT Jan 290 p 90

Sell WMT Jan 87.5 p 23
Cover WMT Dec 77.5 p 01

Cover SPG Dec 145 p 03 for profit
Cover PANW Dec 142 p 280 for a big loss

Thu I take profits to free up buying power
Cover QCOM Dec 50 p 01

Cover WYNN Dec 135 p 02
Cover AAPL Dec 145 p 03

Fri Sell MCD Jan 155 p
Sell BABA DecW4 160 p 30