Early post: Talking Turkey

I’m posting early because I won’t have time this weekend. It has been a sour week with two hard down days and only a modest relief rally on Wednesday. I am down about 6% for the three days, which is really bad. During the next few weeks, posts may be late, abbreviated, or missing. I am not gone, just busy. Enjoy that turkey and the leftovers. Gobble gobble.

Here are the trades (p=puts, c=calls, number near the end is price per contract)

Mon Markets tumble lower. I lose about 4.2% for the day. Ouch. Now in the red for 2018. What was the license plate on that truck? I did not see this coming. I thought I was relatively conservatively positioned, but with another big down day for my account, the market is telling me that my math is off. We aren’t in calm waters any more. Market storms rage, sometimes for no apparent reason.

Cover QQQ Nov30 150 p 43
Cover NFLX Nov23 250 p 194

Roll BA for debit: Cover BA Dec 330 p 1313 big loss
Sell BA Dec 295 p 330

Roll BA for credit: Cover BA Dec 400 c 23 profit
Sell BA Dec 375 c 110

Roll TSLA for credit: Cover TSLA Dec7 285 p 182 profit
Sell TSLA Dec7 305 p 323

Roll TSLA for credit: Cover TSLA Nov30 295 p 105 profit
Sell TSLA Nov30 320 p 329

Roll AMZN for credit: Cover AMZN Nov23 1850 c 36
Sell AMZN Nov23 1750 c 90

Roll AMZN for credit: Cover AMZN Nov30 1970 c 60
Sell AMZN Dec7 1890 c 184

Roll NVDA for credit: Cover NVDA Dec 230 c 18

Sell NVDA Dec 205 c 56

Sell NFLX Dec7 340 c 52
Sell QQQ Jan 187 c 27

Sell BRKB Jan 230 c 208
Sell TSLA Dec 315 p 830

Tue Down dog market continues with a dreaded gap down open. I follow my rules and close positions as the strike prices are breached. The fills turn out to be near the worst levels of the day. I take some massive hits, losing another 4.6% on the day. Yikes.

Cover TSLA Nov30 312.5 p 420 for profit
Cover QQQ Nov23 160 p 255 for big loss

Cover NFLX Nov30 265 p 1650 whopper loss
Cover AMZN Dec 1500 p 10275 monster loss

Sell TSLA Dec7 375 c 475
Sell SPY Jan 295 c 19
Sell NFLX Dec7 170 p 34

Sell BRKB Dec 230 c 81
Sell FB Jan 175 c 16

Wed Turkeys get a reprieve. The selling lets up for one day. We will see if there is more. I gain 2.4% today, which would be great in isolation, but isn’t good after losing 4% on two consecutive days.

Sell TSLA Dec7 390 c 106
Sell AMZN Dec 1100 p 191
Sell TSLA Nov30 380 c 89

Sell NFLX Nov30 200 p 46
Sell AMZN Dec7 1250 p 300