Hello there. I stopped trading forex after FXCM did its thing. I picked up options in July and I think I like it so far. I'm focusing on selling rich premium and buying cheap premium for long shot trades on underlyings in the S&P with high volume. Learned a lot from the guys who made ThinkOrSwim.
My YtD results since July 6th have been good for a 2k initial account size. SNAP has been my only realized loser so far with their earnings not moving the stock at all.
My current positions aren't where I wanted them to end for the week but it's much better than it was when the markets opened up. Despite AMAT beating earnings, guidance was the cause for the 10% drop. I wanted this to be a two day trade but guess I gotta wait for the theta decay to come in. Profit potential on that one went from 100% to 50%. I have a long put for AMD expiring in Oct since I think the bubble will eventually be realized and it's cheap to roll for under five dollars. I don't like holding AAL much since it's low volatility but it's one of the few products I can trade favorably due to account size. Maybe a long/call would suffice here. JWN did shoot up 10% today but the vol crush was too much for a quick two day trade. At least I bought into the Sep cycle and gave price time to climb to 80. I have a short strangle on STX and its vol rich enough to take on while allowing for more positions to be taken on elsewhere.
My YtD results since July 6th have been good for a 2k initial account size. SNAP has been my only realized loser so far with their earnings not moving the stock at all.
My current positions aren't where I wanted them to end for the week but it's much better than it was when the markets opened up. Despite AMAT beating earnings, guidance was the cause for the 10% drop. I wanted this to be a two day trade but guess I gotta wait for the theta decay to come in. Profit potential on that one went from 100% to 50%. I have a long put for AMD expiring in Oct since I think the bubble will eventually be realized and it's cheap to roll for under five dollars. I don't like holding AAL much since it's low volatility but it's one of the few products I can trade favorably due to account size. Maybe a long/call would suffice here. JWN did shoot up 10% today but the vol crush was too much for a quick two day trade. At least I bought into the Sep cycle and gave price time to climb to 80. I have a short strangle on STX and its vol rich enough to take on while allowing for more positions to be taken on elsewhere.
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Play the players, not the cards.