DISCLAIMER: This is a simulated educational exercise using paper trading fake money. This is not investment advice and is not intended to be copied.

TLDR

• Trades Wednesday 24 May
  • BOUGHT (To Close) 1 NFLX 26 MAY 23 345 PUT @0.33 (1.07 Profit)
  • BOUGHT (To Close) 1 SNOW 26 MAY 23 160 PUT @1.8 (0.53 Profit)
  • SOLD -1 OKTA 2 JUNE 23 76 PUT @2.05
  • SOLD -1 WDAY 26 MAY 23 180 PUT @1.16
• Exited SNOW before after hours crash, pulling profit from an otherwise bad situation

Today In Review

Wednesday was a fun day! Coming into the morning I had two open put positions from earlier in the week (NFLX and SNOW) that I didn’t feel super great about and wanted to keep a close eye on. This was first on my priority for the day.

Existing Positions

Overnight I started feeling less good about my YOLO into SNOW. The option started the morning by creeping up in price, putting me in a loss. So I set up a stop loss to stop any bleeding before it got too bad. Thankfully I did this instead of closing outright, since it immediately began to change direction. At some point in my afternoon coffee break I noticed the option was trading below what I wrote it for, so I executed that quickly. I netted 0.53 profit for a one day hold. This isn’t great, but it’s like 20%+ premium gain and got me out of risk. After hours SNOW reported earnings and the stock price tanked on guidance revisions. So I’m super happy with this move.

NFLX hasn’t tanked yet, but similarly I saw I could close it out at a ~75% profit on the premium. So I decided there was no reason to hold on, and closed it out at 0.33 netting a 1.07 profit.

New Positions

WDAY was flagged by the AI to write a put around the $177 area. Looking at the charts, this seems to be around a recent level of resistance. The indicators are mixed, some like the MACD point bullish and others like the RSI point bearish. WDAY was trading at $195 at the time. Given there was only 2 DTE and the $177 resistance level, I felt okay giving the $180 put line a whirl, for a $1.16 premium.

OKTA was also flagged by the AI, pretty strongly by multiple models. I’m not super familiar with their offerings, but noticed very high premiums going into next week. I think this is a target for an early exit. In terms of the technicals, the Ichimoku Cloud and MACD point bullish (weakly though), while the RSI really indicates over bought.

I decided to trust the AI and short term momentum. While trading at $84 I wrote a $76 put for next week for a $2.05 premium. I’m going to try to close that out early.

Portfolio Standings

Portfolio Value (Open) (Wed)	$ 104,486.50
Portfolio Value (Close) (Wed)	$ 104,716.50
Change (W)	0.22%
Change (Tot)	4.72%
Free Cash (Close)	$ 62,711.50
Escrowed Cash (Close)	$ 25,600.00
Equities (Close)	$ 16,405.00
Trades Made (W)	4

Closing Thoughts

ENPH, WDAY, and OKTA are still open – but otherwise the portfolio is looking great! Eight weeks in and I’m almost at 5% profit, which is ahead of my goal of 0.5% per week. I’m very happy with the results so far, especially considering my goals of “conservative” gains without more than 10 minutes spent a day.