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 Monday 15 May
  • None
• Trade Tuesday 16 May
  • None
• Trades Wednesday 17 May
  • BOUGHT (To Close) 1 TGT 19 MAY 23 145 PUT @0.03
  • SOLD -1 NVDA 26 MAY 23 277.5 PUT @4.10
  • SOLD -1 NFLX 19 MAY 23 327.5 PUT @0.70
  • BOUGHT (To Close) 1 NFLX 19 MAY 23 327.5 PUT @0.24
• Busy most week working on other things, but found some quick flips on Wednesday!

Today In Review

Combining three days into a single post yet again!

Monday & Tuesday

The first two days this week nothing happened. I had only a few minutes to trade anyway, but all premiums were low and stocks had been getting killed after earnings lately. So I didn’t want to spend the bandwidth it would take to find properly priced options. I decided instead to work on formalizing that strategy to better identify entry / exit targets. More on that to come in the future!

Wednesday

Wednesday 18 May gets interesting. I was still busy but in my 5 minutes noticed some juicy premiums that just so happened to work out for me.

First up is TGT. I had an open position from the previous week set to expire this week. TGT shot up after earnings, and when I checked my position I saw I could close it out for only $0.03 premium a share. I had to do that, so spent the $3 and got my capital back.

Next up I saw NFLX flagged. The premiums on this were low, but the technicals (MACD, RSI, Cloud) were all moderately bullish. With only 2 DTE I felt okay taking a little risk. While trading at $333 I wrote a PUT for $327.50 at a $0.70 premium. Later that day when I checked in NFLX had moved up to $340 and the option mode down to $0.24 so I decided to close out with my quick (but small) win.

Now comes NVDA. The AI had been flagging this for a few days. I generally want to avoid NVDA because I don’t personally trust its astronomical valuation. However I decided to look, and saw some very high premiums. The technicals were also interesting:

The MACD and Ichimoku Cloud were pretty bullish, while the RSI was indicating over bought. Likewise in the short term NVDA has been up pretty high with a lot of volatility, so it’s unclear where the floor could be. However I decided to roll the dice, and while trading around $298 wrote a put for $277.50 expiring next week for a $4.10 premium.

Portfolio Standings

Portfolio Value (Open) (Monday)	$ 103,852.00
Portfolio Value (Close) (Wednesday)	$ 103,923.00
Change (M-W)	0.07%
Change (Tot)	3.92%
Free Cash (Close)	$ 38,300.00
Escrowed Cash (Close)	$ 49,250.00
Equities (Close)	$ 16,373.00
Trades Made (W-F)	4

Closing Thoughts

I’m writing this post Thursday morning pre-hours and see that very NVDA option I wrote for $4.10 yesterday is currently at $0.20! I’ve submitted a closing limit order for when the market opens. Stay tuned next post to see if I made an awesome short term flip.