31. Week 9 – A Short Week To Hunt
May 31, 2023
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 Today
- SOLD 1 ABNB 2 JUNE 23 97 PUT @0.11
- SOLD 1 GS 2 JUNE 23 320 PUT @1.22
- BOUGHT (To Close) 1 GS 2 JUNE 23 320 PUT @0.70
- Didn’t trade large premiums today, keeping things cautious
Today In Review
Coming in off Memorial Day weekend I still seemed to sense some holiday sluggishness, if at least in myself. The AI was super bullish on CRWD, but I refrained from trading it (at least today). ABNB and GS were also flagged, which I did trade for modest gains.
First ABNB – the premiums were really small, but conceptually everything was lined up as very low risk from an AI / technicals perspective. So while trading at $106 I wrote a put at $97 for an $0.11 premium. Really shouldn’t have even bothered to be honest, but I thought there was a chance it’d drop to $0.02 in the day – and I’m not doing anything else with that capital right now so may as well earn a cup of coffee with it.
GS was in the news today for another suppose round of layoffs. I was curious if we were still in the mode where layoff news means the stock ticks up a few. So I rolled the dice on this one picking a strike the AI had as “safe”. So while trading at $328 I wrote a put for $320 strike at a $1.22 limit order. A couple hours later I was second guessing myself and saw the price had dropped quite a bit already. So before the market closed I was able to buy back and close this position out at $0.70, netting $0.50 in profit for a couple hours.
In other news, ENPH had a pretty positive day today – which helped the portfolio value quite a bit.
Portfolio Standings
| Portfolio Value (Open) (M) | $ 104,905.50 |
| Portfolio Value (Close) (M) | $ 105,860.50 |
| Change (M) | 0.91% |
| Change (Tot) | 5.86% |
| Free Cash (Close) | $ 71,148.50 |
| Escrowed Cash (Close) | $ 17,300.00 |
| Equities (Close) | $ 17,412.00 |
| Trades Made (M) | 3 |
Closing Thoughts
If ENPH can get back above 200 by the end of June I’ll be in a great mood!