I do live trading on my Twitter and would like to post the real option trades that I am doing, and what my current watchlist is. Follow along on my journey to $1 million.
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It was another bloody day in the markets and my portfolio took another hit. Today I am down 7.4% or $55,000. Considering most of these losses came from my long term holds, my options positions were not as bad as I expected them to be. Surprisingly, I took some profit on some positions yesterday.
Current Positions: (moving away from excel and just posting screenshots)
It is to bad I didn't have enough time to pick up any of the hedges we were discussing yesterday! I'll be looking more into some for the QQQ, SPY and DIA.
In times like these, I tend to DCA the longer term positions, like my ARKG or AAPL LEAPS for example.
The tech sector took a hard hit today with the DOW managing a small gain. The rising inflation and bond yields were eventually going to get priced in; there was little doubt it would not. Also, the Biden stimulus was finally confirmed but that more benefitted the DOW than tech.
There is nothing that I would like to add to the watchlist today as I prefer to dollar cost average my bigger positions on days like today, especially tech. Tomorrow let's see if we see a small bounce back and if we do, I don't expect this week to finish out green for tech.
$SPCE: Virgin Galactic is down and almost into my buy zone again. I have sold a put with a strike of $46. If you don't already own some SPCE, this could be a great chance for you to get some exposure.
$CCIV: This is another on that is coming up to my support. The deal with Lucid was confirmed, however it sent the stock plummeting. If you recall, I was taking advising to take profits when it was up past $50. Hopefully, most people do take consistent profits and now are at a good spot to buy back into it.
$NET: Cloudfare on discount and at my support. If you don't already have exposure, this is a good chance to enter.
$NNDM: Nano Dimensions, the Israeli 3-D printing play, is approaching the lower, stronger support. I've got a buy order for commons at $12 GTC, so hoping I'll be able to lower my cost basis a little bit.
Keep in mind, when dollar cost averaging don't spend all your available capital in one or two days. Make sure you can afford to keep buying for more than a week (or more) of consecutive down days. Good luck trading everyone and relax a little bit tonight!
Note: Risk (1 out of 5) is my opinion of how risky the stock and these plays are; 1 being the lowest and 5 is the highest.
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