Updated: Sep 17
Chop Chop Choppy day again. Major US indices clawed their way back out of a red pit, and the Nasdaq even finished out with a small gain. US jobless claims came out worse than expected today, however that didn't phase investors much. Actually, the way that I look at it is bad news is good news for stocks. The worse off the economy is, the longer the Fed will delay tapering.
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$SQ +18% (calls)
$CAT -6% (calls)
$AAPL -6.2% (calls)
$YUM -6% (calls)
$AI +45% (puts- Closed)
$ABNB +100% (puts- closed)
$EBON +10% (puts -closed)
$SPY +20% (calls - closed)
$TGT +20% (calls- closed)
$F +30% (calls-closed)
Had some good movement on TGT and F today, and I closed out the positions at 20 and 30 percent profit while the going is good. A little downward pressure on AAPL, CAT and YUM, however I am still hopeful as they are at support. I might not carry them over the weekend as I've made some good profit already this week and don't mind exiting at a small loss. It is rather choppy and unpredictable right now, so I prefer to have less positions open at the same time until confidence grows that we bottomed out, or at support.
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I like SPOT puts, however I'm undecided if I should wait for the upper resistance again, or just enter now and ride them back down to the glass bottom around $200. For now, I'll set an alert for puts from upper resistance, as it looks decently strong.
Nothing new today. I don't want to overdo it with too many positions open. I'll take a look at everything more this weekend. Friday might be a taking profit day for me.
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