I know I usually don’t do a full recap on Friday but I felt the need to discuss why I put on a large hedge today and wanted to get it to you with enough time left in the day.
There is but I’ve said 100 times my book is irrelevant. I don’t want the Friday recap to take time. I never even sent one till recently. My book should not matter to any of you
that is true. However observing trade managements you shown thru your trades can help new traders see how risk management and risk exposures are deployed by you in practice.
We trade a like. Hedged short term with a QQQ April 28/June calendar at 305 and longer term with Septembe 305 puts that Ill sell puts against for a spread if we drop. Waiting on the short puts until the drop occurs to capture more vol and premium
Puts my risk refined, what if the market rios to 425 on some nonsense? It’s not impossible. I would get killed. Like I said look back over longer timeframes when the daily macd rolled over you won’t find one in years that didn’t work. Should I have waited till after earnings for confirmation? Sure but I’m so levered long that it’s more prudent to do this before earnings
Thank you James for your write-up. Good job.
Hi JB, is there a chance to post open book for friday's if there's changes?
There is but I’ve said 100 times my book is irrelevant. I don’t want the Friday recap to take time. I never even sent one till recently. My book should not matter to any of you
that is true. However observing trade managements you shown thru your trades can help new traders see how risk management and risk exposures are deployed by you in practice.
I disagree. I implore people to do their own thing using the data. What I do and don’t do is not important, just being honest.
100%. We should do our own thing with the data and learning to do so through your guidance there.
side note thou, you will be surprised how many readers find your book helpful =P
We trade a like. Hedged short term with a QQQ April 28/June calendar at 305 and longer term with Septembe 305 puts that Ill sell puts against for a spread if we drop. Waiting on the short puts until the drop occurs to capture more vol and premium
I’m really not big on buying outs but certain times call for it and this is one, should the macd rollover unfold
Instead of buying Puts, why not sell a deep-ITM call spread, e.g., 310/415.
Puts my risk refined, what if the market rios to 425 on some nonsense? It’s not impossible. I would get killed. Like I said look back over longer timeframes when the daily macd rolled over you won’t find one in years that didn’t work. Should I have waited till after earnings for confirmation? Sure but I’m so levered long that it’s more prudent to do this before earnings
I was suggesting selling a call spread: e.g., 320/415. That caps the upside risk.