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Ok, the Dow is up 144 right now, got the decent pop I was looking for. I closed out the long positions I opened yesterday morning. Could it continue to run up? Who knows, sure it could.. But on the longer term charts things are bearish and I'm not interested in playing that game. It could turn around at any time and continue downward. I'm not going to argue with 14% overnight.
...and here is the data in the spreadsheet that shows more details.
All of the spreads from last week are still looking perfect for expiring worthless at the end of the day. Once the market is closed I will post the results from them.
Here is a copy of my trade log for my spreads. I've changed all of the contracts to 1. You have to manually manipulate some of the totals for each week as you don't know how many trades you'll have. There is also a P/L chart off to the bottom right.
Where are the weekly options list in ToS? Here is where you can find it.
This is the watch list that shows all the stocks that have weekly options. This is maintained by ToS. I go through this list and see which ones give me good credits and then I make my own watch list out of the ones I pick from this list.
So there were a number of trades that I wanted to get into but they have earnings next week so I decided to just stay away from those stocks. I'm not so sure about these spreads this week. It's not my usual setup of 6-10 and things are sort of mixed on the signals.
So, if this week doesn't play out well, I think I'll just avoid earnings week all together and not trade anything until it's done with.
The trade in red was a trade I got in but got back out of because I realized earnings are next week. Took a tiny loss.
The trades listed here are everything so far for next week, including the ones I've already closed this morning.
Welp, it's Friday and the markets have closed. All spreads from last week will be expiring worthless tomorrow. 55% return against risk not including commissions. I think I ended up at 54.3% after my commissions were taken out.
Ok! On to next week... So far the spreads are really weak because things are in the middle and the picks that I did have had earnings so I'm staying away from them. We will see what happens.
Just looked over my charts and things are really a mixed bag at this point. Not too much is clear at this point so I need another day of action to change things up a bit so I can re-evaluate.