2020: Week 18 & 19

Weekly Portfolio Chart

And just like that, April is over. This month flew by for me, as did the past two weeks. I was called back into work the week before last, and I also interviewed and took a job at a major home improvement chain. This past week I worked full time training and becoming a forklift operator in the Receiving Department. I’ve worked at three separate jobs in the past two weeks. I’m a little tired.

On the trading front, I was able to make a few interesting trades during this time.

Week 18

New Positions

I opened another long Put in Ford, paying $23. I really thought the poor earnings would have hit the company a little harder, but it seems like Ford has gone as low as it will for the time being.

  • F $5 Long Put Exp: 5/15

Realized Profit & Loss

  • CLOSED: F $5 Long Put, Exp: 5/15 – Realized $3 profit

I had expected to get a little more out of this one, but Ford is more resilient than I expected. Ultimately that’s a good thing, since long term I want Ford to go up.

Week 19

Weekly Portfolio Chart

This week I wanted to get back to selling options. I got sick of being on the wrong side of time decay and probabilities. It was tough to get too may trade ideas going as my hours at my new job are 8-4:30 with very few opportunities to check my phone. This may be a blessing in disguise as it will force me to make a plan and stick to it.

New Positions

  • F $5 Short Put Exp: 5/15 (2)

I sold these two Puts for the same amount I sold my long put last week, $25. What I did was turn the two $4 long puts still have into outside leg of a credit spread. The reason I did this was to manage the potential $41 loss I was looking at by still holding these two puts after the Ford’s earning. It was a risky play to make as Ford could easily dip below $4.75 (my breakeven level) next week, but ultimately I am happy with my decision. Converting losses into wins, or at least mitigating them is one of the beautiful advantages of trading options.

My plan is to hold these through expiration next Friday and make $8 instead of losing $41.

Realized Profits & Losses

  • CLOSED: IWM $112/$111 Debit Spread, Exp: 5/15 – Realized $13 loss

I got this one all wrong. However, at one point I was at a total loss of $27. IWM had a two day dip, and my debit spread regained some value. As much as it hurt and I didn’t want to do it, I closed the position at $15. I’m glad I did. IWM has only gone up since then. Doing the hard thing often hurts less in the long run. I’ve never been happier about a $13 loss.

Position Brief

…and here is the final two week roundup!

TickerPositionUnrealized P/L
F2 Short Put (Exp: 5/15 $5 Strike)+$34.00 (+68.00%)
F2 Long Put (Exp: 5/15 $4 Strike)-$38.00 (-90.48%)
FLong Call (Exp: 9/18 $9 Strike)-$12.00 (-70.59%)
FLong Call (Exp: 1/15 $7 Strike)+$3.00 (+7.50%)
FLong Call (Exp: 1/15 $10 Strike)$0.00 (0.00%)
F10.52 Shares-$14.66 (-21.01%)
CASH$272.95 (+$150 held in collateral)

Leave a Reply

Your email address will not be published. Required fields are marked *