$323 Put Contract on the SPY | Options Trade
I’ve been slowly getting back into the world of options trading. I took some time off to work on a few other projects and areas of interest. One of those being everything on the Steem blockchain.
Some recent events reignited my interest in trading. So now I am trading again, but with much smaller stakes. I’m trading for the sake of trading rather than trying to make a full time living off of it.
In all honesty, I enjoy this so much more. I enjoy trading and “playing the game” rather than worrying over portions and thinking about how I will pay my bills from short-term trading strategies. That’s no way to live… at least, not for me.
I prefer to spend 99% of my time building things for the long-haul. Things that make me happy and that bring long-term value to the world. Trading is something that I enjoy for the game of it all and that’s why I’m allocating such a small amount of my time to it.
Regardless, I made this options play today and I figured it might be fun to share it here for posterity.
I’m expecting a 15% return from this contract. With this type of trade, I’ll usually look to get in and out on the same day if possible. If that’s not possible, then I will sit on the contract for a longer period of time, but even in that scenario, it’s typically cleared within a week.
With all of the geopolitical nonsense happening right now as well as some other macroeconomic factors, I’m expecting a lot of uncertainty in these markets.
Much of my entry time for these positions relies on pure intuition. I’m looking less at data and looking more at the market over the past week and cultivating a gut sense of when I should enter a position.
Sometimes I’m right and sometimes I’m wrong. The key is to keep playing and play with small stakes so that any one losing trade doesn’t knock you out of the game.
None of this is financial advice, obviously. I’m just a person on the internet sharing their trading journal.
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Hey man you win or you learn. As an entrepreneur and business builder, both are important and diversity is prosperity and sanity.
I am working on some neat projects as well and hope to carve out a little fiat to start some trading again too.
Proud of you man. Good luck on your trades.
Posted using Partiko iOS
Exactly. Always gotta push forward and take the risks in order to learn and grow.
That sounds exciting, I hope you get back into it soon and have a good time learning or making money (hopefully both).
Good stuff, would love to see more of your trade set-ups in the future. Volatility is low, so if the Markets pull back a bit, your trade should increase solely on volatility.
Yeah I need to do this stuff more often. It's a lot of fun. Unfortunately, I closed this one today for a 5% loss. I didn't like the direction I was seeing on it, so I cut it short there. May look for a better entry point next week.
Just simply for the fact we are pulled far away from some short term MAs makes it a shot worth taking. I like it.
Posted using Partiko Android
Yeah, I ended up closing this trade for a 5% loss. Sucks, but I saw some added risk that I didn't like. I may look for another entry point in the coming week. #winsomelosesome :)
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