Options Trading With Apple (AAPL)

No trades today. In my 16 years of trading, I have primarily day traded 60-70% of the time, the other trading I was doing  attempting was in options. My understanding of options is better than average, with that said, I know I am not sophisticated (smart) enough to implement too many complexed option strategies at one time.

See below for some of the various option strategies. 
Option Strategies
Options I have baking in the oven.

Max credit by Jun 8th exp. $244
Looking for AAPL 185 Call to go higher this summer

Today my P&L was positive $152, or I could say I was visiting "Profit Island", a phrase a shamelessly stole from Rhiese over on his blog Trading & Stuff.  The trader I want to be is the kind that trades 70% options and 30% day trading.

Options give a trader the ability to lock in the profit as well as the risk. At the end of the day, we are all trading because we believe we can identify and minimize our downside risk. Currently, my winning day trades gives my account that quick injection of P&L that makes trading feel worthwhile. However, with every winning trade, I have been prone to overtrading digging myself a deeper hole to climb out of.

YM 5min 
As I mentioned, I didn't daytrade today knowing I have capital tied up in option positions. The YM was up more than 250 points, I'm happy to say that I had zero FOMO. As I reviewed this chart, my trading style/technique/method would have had me trading in chop, possibly dangerously overtrading?

Hope we all end the week, month, year on "Profit Island"!

Comments

  1. haha! awesome to see my trading reference on your blog! but even better is that you made money today. it's all about those green PnL numbers my man.

    enjoy the rest of the day - you deserve it!

    ReplyDelete
  2. I mean, I hope you enjoyed the rest of your day! and of course, here's to hoping there is new money in your account today!

    ReplyDelete
  3. Thanks Rhiese for allowing the use of linguistic freedom. My AAPL options were in the red this morning when AAPL was testing 185, nice to see the market rebound along with my P&L.No day trades today. I cut the grass, did some gardening now about to sit down with a beverage and watch the NBA Playoffs... Good day!

    AAPL
    Open 186.35
    Day High 188.50
    Day Low 185.76

    ReplyDelete

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