Did some quick trades this morning. I started off buying GT, SLB, DIS, AMD, CSCO. I like DIS longterm but I got a feeling we see market going down. There is a nice little gap down to Fridays price action. If it stays above $135.00 then I guess it’s dead money. *3:56PM* As I’m writing this I noticed it dropped down to $134-135ish. I took $ and run!! Not as much as it could have been if I was paying attention. I bought 3 contracts at $0.33 a piece. Disney went down to 134.28 and the contracts got up to $1.69. Would of been nice little $400.00 payday. Being roughly 10 minutes late I sold at $0.90. I made quick $170.00 but also used a day trade.
Goodyear($GT) has been on a one-way trip downtown. Picked up two contracts for 9/20 expiration. Will add a few more depending on price action. See this going up atleast 5x what I paid ($0.38).
I picked up a Spy Put for Wednesday. I’m betting on at least another drop before the ultimate all new high comes around again. Just 1 contract at .47. Bought 5 contracts of Macy 08/23 $16.50 call. Macy’s is due for a solid bounce. I lost a good chunk of money betting on it when it had it’s New York Corporate Building. Maybe it will start paying me back a little. I bought 1 put for BABA 09/20 expiration. I just don’t see how they can maintain an upward trend for very long. I’m sure China or Trump will say or do something that will make this go down as a result of collateral damage. I bought two contracts of SLB for potential bouncer. Expiration is 09/20.
I used up all of my day trades which really blows. If you do not have $25,000.00 in your account you cannot buy and sell a stock the same day without triggering a day trade count. You are only allowed three day trades within a three day period. Ways around this is to have more than $25,000.00 in your account at all times or have a cash account. Playing options your money settles every night so you only play with what you have. There is no going all-in and selling and then going all-in again the same day. It helps keep you in check and from spending to much than your willing to lose. Robinhood I do not believe has that option as of yet. So I will not be able to sell anything that I bough the same day until next Tuesday.
My other buys today were $AMD and $CSCO. I bought ten contracts of each. I also sold both which ate up two day trades. $AMD was $0.12 and $CSCO was $0.14. Both were for this Friday Expiration. I played $AMD earlier. I think it’s gonna keep trending upwards. $CSCO Another one that has beaten down in past month from all-time highs. If it can stay above $48.00 it can close the gap at $50.00+. I sold $CSCO at $0.21 making $70.00. $AMD I sold at $0.16 for a modest $40.00 🙂 All in All we Over $1000.00.