This month, I'm trying a new trade setup where I use 10% of the premiums earned for potential multipliers with limited risk.
When I entered this trade, price was hitting the bottom channel of 88.06. Semiconductors as a sector has been doing well Weekly and Monthly. Hence I entered the following trade
9 Contracts, 100 Strike @ 1.10 that amounts to $990 (Excluding commissions). As I'm entering this trade setup much later after I entered. In hindsight, I think Monthly contracts are not great as the Theta drops pretty rapidly once price deviants. I might have to relook how I plan and select Monthly Multipliers.
I also feel picking a single direction trade very difficult and after so long of not doing it, it feels strange haha. This is probably not a trade I'm happy with, even if somehow I end up profiting (Which I doubt is possible)
When I entered this trade, price was hitting the bottom channel of 88.06. Semiconductors as a sector has been doing well Weekly and Monthly. Hence I entered the following trade
9 Contracts, 100 Strike @ 1.10 that amounts to $990 (Excluding commissions). As I'm entering this trade setup much later after I entered. In hindsight, I think Monthly contracts are not great as the Theta drops pretty rapidly once price deviants. I might have to relook how I plan and select Monthly Multipliers.
I also feel picking a single direction trade very difficult and after so long of not doing it, it feels strange haha. This is probably not a trade I'm happy with, even if somehow I end up profiting (Which I doubt is possible)
Trade closed: stop reached:
Options expired without a cash out lol. Was so wrong on this direction