Winner Winner Chicken Dinner $SPY $SPX (Narrative)
Hot streak is alive & well. Writing this at my third different hotel just this week - as I said, busy week traveling.
Crazy week - was stranded on the Philadelphia Tarmac for 2 hours on Tuesday (ironically was in Purgatory while reading the Diving Comedy) so missed connection and was almost trapped in O'hare for the night. After getting there at 1:30am, I woke up early to canvas the area and make another sales proposal - then drove up the UP of Michigan (7 hours) to get to Traverse City MI at night. Spent the morning canvasing the area looking to refill the pipeline and cranked out another proposal call today from 2-5pm.
I knew it was going to be crazy so I decided not to trade this week anymore - didn't want to ruin the hot streak.
Well... yesterday I entered a call vertical spread favoring the long side.. and then last night bored in a hotel room with a racing mind (restless driving) I cranked out some TA - and made a game plan for today on exiting the position. Was thinking we see ATH's today when I entered the trade yesterday.
This morning the market dropped pretty fast - I was on the move, and couldn't think about this so I confidently broke out my exit for each leg of the trade putting in my orders, and left the market to it's own devices.
Went exactly according to plan. The hedge sold off in the early morning drop, and the calls sold off about an hour later in the rally. I outlined them in the chart above. It is funny because the trade favored the long side, but I made more off the hedge then the underlying trade!
Overall walked away with another tidy profit with probably about less than 1hour of TA last night, and less than 15mins of glances this morning.
The streak is alive & well. The market continues to work for me these days!!
EDIT: I say in the chart I sold puts in the morning - this is incorrect, I purchased back the "sell to open calls"... Sorry!
Crazy week - was stranded on the Philadelphia Tarmac for 2 hours on Tuesday (ironically was in Purgatory while reading the Diving Comedy) so missed connection and was almost trapped in O'hare for the night. After getting there at 1:30am, I woke up early to canvas the area and make another sales proposal - then drove up the UP of Michigan (7 hours) to get to Traverse City MI at night. Spent the morning canvasing the area looking to refill the pipeline and cranked out another proposal call today from 2-5pm.
I knew it was going to be crazy so I decided not to trade this week anymore - didn't want to ruin the hot streak.
Well... yesterday I entered a call vertical spread favoring the long side.. and then last night bored in a hotel room with a racing mind (restless driving) I cranked out some TA - and made a game plan for today on exiting the position. Was thinking we see ATH's today when I entered the trade yesterday.
This morning the market dropped pretty fast - I was on the move, and couldn't think about this so I confidently broke out my exit for each leg of the trade putting in my orders, and left the market to it's own devices.
Went exactly according to plan. The hedge sold off in the early morning drop, and the calls sold off about an hour later in the rally. I outlined them in the chart above. It is funny because the trade favored the long side, but I made more off the hedge then the underlying trade!
Overall walked away with another tidy profit with probably about less than 1hour of TA last night, and less than 15mins of glances this morning.
The streak is alive & well. The market continues to work for me these days!!
EDIT: I say in the chart I sold puts in the morning - this is incorrect, I purchased back the "sell to open calls"... Sorry!
