Waiting Pays Off

ROFL – Just a couple of days I wrote about my consideration of dumping everything and starting over.  I’m up $1500.00+ since then.  Yes, the decimal is in the right place.  By writing down my thoughts (another example of why keeping a trader’s journal is so important) I realized that every position I owned was still good in my opinion and I held on to everything.  Two of my worst cases, ATI and TV, are both up nicely now.

ATI is up over my strike price that expires today, 110.  I’ll be watching it through the afternoon in case it looks like it will fall back below 110.  If it does dip back, I will likely buy it back and re-write another naked put. 

TV is still ITM, but I have another month for it and it gapped up at open today which is surely a good sign for what’s to come.  The 10 day average was acting as a ceiling, but it gapped over that.  TV wasted no time breaking through the 20 day average after that.  The potential roadblock is that the 50 day moving average put a stop to the run today.  If TV breaks its 50 day moving average, it could be off to the races again.  I was down about $300 earlier this week on TV and now I have a small profit, on paper.

With inflation in check and a small correction behind us, I might be on a naked put selling frenzy after today’s option expiration when I free up more cash, again.

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