Today started off like a good dream for my portfolio. I was in training all morning, but at least saw futures were up. During training I snuck a peak at some of my positions and saw I was looking good for today’s option expiration. After lunch I saw a change of fortune (literally) was taking place. I went from up $1k+ to down a few hundred. I ended the day up $1200+ for the first time in what seems forever.
Part of my luck came from being short on time today which made me put orders in to close a couple of positions before the end of the day. I decided not to take the stock assignments from GME and RTN, both of which were up early in the day, but pulled back by the time I got to my computer. I entered orders a little after 1:00 and they both hit around 1:30.
While GME was trading at $49.81 my limit order hit and I bought back my in the money (ITM) naked puts and paid $91.49 with commissions. GME made it back up $49.98 a few minutes later and I thought I might regret my move, but it closed the day at $49.32. I bought my GMEMJ puts back at $0.40 and they closed at a last trade of $0.85 just before they bell.
While RTN was trading at $60.69 my limit order hit and I bought back my ITM naked puts and paid $371.49 with commissions. RTN made it back up to $60.98 around the same time GME popped and also fell back some to close at $60.56. I bought my RTNMZ puts back at $1.80, which TD Ameritrade shows as the last trade of the day as early as 1:31 pm.
On GME I had a realized gain of $257.01. On RTN I had a realized gain of $67.01. I bought them back today instead of risking a pull back like I’ve had with my other holdings that have cost me. I felt the need to lighten my load. The bad days aren’t over I’m sure and having more cash available seemed like the right plan. Both of these might be good plays again in the not too distant future, but I’ll be selling at lower strikes I’m sure.
MON finished up today and I got out with a full profit although the past three days made me nervous. NYX finished up, but not nearly enough to finish out of the money. I’m taking the stock assignment there and will cover it with a call on Monday most likely. I have a strong feeling I’ll be able to salvage a profit on it. Other options I had for January expired well out of the money, most of them were covered calls (CAT, MOT, MRO, BA) I’ll be re-writing. CRM was my only other naked put (along with MON) that finished free and clear. Again, I live to trade another day.
It’s always nice to make money in a down market. How are you doing overall?
I’m down a good bit – I’ll list my percentages and dollar losses in a few days after my latest options have settled from expiration. I haven’t lost all of my profits from last year, but I seem to be trying to do so.