What Did You Buy Today?

[fenders53]

(06-08-2020, 10:04 AM)divmenow Wrote:

(06-08-2020, 09:57 AM)fenders53 Wrote: Couldn't agree more with Divmenow.  You have to do the risk reward thing at these levels.  I'm probably about to go short something with a protected option spread.  Maybe buy some JNJ.  I sold shares higher so why not?

Exactly Fenders.  At least JNJ is basing here for the next leg up. JNJ and BMY basing. 2 stocks I can feel comfortable owning after the market realizes this move up in stocks is bonkers lol

I realize nobody who posts this thread engages in my strategy, but I like to share just to keep my self honest.  I've never lost even once doing this but that day will come eventually.

This is my boat account I feel the need to hedge a bit against the market since I intend to spend the money next year.  If these trades are a fail, almost certainly my long positions went much higher and I wasted a one month rally.  I'll be about even for the month if that happens and I can live with that outcome.  The more likely outcome is the market pulls back some in the next month, I chicken out and run off with 60%+ of the money.  Anyway these are JUL 17 trades ...........

Shorted DE yet again with an option spread that limits my downside.  Not like gong straight up short where I could be crushed.  If DE shoots up to $182 and stays there I lose.  That's a pretty big run from here as it is at $168.  

Shorted WEN again.  If it runs to 24.50 and stays there I start to lose.  

$877 credit to my account today.  I'll find a place to put that money long in the next week or so.