Short and sweet since I’m feeling a bit under the weather. I need to learn to not leave so much money on the table. It’s frustrating and starting to get on my nerves!
Trades Taken
- -1 x JASO June 25 Call
- -1 x LVS June 65 Put
- 1x VLO June 45 Put
Profit / Loss on the Day / Open: -$58.00 / -$95.50
Closed out my JASO calls around the high this morning only to see it fade the rest of the day. Solar play may be over for now especially with oil potentially fading from these levels. LVS took off like a rocket and hit my intraday stop and as a result I exited with little damage. VLO looks ripe for the drop so we’ll see what happens.
Overall, while still another loss, it wasn’t a bad day. Once again, however, tight stops on futures got the best of me. It’s a work in progress though. Once I refine my futures trading skills, I’ll be able to post more consistent profits. I did notice around lunch time trading in a zone somewhat. Remember that scene from Office Space where they head to the psychoanalyst and that funky music plays in the background as Peter’s hypnotized? Yeah, it was almost like that. Anywho…
Trades taken
- 2xNQs
- 1 June 95 V Call
- 2 June 25 JASO Calls
- 2 June 25 BBD Calls
Today’s Profit / Loss: -$25
Minor loss although off my lows for the day. Some strength near the close helped cut my NQ losses in half. Other than that, while I’m concerned I’m overly bullish, I couldn’t find many put plays today. I noticed the Option Addict boards discussing Valero (VLO), but if oil prices do begin to come down, I think VLO and other refiners benefit due to the decrease in crack spreads, making it more profitable for them to crank out the good stuff. Volume was awful as well as I’m sure others are saying. I haven’t been trading long enough to understand what the differences are between a low volume and a high volume day, but it appears there is quite the difference.