Hey Guys,
The market had yet another big red day yesterday. This week has been terrible in the market, and the S&P 500 is down at 5,020 right now.
Surprisingly, despite the market turmoil, I had two positions close this morning for a profit. My KHC options gapped up overnight past the profit target for a slightly oversized profit. And my VST stock position from the main account reached its time limit and locked in a small profit.
But make no mistake about it: this week I'm getting hit really hard, particularly with my option trades. I'm not going to push or pull; I'm going to honor my trading rules and acknowledge that I can't control what the market does. The back tests also reflect some really bad weeks yet indicate strong overall results, so I'm going to stay in lock step with the back-tested approach.
Most of my option positions reached their time limits today, which means that wherever they stand at the end of today, I'm going to close the position and lock that in. It's not over until it's over, but they don't have much time left to turn things around.
I only picked up one new position so far today. I bought options for MU in the double down account.
If you have any questions or feedback, I'd love to hear from you.