Hey Guys,
Well we finally got a nice bit of trading action this morning.
I picked up three stock positions (KR, CVX, and NTR) in the main account. I normally only do two new trades per day, but there's been so little activity in that account recently that I decided to load up while I had the opportunity. In the extra options account, I bought option spreads for KR and simple call options for CVX. And in the low-priced account, I bought a position for LXU.
NTR was not on the watch list. It was on my scan last night, but since it wasn't close to the potential entry price at the time, it didn't make it on to the watch list. This morning, though, it had a huge price drop and triggered an entry. That's why I traded it. That particular ticker went up noticeably right after I bought it this morning, but on the flip side KR and CVX both went down noticeably after I bought them. They kind of evened each other out to some degree.
I also had a few positions reach their profit targets today. In the main account, my stock position for WMT reached its profit target. I also had a futures position reach its profit target before the market opened. That position had been open for more than a month. It went deep into the red and required a lot of patience to get to the finish line. If you had asked me two weeks ago, I would have said that trade had dim prospects, but I stuck to the plan and it paid off. Congratulations to any of you who hung on to that futures trade (or its stock equivalent) and finally got the payout after all that time.
I also hit the profit target on my WMT options trade. That was a nice one because the payout was 163%. I risked $1.47 per contract ($147) and sold it for $3.88, generating a profit of $2.41 per contract. The options approach I take is a high risk, high reward approach, so the trades don't always pay off. But when they do, they can be pretty lucrative.
If you have any questions or feedback, I'd love to hear from you.