Hey Guys,
The market is down this morning. The S&P 500 is at 5,690 right now, so at the moment, the bears are beating the bulls for the battle of the 5,700 price level.
My HDB stock position hit its stop loss this morning. Also, my FIS stock position reached its time limit, so I manually closed it, and it ended up with a minor loss. It's not fun to see trades end up in the loss column, but it's not a surprise either. I fully expect there to be losing trades along the way. I take it in stride and move on to the next trade.
The Chipotle options I bought yesterday actually went up high enough in value to reach their profit target yesterday, but I don't set my sell orders for a profit/stop until the next day. The reason I do that is to avoid any risk of violating pattern day trading rules. This morning, the price of the option is below the profit target again, so my position is still open and I'll have to wait and see if it comes back. Keep in mind that you can make your own trading decisions and manage your own risk, so if you want to lock in profits the same day, then you are certainly welcome to do that.
I bought a few new positions today. In the stocks account, I bought positions for BNS and OMC. In the options account, I bought options for Capital One.
I have a few option positions that reached their time limits today. I'll be manually closing those near the end of the trading session today unless they reach their profit targets first.
If you have any questions or feedback, I'd love to hear from you.