Hey Guys,
The market had been locked in a range for the last week or so, and over the last 24 hours it broke out of that range with a whole lot of force. Yesterday was a nice up day and the market continued to boom upward overnight. It's still going up this morning.
One of my futures positions hit its profit target overnight. For any of you who followed the SPXL position I posted yesterday, that one had a solid gap up overnight so you may have locked in a profit well beyond your profit target.
The options trade I took yesterday on SPY also hit its profit target this morning. It's nice to see some profits after the turbulence we've endured the last few weeks.
I picked up another MES futures position today as well as a corresponding SPY options position. I posted the SPXL equivalent for it too. There have been a lot of these futures trades firing lately. With the market starting to go back up, we might start to see more typical stock and options trades again soon. I already see a lot more tickers showing up on the scans and watch list.
I am going to close my TSCO option position near the close of market today. I'm not sure if I'll be able to salvage any value out of it. If I can't sell the position, then it might end up expiring worthless at the end of the day tomorrow (expiration Friday).
I also have one futures position that will be reaching it's time limit tomorrow. I'll be closing that first thing in the morning if it doesn't reach it's profit target or stoploss before then.
If you have any questions or feedback, I'd love to hear from you.