I have decided to change my trading updates from weekly to monthly. Mostly because my other posts about anything other than trading are getting lost.
SO for the last two weeks of July, the following happened:
I sold two DKNG $28 covered calls expiring on July 31st, and they expired without getting called away.
On the 20th, I bought four NOK $13.5 calls and two $11 calls expiring on the 31st because it looked like NOK should be heading up and I thought two weeks would be sufficient. I was wrong. It still looks like it will move up, but I should have gone out farther. I don’t normally buy calls, but I thought I would give it a try. Not a fan, but I won’t rule it out in the future either, I just won’t make a habit of it. They expired before they hit my target.
I was really surprised that they dropped in price especially after NOK had a decent earnings report.
I also sold 3 NOK $9.5 puts expiring July 24th and those were assigned, but the two NOK $9 puts expiring July 31st expired without assignment.
I also sold 3 NOK $11 calls expiring on AUG 28th.
Lastly I tried to capitalize on McDonald’s earnings date by selling a put and call for July 31 at $250/$290 and buying two calls and two puts at the same strikes for Aug 7th.
It did not go high enough to trigger my sell point. The short put and call have now expired, leaving me the long calls and puts. I’m going to attempt to turn those into an iron butterfly by selling puts and calls with the same expiration but different strike prices. We’ll see if that works out. Otherwise it will have been a losing trade. It may still be a losing trade anyway, but if I am able to sell the puts and calls then I will be much closer to a break even.
To know for certain would require me to do math and I don’t want to.
[Disclaimer: I’m not now, nor have I ever been, a financial advisor. Don’t do what I do just because I do it, I am not responsible for your decisions. Learn and do for yourself, take responsibility for your own decisions.]