Last week's trade doesn't expire until next week. It's still working, so I'm going to just let it ride. If invested in a NASDAQ ETF, there would have been a loss of 1.5% at the close of trading on Friday.
This week there's no new trade.
Friday, June 23, 2023
Friday, June 16, 2023
Trade of the Week (16 Jun 2023)
The trade from 2 weeks ago resulted in a gain of $206 (1.03%) on a $20K account when it expired at the end of the day. On the other hand, if invested in a NASDAQ ETF, there would have been a 3.8% gain at the close of trading on Friday.
The VIX is still low this week, so I'm not finding a 1-week trade that I like. For this week's trade of the week, I had to do a 2-week out Put Credit Spread, a type of options trading strategy that aims to take advantage of market volatility. By selling 2 $2,720 PUT options and buying 2 $2,670 PUT options, I'm expecting that NQX will close above $2,720 on Friday, 30 June, 2023. If this happens, I will keep the difference between the two options as profit, which is a maximum of $80 in this case.
This trade was made in an account with a cash balance of $20,000 while risking only half the available cash. There is a buffer for potentially fixing the trade or taking action if NQX falls 10% over the next two week.
Friday, June 9, 2023
Trade of the Week (9 Jun 2023)
Last week's trade doesn't expire until next week. It's still working, so I'm going to just let it ride. If invested in a NASDAQ ETF, there would have been a loss of less than .05% at the close of trading on Friday.
This week there's no new trade.
Friday, June 2, 2023
Trade of the Week (2 Jun 2023)
Last week's trade resulted in a gain of $96 (0.48%) on a $20K account when it expired at the end of the day. On the other hand, if invested in a NASDAQ ETF, there would have been a 1.7% gain at the close of trading on Friday.
The VIX is really low this week, so I'm not finding a 1-week trade that I like. For this week's trade of the week, I had to do a 2-week out Put Credit Spread, a type of options trading strategy that aims to take advantage of market volatility. By selling 2 $2,650 PUT options and buying 2 $2,600 PUT options, I'm expecting that NQX will close above $2,650 on Friday, 16 June, 2023. If this happens, I will keep the difference between the two options as profit, which is a maximum of $206 in this case.
This trade was made in an account with a cash balance of $20,000 while risking only half the available cash. There is a buffer for potentially fixing the trade or taking action if NQX falls 8% over the next 2 weeks.