Week #22 - May 30 Options Trades (US Markets).
- May 30 Options Trades Summary (ETRADE Confirmations)
- "4" Visa Iron Condor (part of my 4-5-6 Portfolio)
- "4-5-6" Social Media Option Portfolio- xxx
May 30 Options Trades Summary (ETRADE Confirmations)
Here is what my brokerage firm summary looks like:
"4" Visa Iron Condor (part of my 4-5-6 Portfolio)
Today with Visa trading at ~$222, I decided to add some risk into my call's legs of my Iron Condor. The short call was at $250, and I lowered the strike price to $245. I collected $0.19 of the premium today for each contract in exchange for this risk.
Why do this? This part is never easy to explain because each trader has different goals and risks/rewards profiles. I also own shares of Visa (which I write covered calls on). So I'm generally BULLISH on VISA shares. I am using Iron Condors, and I am willing to take more risks on CALLS because of this LONG BULLISH position I have.
Even if I lose some money on the CALL leg of the option, I am willing to do this if the net result is a POSITIVE NET gain. That means the rising STOCK PRICE will offset whatever I might lose in the Option trade.
"4-5-6" Social Media Option Portfolio
The "4-5-6" is my 2023 Internet Social Media Option Portfolio Challenge. That means this year's goal was to use LOTS of 4,5 and 6 or a total of 15, each risking 1K on SPY Iron Condors. That means we can risk 15K at most and repeat these trades all year long. In addition to the SPY, we allow "4" QQQ and "4" Visa trade also (with 8K of capital for those trades). Making the same trade all year is boring, but it is a great way to show that trading does not have to be complex or follow hundreds of TICKERS.
Have a profitable day,
Solving-Chaos