Week 24: June 11 Investment moves
- US market conditions
- June 11 option trades
- RIOT update
US market conditions
As of 10:45 am (EST), the markets are mostly in the red. I used this RED day to adjust my SPY CALL.
June 11 option trades:
Summary:
- Rolled RIOT covered call down for more risk - got $3 prem each.
- Rolled RIOT Cash Secured PUT down and out for $8 each.
- Rolled SPY Iron Condor's call legs down for more risk - got $7 prem each.
RIOT update
Riot opened down today due to BTC dropping into the ~66K range.
At 10:30 AM EST, RIOT is slightly above the low for the day.
Some of this might be related to a new investment research on bitcoin miners by Cantor Fitzgerald.
Cantor has started research coverage on 7 new stocks, all rates “Overweight.”
This is the opposite of last week's "short" position for a different investment firm. Those that follow my trades, know that I have made plenty of option trades using RIOT in 2024. My trackers show this:
Q1 2024: $163 Profit.
Q2 2024: $1271 Profit.
This is the one advantage of using OPTION. I don't need the stock to move in any direction. By selling options, you collect the premium and often make money on the TIME DECAY that happens over time. Because I tracked my trades for the last 5 years, I can see which positions are making me money and which ones are not.
Then I can rotate and adjust my holding based on my findings. The adjustment is the difference between some traders staying profitable. I have been trading options and I have been profitable each year with the "worst" being two-quarters of losses (which happened once so far).