I made the comment in the X / Twitter stream the afternoon, that I was exited the Disney (DIS) trade.
We slipped through that supportive structural shelf at $90.00, at which point I put on the short premium trade …
Tapped $89, and then turned around and rallied higher than a hippie in a helicopter, surpassing the expected range, and with the gamma and deltas? As stated, decided to exit the trade for a net-net -0.47 loss after the premium collected, and exit point.
I spent the last few minutes of the cash session looking for premium to sell, but really didn’t find anything to sell. I kept looking after the market closed, and actually have a few ideas. I’m not really interested at DIS at this point, but have a few other ideas.
Even if we don’t sell ANY premium for the rest of the month, the GTC Sample Portfolio option trades are down exactly -0.05 this month. Heck, that alone was made up for by the COST special $15.00 per share dividend; and we still have the Discount to Yield on the Bills coming in to the remainder of the month.
But who knows. I may find some premium tomorrow or the day after to sell, to bring the option premium back to positive for the month.
——-
Disclaimer: None of the thoughts or posts at GTC Traders / gtctraders.com constitutes a recommendation that any particular security, portfolio of securities, transaction or investment strategy is suitable for any specific person. None of the information providers or their affiliates will advise you personally concerning the nature, potential, value or suitability of any particular security, portfolio of securities, transaction, investment strategy or other matter. GTC Traders simply writes such articles to delineate their thoughts for their own edification. All thoughts posted are simply individual thoughts as to process as of the time of writing, and are subject to change without notification to readers of this website. Stocks and options trading involves substantial risk of loss and is not suitable for every investor. The valuation of stocks and options may fluctuate, and, as a result, any trader may lose more than their original investment; especially in the case of the use of options. Any content on gtctraders.com should not be relied upon as advice or construed as providing recommendations of any kind. It is your responsibility to confirm and decide which trades to make.