Well, Traders, investors, followers of Fast Money Trading and Slow Money Options glad to some extent that the week is over. I had a good July 4th Holiday and I hope that you did as well. The week did not turn out quit like I had expected but this is about investing and managing risk. Looking back so far this year there have been 26 weeks and I have maintained my weekly goal, achieving $1215. For the year $34,673 is what I will be paying tax on in my Fast Money Trading account. Again Not too bad on a $25,000 investment and the year is 1/2 over. My goals have not changed and Im still enjoying teaching my ways of investing.
This week looks like the markets will regain there upward momentum. So lets be sure to keep out trading notebooks updated and adding notes and clarity to each thought or rule. You know that if you have a question or need clarification you just need to ask and I will assist you.
So how did SLOW MONEY OPTIONS do for the week? I had announced 4 trade recommendations on Friday think all would be OK. My AAPL put spread for 7% return did fine. The AAPL call spread did fine with a 5%. The SPY put spread 3% and the call spread -4%. RULES, RULES, RULES but I like it. With only 1 day or really a few hours before expiration I announced those trades and for a while it looked like the S&P was going to continue going sideways, which would have been fine. But being so close to the 163 level on the SPY I decided to watch and close out the position to be safe with in 1/2 hour prior to the markets closing. I had an order in to close @ .10 and was wondering should I just roll to next week and or up and out? My decision was made for me when I realized I was traveling and making this decision on an iphone. If you have ever looked at option spreads, and charts from 2 different platforms on an iphone you know my decision was made up. Seems that was the better choice but will see next week.
Remember always take the more conservative spread is the reason that I give you choices. What I do is take all my recommendations just split the money between choices. You can trade just enough to give you an extra days results of trading or trade enough to give you a weeks worth of trading. The choice is yours take responsibility.
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I am trading weekly options to help you grow your portfolios a little each week. We are either making money or not losing money. Thank you for letting me serve you, I consider it a privilege to work with each of you. I strive to make a successful trade one week at a time.
Are you making money? If not why not trade with me. Remember the goal is to make money NOT lose money . . . Duh . . . . . . . Take a look and see how Slow Money Option Trading went https://docs.google.com/spreadsheet/ccc key=0AjgjBJLwH3rdERid3A0RE1GRFlyaHB0S0VxbHc0Vnc&authkey=COb7xdMJ
Remember if your not a paid up member of the Fast MoneyTradingTeam you will not get the weekly Slow Money Option recommendations. Yes, I expect to publish Wednesday,Thursday or Friday my weekly option trade to the paid up members.
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I hope you will learn from my years experience as a professional trader.