I've exited my first two ITM diagonal trades profitably. Entry, exit and all roll records below. $RCL and $UNH yielded better than 40% over approximately a 2 month holding period. Rules and strategy videos here.
Options Insights & Spread Trading for Quick and Reliable Profits
April 20th | 4:15 - 5:15 pm (ET)
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Two more trades in our Oversold Buy Strategy that didn't work out. It's always tough take a loss, but I'd feel worse breaking my rules and taking a worse loss later. I know, the market and these stocks will reverse tomorrow. The market knows when I trade and is always out to get me. :-)
Here's how we're doing for the year so far.
Well, this is ironic. Times up for both me and United. My rules for the oversold buy strategy call for liquidation of the long call after a touch of the upper volatility band or 30 days, whichever happens sooner. I won't have to be dragged from this loser. I'll update the results shortly.
I have begun to buy back or roll short calls within the long call diagonal strategy. This is like covered calls, but with the underlying being a deep in the money long call option instead of stock. As April expiration approaches, I'll be rolling or overwriting with May premium as long as the underlying strock remains in an intermediate uptrend. More on the strategy here.
Today’s market offers unique challenges and distinct opportunities. For instance, what will be the impact of the failure to “repeal and replace” the ACA? This event will tackle that question and many other big questions facing investors in today’s market. Marc Chaikin, Chaikin Analytics founder and Creator of Chaikin Money Flow, is joined by Carlton Neel, a seasoned money manager who spent five years as VP of J.P. Morgan & Co. before working alongside market guru Dr. Martin Zweig at Zweig Mutual Funds for nearly 20 years.
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