Today, I liquidated $ETR on a touch of the upper volatility band.
This was my first equity trade using the Oversold Buy swing trading strategy, so the return percentage compared to options is much smaller. However, in terms of actual profit dollars, it was the highest grossing trade of the year using this strategy. That's the trade off between stock and options, difference in buying power reduction and differences in % P/L due to leverage. Otherwise, I followed the exact same rules as usual. Because we've just been through earnings seasons, I only have stocks left in the portfolio. Looking for an opportunity among optional stocks.
Updated results for the In The Money Diagonals Trading Strategy below. So far 3 winning trades, 2 losing trades, with 5 results still pending. Click the tab in Trading Results to get a closer look and to see the rules.
An overbought stock market, earnings and a lack of optionable Oversold Buy signals liquid enough to execute the strategy forced me to buy stock this week -- $ETR. This very bullish Utility stock moved nicely in my favor this week after signaling Oversold Buy, and I hope it busts the slump we've experienced with our Oversold Buy swing trading strategy recently. With an $.87 dividend being paid this week, it didn't make sense to try to buy a long dated call. Stock makes more sense.
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