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John Mylant
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Residing in Colorado Springs, Colorado. Has been trading and coaching using a self-developed option trading system for 10 years. Philosophically conservative, accurately trades weekly options with a strong risk management approach. Well sought after by investors around the world, he teaches a... More
My company:
Trade Options Profitably Weekly
My blog:
SPY Technical Analysis
  • Our June Options Trading Record 0 comments
    Jun 21, 2010 10:27 AM | about stocks: SLV, SRS, UNG, TIVO, DRV, TZA, AMP

    June Options Trading Record

    We finished up our trades last week. The irony is that what we ended up with were last minute trades in the last week of the options expiration. Many of our trades went opposite of the market. Here are a list of the trades we made and made money off of.

     

    7 total trades in June

    1. SLV Bull Put Spread $2000
    2. SRS Bear Call Spread $1000
    3. UNG Bear Call Spread $4000 SPY- 1
    4. TIVO Bear Call Spread $3000
    5. DRV Bear Call Spread $5000
    6. TZA Covered Call ($782.49)
    7. AMP Bear Call Spread $1000

    This little picture is the SPY for the last two weeks. As it moved up one would think that the majority of the Spreads we were looking at would turn on us. Since the market was moving down, we decided to look at a strategy that would take advantage of the bearish tendencies as well as use option expiration to our advantage.

    So we chose the Bear Call Spread as our main strategy.

    But as the market turned favorably bullish on us, many on our watch list went no where. Members of our website EmpoweredInvestingNow.com have access to our monthly watch-list and can trade with us.

    We ended up analyzing our stock picks and bought & sold options a little farther out of the money than we usually like to do. This can bring in huge risk and smaller rewards. But since the stocks we were looking at were also very slow moving and the market was pretty fickle, we did not believe any of them would make a major move at all.

    On this we were correct and it helped us make a nice profit for the month. 

    The only loss we had was the covered call play we made. That stock decided to remind us that we don't always know everything. It moved down while the market moved up. But is was suppose to. That particular one (NYSEARCA:TZA) is a bearish x3 ETF of the Emerging Markets. Everything we looked at and confirmed told us that the Emerging Markets were bearish and it was a good play.

    Well, then we were reminded that no matter how well we research, the markets will do what they want. 

    All our trades and the details as we watched are always online for members to view and learn from. If you would like to learn more, click here.



    Disclosure: Bought & Sold Options
    Stocks: SLV, SRS, UNG, TIVO, DRV, TZA, AMP
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