Day 41

Market Recap

The market moved down today.

• SPY went down by ~0.93%.
• QQQ went down by ~1.4%.

Trading Update

Yesterday, I said the following:

...starting tomorrow and by the end of this week, I will look for ways to reduce the loss on my LEAPS and get out of them.

One idea that crossed my mind was to create a credit spreads ladder on one or more instruments.

Using the LEAPS I have open, I setup to:

• Sell MSFT $405 Call, expiring 4/25 (38 DTE), receiving $165 in Premium
• Sell GOOGL $175 Call, expiring 4/25 (38 DTE), receiving $475 in Premium

Those premiums gave me an increase in buying power, so I promptly used up $500 to then additionally:

• Sell AMZN $175/$170 Put Credit Spread (45 DTE), expiring 5/2, receiving $105 in Premium

My exit philosophy on each of them is going to be the following:

• Closing the trade on which ever of the following happens first:
  • Trade loses 200% of the premium received.
  • Trade gains 50% of the premium received.
  • Trade is at 21 DTE.

Portfolio Status

My portfolio moved down by another 4.75% today. I don't think I have chosen particularly bad instruments, so I am blaming my position sizes in those instruments for the situation I am in.

📉 Year to Date: -6.92%
📉 All Time: -21.61%

YTD comparison: SPY is down -4.65%, while my portfolio is down -6.92%. I am under-performing SPY.

Here are the open positions.

Trade History

Here are my last 20 trades:

Plan for Tomorrow

Possibly open one more credit spread.

Monitor and observe. Adjust, if necessary.

📌 Disclaimer: Nothing on this site is financial advice—I’m just here to entertain! Here’s my introduction, my trading philosophy, and some ground rules.