We're currently on a trading break.
We went to CASH!!! two weeks ago (12/5) and we're going to start January 2nd with 4 brand new Member Portfolios and sure, we've been finding a few new trade ideas over the past couple of weeks – just not for our official portfolios. It will be nice to have a clean start in 2018, 3 portfolios using 3 trading styles with $100,000 (Short-Term, Butterfly and Option Opportunity) and the $500,000 Long-Term Portfolio, which we cashed in at just under $2M after 4 years of trading (Nov, 2013).
We also have Top Trade Alerts at PSW – those are our favorite trade ideas from our Live Member Chat Room each week and they are sent out by Email and Text Alert to our Members as well. Our last Review, published at the end of September, covered the first half of the year and, through May 31st, we had put out 27 Top Trade Alerts (about one a week) and 21 (77%) had already been winners vs 6 losers for a $43,850 profit. That, of course, includes hedges, which are not supposed to win – so a pretty good collection of trade ideas!
In fact, the losers are the main reason our Members love the Top Trade reviews as we get a second chance to look at companies which we considered a good value, that got even cheaper a few months later. In the September Review, we had 3 losing trade ideas in March, April and May so, before we get into the 2nd half trades, let's look at what we did with those losers.
Our Monday, March 20th short on Tesla (TLSA) failed us but we rolled it into another short and got our win in May, so not really a loser but the original trade was. More valuable though, was our discussion of how to play and we'll look at those two new ideas from the September 30th Review:
When a trade like that moves against you, you can roll the short calls. For instance, TSLA is now $340 and the Oct $300 calls are $43.50 and the Jan $340 calls are $31.20 so