Day Trading Continues/Out of Microchip Calls
I know I didn’t get to my Week Ending report. I’ll be sending it out in a little while.
Today I had a nice day. I continue to work on my Day Trading and so far my strategy is working. Today the DOW was up but the NASDAQ was down for the 4th straight day. Below are the Day Trades I made today. Remember, my goal is to make $200 a day while I practice. With Day Trading I don’t get to write as I make the trades because I have to keep my eyes on the stocks I’m trading. I’m working on a way I can get the trades out immediately for when Day Trading becomes part of Main Street beats Wall Street. It might be an email of the trade only, without an explanation or I might get a Discord sight going. But if theDay Trading goes well I will always be making my normal trades.
All the trades below I was in no longer than an hour.
9/13/21 – Buy 1000 Shares UVXY @ $22.68
9/13/21 – Sell 1000 Shares UVXY @ $22.88
Profit +$200
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9/13/21 – Buy 1000 Shares UVXY @ $22.95
9/13/21 – Sell 1000 Shares UVXY @ $23.25
Profit +$300
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9/13/21 – Buy 1000 Shares BBIG @ $10.19
9/13/21 – Sell 1000 Shares BBIG @ $10.39
Profit +$200
Also, I’m still working on the Microchip (MCHP) split. I owned 2 contracts of the MCHP 1/21/22 $155 Calls. September is the worst month of the year so I expect some volatility. I decided to lock in some profit with the stock up today. I believe it will drop back again. I will be buying more Calls. The stock does a 2:1 split on October 12. I will be in Calls for the split and take advantage of the split. When it splits in October I think the market will start moving higher, after September is gone.
8/31/21 – Buy to Open 2 MCHP 1/21/22 $155.00 C @ $13.00
9/13/21 – Sell toClose 2 MCHP 1/21/22 $155.00 C @ $15.00
Profit +$400
$400 is so much but I only invested $2600. The $400 is a return of 15.3% for the 2 week position. I’ll take it!
Not a bad day!
Successful Trading,
Steve
The Options Coach