Portfolio Update

The market barely moved Wednesday. Along with that, a few things happened to my portfolio. Let's get to it.

For starters, my Put on ETP cashed out for a small net loss because of the commission costs. If not for commissions, I'd be up only $4. Taking that into consideration, let's bring up my last post. In my last post I mentioned that I probably should be considering a change in strategy in one of three ways. Either I could set my stop on the bid price instead of the last sold price, I could tighten my stop still using the last sold price, or I could start cashing out once my position made a set amount of profit. After sleeping on it and seeing the result of using stops on last sold price, I believe I should at least give two of the considerations a shot. I will start cashing out once my position reaches a set amount of profit and set a tighter stop using the last sold price.

On to NG. It continued to rise Wednesday, and if it continues to rise the rest of the week, my stock will probably be assigned according to the call option I sold.

As for my order for a Call on SLV, I got my confirmed price movement and entered into the position a the stop price of 1.55. Currently the options sits at 1.60. In line with my recently made decision about setting a tighter stop using the last sold price, I will be setting my stop on this new position at 1.35 and bump it up as needed. That is my opinion, you can take it or leave it.

Disclaimer: See bottom of page. http://investorsopinion.blogspot.com