Portfolio Update

In my last post I revealed three of my option picks for Monday. As of this post, one of them has been filled but unfortunately has pulled back half way to my stop out price. The other two expired without being filled.

The order that was filled was for V. It open just below the previous day's close and rushed down before retracing all the way back up to be above the previous day's open. This makes this trading day an Bullish Engulfing candle stick. The price movement was a result of the noise of analysis suggesting over performance. But the volume on the day was light, so there is a chance that my prognostication could still come true. Unfortunately, I have concerns because my favorite indicators on a weekly interval show potential strength for a continuation in price. For all of these reasons, my stop-loss order remains in place.

As for the other two orders that expired today. I am resubmitting only one of them, TLT. One of the reasons I am only doing one is because the capital involved in the V position is quite substantial. In fact it takes up the majority of the settled funds I had. Since the NG option assignment was only this past week, the funds from that transaction are not quite settled in my account yet. As a result of that, my second reason is because I am taking a risk of account suspension using unsettled funds in a swing trade. So I decided to resubmit the the order with the highest potential gain. In my opinion, because the ATR, Delta, and distance to most recent high are all greater than those for T, the order for TLT is the better position to make. That is my opinion, you can take it or leave it.

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