We had a really good week this week. Traded a lot less, especially Monday with bank holiday. First of all, day trades were 100%. There were a lot less of them than last week, but the gains on each were good and SPY mostly went one way and there wasn’t a ton of setups. So we played that direction. Biggest winner was the call today which I actually played multiple times.
Next, our SPX MWF expiration day trades. I’m encouraged by all the people who said they started trading it this week, and yeah you don’t make that many trades and they are kinda boring but they make money! We haven’t had a loser since the group started and only needed to manage one. IV is really low right now so we aren’t collecting a ton of credit but we will take what the market gives us.
On swing trades, we only opened one new swing and that was the SPY call yesterday following the big money trades. It worked out great obviously. But the best trade in my opinion was the free TSLA trade. It was free because we sold a put vertical to pay for the butterfly, essentially netting out the cost of the butterfly and creating a no-lose scenario. It ended up being a big profit on both the vertical and the butterfly!
All in all a great week with an appropriate number of trades and plenty of winners. Can’t wait for next week!