While the markets opened up very high to start out, eventually there was a significant drop later in the afternoon. I did get in a couple of successful early trades, there were so many opportunities later, I actually missed a couple of them as they were happening simultaneously. In situation like this, I look at which stock is more volatile, the width of the Bollinger Bands (from low to high, and vice versa) and the strike price bid/ask differential and strike price volume.
With the Daily Options Trading Strategy (DOTS), which I developed, my ideal sell-to-close price above what was paid per contract, is at least 10 % gain per trade. However, it is common to net at least 15 % + per trade, others 7% if the trade is taking a little bit longer than expected.
All of the trades posted below were exited extremely fast from the time of entry.
Here are the trades placed on Tuesday, January 16, 2018:
857. Tuesday, 1/16/18. BIDU at 9:40 am EST. 0.25 STC order above price paid/contract. January 265.00 puts. Paid 4.75 per contract (there was a wider bid/ask price than usual, so I sold early, original 0.60 STC.
858. Tuesday, 1/16/18. SQ at 9:56 am EST. 0.15 STC order above price paid/contract. January 40.00 calls. Paid 0.68 per contract.
859. Tuesday, 1/16/18. BABA at 10:21 am EST. 0.26 STC order above price paid/contract. January 190.00 calls. Paid 1.84 per contract.
860. Tuesday, 1/16/18. GOOGL at 1:04 pm EST. 1.00 STC order above price paid/contract. January 1130.00 calls. paid 8.20 per contract.
861. Tuesday, 1/16/18. BABA at 2:03 pm EST. 0.18 STC order above price paid/contract. January 185.00 calls. paid 1.40 per contract.
862. Tuesday, 1/16/18. NVDA at 2:18 pm EST. 0.25 STC order above price paid/contract. January 220.0 calls. paid 2.10 per contract.
This week is still somewhat slow in terms of earnings trades, with a lot of bank/financial earnings still due, but next week really picks up. Along with the DOTS strategy, earnings trades are a great source of generating income, and require much less stock/chart monitoring.
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