OE day, review this month option trade, I made 4 home runs at bearish 30/31 call spread SLV gain: $320, bullish 65/67.5 Put spread RIG $437, bearish AAPL 355/360 call spread $441 and iron condor 610/605 put and 645/650 call GOOG $540;
SPY 128 bearish spread would have been turned from a whole loss (-$650) to a slam +$350 if not adjusted on Wednesday morning, that is my worst trade this month, with a loss of (-$819), what a big lesson!
ADBE bearish 31/32 call OE trading was reduced loss (-$434) after covered the 31 call short, but if I kept the 32 call longer, I have turned it to 1K profit instead of loss, lesson is adjust at the time of break out and let the profit go without being emotionally affected by the previous failed trade!
Another lesson is to review the order carefully before send!!! Made three times opposite trade and had to close it ASAP. TD must be happy with my commission this month!
Overall, option is doing great considering it is my second month of doing spread trading, it is better than my short term trading of stock. Good thing is I started to get the habit of cutting the loss and letting the profit going, except my LDK trading, which my trailing stop is set too tight and was shaken out this big winner with $692 gain.
I'd better print this month's trade and do a full review to remember all the lessons and hopefully, reduce the same mistake next month.
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