6.9 C
New York
Friday, March 29, 2024

$25,000 Virtual Portfolio Update – Week 15 – $33,633

What a crazy quarter we've been having!

The last major update to our virtual portfolio was back on the March 12th and, although we do send out alert updates on a regular basis and discuss the trade ideas daily in Member Chat, I think it's about time we start a fresh page but this one will be brief and I urge you to read the original postand the update if you haven't already to get an idea of what we are trying to learn by following this "hyper-aggressive" virtual portfolio model.  

As promised, it has certainly been a wild ride and our last Alert Update from May 12th left us off with $72,652 worth of closed transaction and a virtual net balance of $34,712.  As is usual around expirations, we reinvested into rolling and improving our remaining positions while cashing out more winners.  

The nature of this strategy is, of course, that the positions that are left open are usually losers but, hopefully, they are losers we are willing to keep working with.  As usual, our worst performing open position is FAS but, also as usual, FAS generates the most weekly cash - even with conservative, 1/2 covers.  Since May 12th, we closed the following:

  • 20 SDS May $20/21 bull call spread at .36, sold for .50 -up $380 
  • 40 FAS May $29 calls sold for .75, bought back at .20 – up $2,200
  • 10 HOV May $3.50 calls sold for .20, expired worthless - up $200 
  • 10 POT May $55 calls sold for $2.70, stopped at .50 – up $2,200
  • 5 AMZN May $205 calls sold for $3.10, expired worthless - up $1,550
  • 10 USO June $39 puts at $1.33, sold for $1.95 - up $620
  • 40 FAS May 27th $29 calls sold for net .35 bought back at .15 – up $800
  • 8 DIA May $127 puts sold for $1.92, bought back at $1.25 (5/6 at 9:48, omitted from last report) - up $536

Once again, we make money on our little FAS cash machines ($3,000), and we spent no money rolling them but we got burned as the June $29s dropped $1 to .75.

Want to see more?

Reap the benefits of one of our paid membership plans and get access to articles like these PLUS:

  • Insightful daily market reviews
  • Educational guides and posts
  • Access to our Virtual Trading portfolios
  • Unique trading opportunities
  • LIVE trading webinars
  • Intraday market commentary from Phil
  • Our community of traders

Our plans pay for themselves — Don't hesitate!

Join Risk-Free Today!
Already a member? Please sign in.

27 COMMENTS

Subscribe
Notify of
27 Comments
Inline Feedbacks
View all comments

Stay Connected

157,450FansLike
396,312FollowersFollow
2,280SubscribersSubscribe

Latest Articles

27
0
Would love your thoughts, please comment.x
()
x