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Thursday, February 29, 2024

$25,000 Virtual Portfolio – Week 21 – Goaaaaaaaaaaaaaal!!!

Goaaaaaaaaaaaaaaal!  

We are over our $50,000 mark and right on schedule at the halfway mark!  Not bad considering we began with our aggressive $10,000 virtual portfolio last year, which we ran up to $36,630 - put that $11,630 back in the virtual bank and began this year in February with a $25,000 Virtual Portfolio.

The last major update to our virtual portfolio was back on May 21st.  We do send out Alert updates on a regular basis and discuss the trade ideas daily in Member Chat.  Now we can start July off with a clean $50,000 Virtual Portfolio with the same goal - to double up in 6 months but sticking to the same small allocation hit and run trade ideas that we used (mostly) in the first half.  I urge you to read the original post and 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 June 23rd left us off with $95,072 worth of closed transaction and a virtual net balance of $45,972, with about $49,000 worth of unrealized losses in our still-open positions.

Getting that close to goal with a week to go put us in shut-down mode and we didn't do too much trading last week but we did close the following transactions, which amounted to mainly closing out all of our losing trades for the year, charging them off against our $95,072 worth of winners that we already cashed out.  Our goal was to get those losses under $45,000, so that we'd be left with $50,000 cash:  

  • 40 FAS July 1st $23 calls sold for .95, out at .70 - up $1,000
  • 20 FAS June 24th $25 calls sold for .27, expired worthless - up $540
  • 20 FAS June 24th $24 calls sold for .70, expired worthless - up $1,400
  • 100 QQQ June 24th $55 calls at .04 - expired worthless - down $400
  • 10 QLD July $77/81 bull call spread at $2.40, out at $3.85 - up $1,450
  • 20 USO July 1st $38 puts at .75, sold for .90 - up $300
  • 10 COF July $52.50 calls at .95, out at $1.05 -  up $100
  • 20 FAS July 1st $27 puts at .60, out at .50 - down $200
  • 20 EGLE Sept $3 calls at net .65, out at .10 - down $1,100
  • 20 EGLE June $2.50 calls sold for .30, expired worthless - up $600
  • 40 HOV Aug $2.50 calls at net .80, out at .25 - down $2,200
  • 20 C July $46 calls at .66, out at .14, down $1,040
  • 20 GMCR July $70 puts at net $3.50, no point cashing out - down $7,000
  • 4 CCL July $42 calls at $2.15, no point cashing out - down $860
  • 4 AMZN July $215 calls at $5.25, out at $1.75 - down $1,400
  • 80 FAS Aug $23 calls at net $7.24, out at $3.20 - down $32,320 

As usual, FAS is our little cash machine, making us $2,940 in sales on the week but this time we are taking  our loss of $32,320 off the table as we finally close out the trade.

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