Today's Market Moves
Today I closed the $QQQ position, the Jan18 145/150 @ 0.90 closed for 0.48. I wanted to close it at 0.45 but in the final minutes of the trading day decided that I would leave early instead of risking holding through another potential drop. We've seen a few of those lately in the tech sector.
$AAPL had a big up day today, and I imagine that drove a lot of the Q's gains, on the backs of the announced acquisition of Shazam. I have no idea what that is! Hopefully $AAPL will remain calm for another week and I can get out of my iron condor profitably.
$FXI had another up day today, following through from Friday, and now sits just about centered underneath my iron condor that has turned green for the first time since I put it on. Like with $AAPL, just hoping for some consolidation for another week.
$IWM closed little changed after being up slightly early in the session. This ETF looks like it will do exactly what I would like it to do, consolidate, over the next week.
I never expect all of my trades to be winners when placing them - if I assume an average win rate of about 70%, then out of these 5 I've had, I would expect 1-2 losers. Which ones will be winners and which will be losers can never be guessed, so always have a plan for when you win and when you lose.
I will NOT be looking to reload into new trades. I will be out of state on a little trip to see my Ohio State Buckeyes play USC in the Cotton Bowl on 12/29 and won't be back at my trading desk until the new year. All open positions remaining by 12/26 will be taken off no matter what!