Hi readers! I hope everyone is doing well! I apologize for the long wait, here is the update:
The AMD and QQQ positions stayed the same, as I just wanted to hold them until expiration. I was up a decent amount of money on both, but when combining the costs of the previous adjustments on both positions, the profit was not too great. The options expired on the 12th of January, so I closed them out then, and made little profit. I was not too happy with these positions regarding the profits, but I was very happy because I learnt an important lesson.
From this specific round of positions, one thing I learnt was that right after big holidays, or multiple days of the stock exchange closing, stocks are really volatile, as right after New Years, all 3 stocks I had positions on (AMD, QQQ, SPY) went straight down, by a lot as well. The more unfortunate thing was that when making adjustments, I looked at the stock charts and predicted that the stocks would go up, because all 3 stocks were on a big uptrend and had just finished floating around 2 price points for a bit. So, the adjustments I made were more biased towards the sense that if the stock goes up, the position would profit. Then the dip happened, and most of my profits were lost. This is something I have learned from managing these positions, and I will look forward to using this lesson the next time something like this happened.
In the next couple of days, I plan to put on more positions, specifically a straddle on QQQ and a time spread on AMD. I will keep you guys updated on these positions and what happens to them in the next post.
That is it for today's update, and thank you guys for reading! I hope everyone has a great day, and see you in the next update!
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