Market Analysis - 2/25/2024
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3/10/2024 - Weekly Recap + Market Predictions
Hi Readers, I hope you are doing well! In this post, I will be covering what my account has been looking like over the past week. Since my positions did not change much over this past week, I will also include the market predictions for the next week in this post as well. I hope you enjoy! WEEKLY RECAP: Monday and Tuesday: I did not trade or make any adjustments on my account Wednesday: I entered a Long QQQ ATM Straddle 10 times in the April 5 expiration date. At the time of purchasing the spread, QQ was near $441, so I purchased the straddle at a $441 strike price. On Wednesday, QQQ was at its high for the day when I purchased the straddles, and for the rest of the day (after I purchased the straddles), QQQ proceeded to go down all the way to around $438, where it ended the day. So, the puts were most likely in the money then. Thursday: I did not trade or make any adjustments on my account. However, on this day, QQQ made a huge spike up, and ended the day at around $446. Friday: ...
Hi readers! Today I will be talking about a spread that I made on my trading account. Here is a photo of my account right now: I did roll over my previous options, since they were not profitable. I made a long QQQ straddle at strike price 382.5 last week, and to make money on this trade, the stock QQQ has to either go down in value enough to cover the premium of the spread, or up in value enough in value to cover the premium of the spread. I paid about $14.80 for each spread, and I bought 10 of them, so in total it cost $14,880. The breakeven points for this spread would be $397.3 to the upside and 367.7 to the downside. The breakeven points are a bit wide because the spread cost relatively more than other straddles. Currently, QQQ is trading at 382.79, and that is a good sign, since I bought the straddle ATM, meaning QQQ was at 382.5 last week. This spread expires at August 25, so QQQ has to make a bigger move before then. I am thinking of buying or selling another op...