Week #13 March 30 Options Trades:
- Week #5 --> last losing options trading week
- Q1 appears to be a profitable trading quarter!
- SVB Bank was a surprise! Are there more risks ahead?
- Iron Condor --> Safe on PUT ; More risk on CALL.
Today Options Trade / March 30
I adjusted my Jun 16 Iron Condor by adding more risk to the PUT legs. It went from 0.07% to a 1.0% chance of losing. My Iron Condors have more RISK on the CALL side right now, so I will monitor my trades to see if I need to "close" them if the markets continue to be GREEN.
Here are more options trades for March 30:
- SQ has been recovering since the $59 low after the SHORT position.
- I will move my SQ-covered call up to $76 (from $73).
- I will move my RIOT-covered call up to ride the short-term upward trend.
- I will move my F-covered call up to $13.
- I will move my ALLY bank-covered call up to $28.50.
- I will move my Wells Fargo covered call up to $40.
Q1 2023 will be a profitable quarter. I believe I lost money only in one or two week out of the 13 weeks in Q1. Week #5 was the one I remember when QQQ moved against me and I had to close those position for a LOST.
Q2 2023 - More Market Risk Coming?
I don't know what the next show to drop is. The SVB bank closing was a surprise to most people. The FED stepped in and helped the markets. Does this mean everything is good? That is possible as the STOCK MARKET looks to move past that last crisis. However, we can head down again if more BANK runs into trouble.
From an option trading point of view, I will continue to use LONG dated Options for less profit but more time so I can adjust my position. This will lower my ROI for 2023, but I believe it will be easier to manage. In the end, I mostly using Theta Decay to make money right now. When I believe the markets are easier to read, I will return back to my normal 40-60 DTE trades.
How did you do in Q1 of 2023?
Let see what will happen for Q2!
Posted Using LeoFinance Beta
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Following your trades.
Just remember, this is not financial advice.
I'm doing this and might not be suitable for your risk level.
Never invest more than you are willing to lose.
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