Trading a Smaller Account | Barbara Armstrong | 1-22-21 | Bullish Trades & Trade Management

Trading a Smaller Account | Barbara Armstrong | 1-22-21 | Bullish Trades & Trade Management

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all right well it looks like the gang is all here happy friday everyone so glad to have you on board for trading a smaller account so in this account we trade options we trade stocks we trade a lot we trade quickly and we pack as much as we can into 45 minutes so thank you for choosing to join me today whether you're joining us live or in the archive stick around lots of great stuff coming your way [Music] all righty so like i said in this class we do as much as we can in 45 minutes so i am going to pause part way through if you have questions i'll do my very best to get to as many of those questions as i can we also have the privilege of having mike fairborne in the chat with us today so he brings with him a wealth of experience and so if you have questions mike will do his best to answer as many as he can as well so we had people tuning in 10 15 minutes ahead kudos to radio wayne for being the first one to type into the chat welcome to john denis who is here for the first time zen c casey well white belt investor i love that name yoko daryl and many many others thank you so much for taking time out of your friday to invest in your future and all i can say is your future self will be very glad of this investment in time and energy that you are making now so let's get right out to our important information and then we can get to the platform where the magic happens notice above my head is my twitter handle i am a prodigious poster so i'm posting pretty much every day you're missing lots of great content my friends if you aren't taking advantage of that i encourage you to follow both myself and mike fairborne on twitter at be armstrong underscore tda and at amfairborn underscore tda if you're saying i just can't handle one more social media account i felt exactly the same way but what i did was i i opened an account just for my trading life and at the end of the day i think it's important to laugh so um you know every once in a while i'll post something a little funny um and i will talk about uh a trading journal um i'll don't know if i'm going to get to that during the class but if i don't um i'll post something on trading journals on twitter okay edward okay so know that we trade a lot of options in this class um and know that options aren't suitable for all investors there are special risks inherent to options trading that can expose investors to potentially rapid and substantial losses we are very big on managing our losses in this class and so we always talk about the losses and the potential for loss also know that we use lots of examples in this class each and every week and in order to demonstrate the functionality of the platform and the concepts that we're talking about so we've got lots of symbols happening lots of trading strategies happening not to be construed as a recommendation on the part of td ameritrade or myself any decision you make on your in your live account that is on you my friends okay and know that stop losses don't guarantee that you'll get out at a specific price okay alrighty so this always looks remarkably similar doesn't it like teeny tiny agenda but we try and um achieve phenomenal cosmic trading status you know in our 45 minutes together we're gonna have a super quick look at the market um you know i post something at the end of every trading day on how the nasdaq and the s p 500 did this week i mean it kept hitting new high new high new high you know today pulling back a little bit and yesterday pulling back a little bit but the markets are very bullish at the moment we're going to take a look at our current portfolio that we wiped the slate clean on and started a fresh the first week of january and then we're gonna add some new example positions okay so that's what we're up to oh sorry now let's get over to the platform there we go i have a do you remember for those of you who were with me last year we joked a lot about trot crocs we traded a lot of crocs and um yeah we had a lot of fun with that but sadly crocs is now kind of out of um it's out of our price point you know it's up in the 70 range so um you know we there are some things we might be able to do with respect to this stock but yeah we had to love it and move on okay so the market so well let's do market first i don't want to give you whiplash here we started by the way in this account with a 20 000 account so i just added another account to this portfolio but here is our account we started at 20 000 at the beginning of january we're up wow we're up 1200 and while you may say well that's not all that and a bag of chips i mean twelve hundred dollars in less than a month when we divide that by our twenty thousand dollar start and half of it isn't even invested that's six percent so if we just said wow if we could get a six percent return every month you know my math isn't that fantastic but six times 12 is 72 that could be 72 now did we do that in our account last year no we were up about fifty percent uh but fifty percent is is a lot and you know if you think about um and is there any guarantee that by the end of the month we'll still be up six percent we could be end up being in the hole but one of the things that i i want you guys to be aware of if you've never looked at this there's a calculator um and it's called money chimp well it's a compound interest calculator is what it is and so if you looked at that and you said you know what if i could even get a two percent return like last year we had 20 000 by the end of the year i think it was close to 29 000. so if we said okay if we had that you know we have 20 000 right now and if every we're not even going to add to it every year but if you were in your 20s and you could give that 40 years to grow and we could end up with a 12 return annually or 2 a month we're currently at at 12 and we caught if we could compound that monthly what could that turn into that's two point almost 2.4 million now is there any guarantee that that would happen well no absolutely not but i'm saying the power of compounding and this is why in this class we try and take little profit little profit and sometimes big truck profit i mean we've had some like crocs and neo where we bought the stock and it may have come close to doubling or doubled in value there's a question in the chat asking if each instructor has their own paper account and we do yes we do uh oh kirk fellow skier yes he's actually uh in the neighborhood so great to have you on board kirk so okay so let's get back out to think or swim i'm having one of those days it's friday i keep walking around going i see a squirrel do you ever have one of those days okay so uh spx that's where we were s p 500 so we can see yesterday hit a new all-time high and you know we're in up close and personal here but if we back the truck up a little bit you know since it hit its low down here a pretty extraordinary gain right and you know if you wanted to see just how much that gain was for those of you that are new if you come down here and you change it to this diagonal drawing tool and click at the bottom and then drag up from the bottom it's up 73 from the low of the market back on i think it was march 23rd of last year and the nasdaq is up even more you know so if we were to do this again and again yesterday all-time high kind of catching its breath today but market is very bullish so there was a question in the chat saying like hey a lot of the webcasts that are being watched there's a lot of bullish trades happening now if you want to see how to protect yourself to the down side james boyd teaches a class on wednesdays called callers and synthetics and he's he i know that he placed a couple of trades where he's you know bracketing his position by buying a put and selling a call as a means of protecting himself to the downside so there are strategies you can employ to do that but we in this class try to run with the trend but even if every position went against us we are never risking more than four hundred dollars on any one trade so that is a nice way to segue into well where are we right now and so if we come and we look at our positions we have a position on lkq and we're actually in the hole on that one to the tune of 144 dollars so if we come up to the charts and we look at lkq we got in it on this day here and then you know had a nice move to the upside and it's been kind of consolidating and it's come down and today it's sitting on that 30-day moving average if it closes much below that let's see where we've put our stop so one of the easy ways to see where our stops are is to come in here and say show us our orders wow so this is quite a ways down so i think on this one what we would do if this was the end of the trading day what we'll do is we would go in and say hey if this goes three percent below here this has broken below this old resistance we were hoping would become new support so and if it hasn't we would move our stop up so often with a trend trading stock and so let's go ahead and do this so the low today is 36.73 i'll try using this this thing is my kind of nemesis i can do it so much faster on that my desk calculator 3673 i didn't get the decimal in there but times 0.97 so 3562 so we're going to come here and we can just click it and actually drag it 35 62 okay that's pretty close and then if we want to get really specific we can come in here and edit it and say we want this to be 3562 confirm and send and so we've moved our stop up on this now if you're not familiar with this company we can come to the analyze tab it's in the consumer discretionary sector and it is auto parts auto part so we're figuring with the pandemic you know people are still going to need a way to get from a to b if you live where i live there's not a lot of public transit except like if you cut through my yard you can get on a shuttle to go up to the ski hill but um yeah it's not really a hill these are some pretty world-class mountains around here but yeah so whether you're fixing it yourself or taking it to someone who's fixing it for you we seem to think that auto parts might be a good market then we also have a position in apps and i'm going to go through these pretty quickly so with apps this is something that we had traded before and done pretty well on but it's now like at the top end of our price range because one of our rules is we have this twenty thousand dollar account and we can't take a position size bigger than five thousand dollars and so the way we were able to trade this was we bought a hundred shares and then we sold a call that we got paid three dollars and seventy cents for do you see that so we got paid and seventy cents we paid fifty one fifty which is over our ticket like we're not supposed to spend more than 50 but the net came out to 47.81 so we were okay now the stock is now at 66.34

so but we have 28 days left to go and we're already up 800 on this um you know which on a 20 000 account is a nice chunk of change but if we look at this if we were to exit now we'd get out at 56 basically 55.98 i'm going to call that 56 dollars a share and if we wait until we get called out we'd get another 400 for a total of 1200 but even this extra 400 and there's no guarantee it'll stay above 66 but let's say that it did and we end up exiting the position um then you know that's another two percent on our total account value let alone you know 400 on a 47 investment is close to another 10 so we're going to just leave it so white belt investor in the chat is saying i hate that when something blows through a covered call you know after we do a covered call but our idea on this as you'll recall if you go back to when we placed this trade a week or so ago was that and let me just kind of wipe my slate clean and we'll start it again so the idea behind this and it's important and then don't worry we'll get to some new treats excuse me okay so we paid 47.81 and if we get called out at 60 that's like a 1220 dollar gain or a 12 and 20 cents a share gain on a 47 investment so 12 20 divided by 47 sorry 81. that's a 25 return on our investment for a trade that we were going to be in for 35 or 40 days sorry just a sec i think i've got a cough drop in here um okay so if we get called out at 60 we're okay with that but white belt we had this happen with um plug just before year end where it didn't just go through a little bit like it it busted through the gates and went through by a country mile and yes it it does make your heartache a little bit but if you were to say to one of your friends you know i just earned a 25 return on a trade that i was in for just over a month do you think they are going to be passing you a tissue they are not so there you go okay so we're moving on so that is doing what we need it to do and we're we're going to leave that to try and get a little bit more of that um return that's still on the table and when we come and we look at apps i'm kind of a visual person we can see i mean it just moved up almost five four dollars and 46 cents a share today so it moved up quite a bit um but you know we were we were bullish on it and because of our constraints because of our position size um you know we did what we could and so that was one of the ways now um if we did a synthetic that would have been a possibility for us but you know we bought it in here and one of the concerns was what if it comes up and then doesn't go through um you know so so anyway that's what we did and that's where we are i don't want to spend too long on these short put vertical okay so you'll see we have earnings coming up on this and my bad because one of our rules is that we don't um we don't place a trade over earnings and earnings is on the 27th and this expires on the 29th so apple has done quite nicely and we are now up almost 77 so i was going to put in an exit because we don't have an exit on this but you know what we're up 83 dollars and again well some may say 83 like that's not a lot but a hundred dollars in this account is half of one percent of the account value we started with yeah so um and that's it you know 77 and we don't want to hold this over earnings because what the market can give us the market can take it away and we would hate to grab defeat from the jaws of victory so here we have you know we got into this you know just over a week ago right january what day was that we got into this january 8th so you know if we could do one or two of these you know a week or even a month now the problem right now is we're in the middle of earnings season it makes it a lot harder so we're just going to exit this we are going to thank the trading gods as i like to say not to you know be disrespectful in any way but for um a profitable trade and we're going to close this down because we do not want to be in this over earnings now if earnings wasn't coming up we might have chosen to just put in an exit to say you know when this is worth 10 cents get us out at 80 we're close to that now so we want to buy this position back and if it doesn't say to close then go back and look at it again because we're closing this position out okay right so apple is one of those stocks that we traded heavily last year primarily by doing short puts we did some also long call verticals and so we could do that as well although right now just before earnings premiums are going to be higher so that's that one nike we're kind of behind on nike and that's another short put vertical 138 136 are our strikes and it's sitting at 140. so again when we come up to microsoft and you know i'm looking at this and then i don't know why this isn't showing up it says october november december january so we probably have earnings coming up on this is this microsoft or nike oh this is nike sorry we've already had earnings on we looked at doing a trade on microsoft and somebody noticed that earnings was coming up so kudos to whoever did that so this one you know we got into this last week and it's been kind of going a whole lot of nowhere but it it it's welcome to go a whole lot of nowhere and we'll still have a profitable trade as long as this support level holds and that's why we placed this trade where we did so we're just going to let that one percolate and hopefully let the numbers you know help work in our favor so that's nike and then we did two cache secured well we did actually did three we did two unplug and if you go back and watch the archive on this we did one which was a more aggressive entry and said we're just going to put the trade in we're bullish on plug we think we'll be fine and we put it in and we got paid 4.35 cents and then we did an example and we said um we're going to be more conservative and we're going to put in a conditional order that we only want to sell this put if it goes above the high of whatever that day was so if we come and we look at plug and when we sell a put right we're obligating ourselves to buy the stock and so if we kind of look at this here's our fifty dollar strike and that's what we sold was the fifty dollar put here was our more aggressive entry on plug and again this is one that i think that we had traded this is the one that we've done the two buy rights on so we would have had our max gain but it went up way more than we we expected and it's now kind of out of our snack bracket because at 65 83 we could just buy 50 shares if we wanted and we might do that but to buy a hundred shares would be kind of out of our price range but we sold these puts saying hey if it came down to 50 we'd be okay with buying it and so far on these you know we're up almost 60 percent and so you know we can give these you know we've got 28 days left but you know a lot of investors could look at this and say hey five 461 dollars were up on this that's that's a lot on our that's over what two percent two and a half percent on our total account you might choose to just take that profit and put it in your pocket and there would be no one that faulted you with doing that but when we look at the technicals and say hey we had a some might call this a bull flag and kind of a stiff breeze because we've had it come to the upside and then come down and today we're getting this you know entry above the high of the low day so you know this is a renewable energy company the biden administration just sworn in so if we continue to be bullish we might let this go for another week but to take our 50 um some might be you know totally happy with that well and actually it's almost 60 okay and then snap we have sold the 50 put so this is another um instance where you know we've got a short put we're up 27 we sold the 50 it's trading at 53.46

and this chart i don't think is quite as appealing but here we are and so we could look at this and say hey you know if this just you know settles in for a day or so and continues on we'll you know maybe we stay with the trade and there's nothing wrong with saying and my spidey sense isn't great on this one and then you could choose to exit even if um you know you don't have a break in support you don't have to wait until it's a losing trade but so far you know if it's going sideways it can continue to go sideways and we'll do just fine okay so now our list of entries for today okay fcx is one that we bought last year and it kind of brought a tear to our eye to just wipe it out because we had bought it back here you can see our little arrow you know it was 16 and it's now you know we'd be up almost 100 percent on that and then it started going sideways again and and kind of took off and today we're looking at it you know consolidating to begin you know is this a consolidation now some might say well i'd rather wait until it breaks out above this 32 level sorry let me come in here transit and others might say the trend is continuing we saw it pull back for a couple of days i would be fine with entering now so the advantage in entering now is if you wanted to use the 30-day moving average and when we look back over the last six months the 30-day moving average seems to have served along with the 10-day moving average as a support level so this gives it some room to breathe at 27.39 if i came back and said 2739 and if we went 3 percent below that sorry 27 let's just call it 2740 times 0.97 26.57 if we got in today

we'd be risking a about 375 dollars so if it goes up much more we'd have to look at waiting for it to break out so that our stop could be below this resistance level um otherwise we we'd have too big a risk position so we're going to just come in and re-add this to our portfolio if you're not familiar with the company it's in the materials sector well why is that significant well if we come out here to td ameritrade and we type in fcx you might want to do your research on this company if you're not familiar with it come over here to the smart score and look under the covers and maybe look at some of the news but if we come to research and ideas sectors and industries and we do have earnings coming up on fcx now some people will say i'm not going to buy if it's a week before earnings some will get in if they think the trend is strong but there is risk because it could either gap like netflix did to the upside or it could gap like ibm did to the downside so but if we come here to the market monitor and i do this a lot in the building blocks for a self-directed portfolio if any of you join me for that we come to the change of time frame and we're going to look at the last three months because this is a longer term trade financials consumer discretionary materials and energy are the top four what about the last 30 days well now this one has slid to fifth place but it's still in the top five so we're going to add 100 shares and we're going to put in a stop we're going to put in the notes that it is just before earnings okay so fcx we're going to come to the trade tab 100 shares is 3 000 so that's a position size that we can afford to take we are going to buy custom with a stop our stop is going to be at 26.25 and actually you know what rather than doing a stop we're going to do an alert because sometimes with earnings to stock a whip saw and you hate to get like nicked out on a wick um you hate to get nicked out on a wick and then end up um with the stock up dramatically by the end of the day so we're just going to buy a hundred shares we're gonna put it in our trend trading bucket and then i'm going to come back to the chart and i'm going to get rid of this show orders and what we're going to do is say we want to get a notice if it goes below the low of this day around that 29 dollar mark we're going to put in an alert and say if it goes at or below 29 dollars do we reconsider this position okay so that's that one okay that's fcx i want to look at another one now you'll notice when we were over here on the market monitor tab that financials were one of the strongest sectors so and this is just our day i thought i still had this up here change our time frame three months so we've got energy and then financials and so when we come and we look at bank of america now i swore i would never buy bank of america stock because i went in when i i lived in michigan i went into a local bank and it's just i was staggered by um their take on customer service like they just didn't answer their phone if they were busy didn't go to voicemail nothing they just didn't bother to answer their phone if they were busy which kind of blew my mind um but if we look at this here's a stock that's been up trending just came with earnings and you know it beat on earnings and though even though it's pulled back for a couple of days a lot of the banking stocks have been doing well and so if we look at this trend and we say okay if it goes above today's high could we just trade it back up to this 34 dollar mark and do this as a swing trade yeah so you know somebody saying bank of america i'm not going to repeat the comments but they're not um super super positive um but you know what when you look at the stock and we take a look at is the sector strong yes it is um and you know a lot of banks went a whole lot of nowhere but if we come to the trade tab even we look at it pays a dividend of 2.28 percent it has a a price earnings ratio of under 2016 which shows good value in a market that many are considering to start being frothy like a lot of these price earnings ratios are very very high and so people are kind of starting to look maybe for um uh that they're looking for some value so are is this a long-term lava fare no we're just saying like what if we just got in this and and put in an exit at 34 or 34.25 so if we looked at this what was our high that day um on the close 3348 you know so or 34 we could call it 34.

so and if we look at today's candle and we said okay today the high is 31.69 so i only want to get in if it goes above 31.79 so how would i put that in and then when would i want to get out given that i get in well if our we're at 30 79 and we're saying okay this 30-day moving average has been holding support i'm just going to use my calculator 3079 times 0.97 29.86 would be my stop okay so i'm going to come to the trade tab i'm going to right click because we're buying stock and again it's in our price range we want to buy custom with an oco bracket so we're saying hey if this when this hits uh 34 get us out and we're going to make that good till cancelled or if it comes down and it hits 29.86 not going in the right direction we want out and then here we're going to make this and and you know some there's lots of ways to put this in for me this was just the easiest way to think about it and so this is how i do it i want to get in if and only or when and only when this goes above 31.79

so when it hits 31.79 which is 10 cents above today's high then i'd consider getting in okay save fire in the hole and many people they will read this out loud to themselves i want to buy a hundred oh this is saying i want to buy a hundred shares at 34 to open that's wrong i messed up my order so here i want this to be when it goes at or above 34 i want to sell it sorry guys i made a mistake and this is why you know i didn't do that on purpose trust me um so we want to sell it when it hits 34 that's our exit and we want to buy only if it goes above yeah i've been doing this for years you think i'd have not made that kind of mistake but you know i was listening to a professional trader talk about trading and he said and i am not a professional traitor that like make no mistake but he said like people are going to make mistakes because they're human beings and so one of the reasons that we suggest reading something out loud is so that if you've made a mistake you have a better chance of catching that mistake so we want to buy a hundred shares of bank of america when it goes above 31.79 which is 10 cents above today's high right now it's trading at 31.56 so it may not fill today but we're making that good till cancelled and then we want to sell it when it hits our target at 34 or if the trade goes against us and it hits 29.86

we want out and so you know that's about 300 of risk that we're taking so that's within our parameters and we could put this in a new bucket and call it a swing trade so it's a short-term trade so when that fills it'll go into um you know uh a catch-all category and then we'll create a swing trading category for it okay so there's one other one that we may just have time for before we wrap everybody cool to do one more you're gonna laugh because it's one that we traded an awful lot last year and did um you know very well on does that mean we'll do well this year no it could be an absolute disaster but our friend neo so we joked about um about neo um but we this was a stock that we did well on and so it's come out it's broken above pulled back old resistance becoming new support and today it's bouncing now what's the problem well the problem is that the stock has done so well i think we first bought it at 20 and then sold it at 40 and took our 100 gain and um and you know now it's bouncing and we can't just buy it but could we come and sell the 50 put because remember you know at 50 we could buy it and so if we kind of look at this and we say okay i'm coming out to the trade tab if i come out and look at you know is the 50 even possible well if we come out to march and do this as a longer term trade the premium is pretty juicy it's three dollars and eighty cents now we could just come out to february and do something shorter so let's go to give us 30. see and and if we look here you know here's the 55 there were 1500 contracts traded on that today just today there are 8 000 contracts on the books so this is a very heavily traded stock so this is an electric car company in china that only sells in china so here this would be a dollar 35 there were 3 000 contracts traded today on this you have an 84 chance of that you know of that expiring worthless or we could give it a little more time and come out here to march and say i'm willing to be in it twice as long to make three times as much money the odds of it being assigned to us is a little bit higher but we still have a 77 chance of it expiring worthless so we're going to come in right click sell one put on neo at three dollars and 80 cents okay so we're doing that um and we'll see here's our cash and sweep is 12740 buying power because this is a margin account uh it's not a vertical so i was looking for opportunities for verticals because i i like to add um verticals but with earnings season we're really trying to um so there we go we got in on that one so there's a question on tesla and is it is it building a base so tesla i believe earnings is next week an easy way if it's not showing up on the chart for some reason even though i've got lots of space here it's not showing up on my chart so the easiest way come to the market watch and then you can link this even to your watch list so i've got it linked to my chart so if i was looking at tesla we've got earnings coming up on tesla next week yeah so sam is saying were you trying to write bougie or major bogey um yeah so large cap stocks i really enjoy trading large cap stocks the problem right now is that a lot of the stocks so i looked at tesla for example i went through every stock on the nasdaq 100 all the stocks on the um dow 30 but if you bring up and then i got through half of the ones on you can see the s p 100 but here's the challenge so if we come to our public watch list like the nasdaq and your rule on a short put vertical is you don't trade over earnings we have an awful lot of earnings coming up and tesla's one of them so here's something that's kind of consolidating and you could say well you know i could sell a short put vertical here but earnings is next week now and you know and this is flat for a while this is since january 8th my friends like it's 12 days you know it's not exactly like netflix went sideways for months and i looked at netflix because it just gapped up nicely to the upside it's been in this range since july trading between about 460 and 560 and it's pulled right down but is that an entry today so old resistance becoming new support but we don't have a candle that says yes it's about to bounce do we so as much as we might love to put on a short put vertical patience my friends sometimes the best trade is the trade you don't take okay so i'm going to have a quick peek at the questions are there any questions on on what we've done been doing so far now zoom was down trending the last i looked and because the market is so bullish to trade zoom even if you wanted to do a short call vertical it's a counter trend trade and when the market is up trending and you're doing a bearish trade in a bullish market you want to make darn sure you're in a sector that is at the bottom of the heap and you know so this is why we have been choosing to do more bullish trades um okay so i have a question on buckets i've been asked this two or three times today so we can come over here and add a group so you see these three little dots and i'm going to call it swing trading because that trade that didn't fill that is going to go in our swing trading group so we're going to call it swing trading and it will show up at the top and if you say well i don't really want it at the top i want it underneath the trend trading growth stocks you can you can um yeah you can move them around so if you looked at this and said i want that to be below you can just move it down one so now it's trend trading growth then swing trading or if you say well i want my short term trades to be at the top you know you can you can move it around how do you screen for uh like a plug or an fcx um you know i went into the td uh td and at the time i was looking for stocks that were under 50 dollars a share that were in certain um groups and so you can come here to research and ideas and come over to screeners and then you can when you put in your screen so here's one for materials or let's say it it doesn't matter which one i pick if i pick financials and modify screen so you can pick one you've already saved but when you come down you can say okay here's volume here's the price i can say you know i don't want it to be more than 50 so i can highlight this and and i don't want it to be less than five and i want it to trade more than a million shares a day because i want liquidity in it and if you wanted to pay a dividend you could say you know and i wanted to pay a dividend like so you can you can do all of that so that's how i tend to look for stocks for this class um okay any possibility with neo that we might get caught up with the current move to list chinese adr so this is one of the things and thank you for asking that question mark because it is a chi a a company based in china that is currently only selling cars in china um its it plan is i think by the middle of next year to be selling cars in europe and if you've looked at these cars like i'm thinking utilitarian boring as all get out oh yeah i was very wrong about that so go google what they look like pretty hot looking cars and i mean the speed at which they can you know they can get up to speed very quickly it's not like your granola eating birkenstock wearing person's choice for a car i is the way i would describe a neo it's a pretty slick looking vehicle but yeah there's always that possibility so there's a risk that we're taking there but you probably be given some time to exit but i highly doubt that given our current administration that we would be likely to see that but i could be wrong and i can't really speculate on what biden will do he hasn't called me lately so um so somebody's saying he's been doing 100 point spreads on the iron condor i think that's a really great strategy when something is going sideways um but many things in the market are not going sideways right now um oh yes so yeah somebody said neo's delivering cars to europe by the end of this year so and yes uh tesla's been building a base there was a comment in the chat about that um oh somebody said that they made a mistake and they thought they were placing a trade in their paper money account they put it in their live account and it actually worked out really well i had that happen one time my default in my live account was to 10 contracts and i only meant to buy one but i bought 10 and then it went up like crazy the next day and um yeah that was a little gift but if it had gone down it would have been pretty i would have been sad um yeah i used to own neo at 11 yes and i had a thousand shares of square at 16. i

no longer have those um yeah and square is like what over 200 now um am i going to buy crocs again the problem is like it's out of our price range those cheap ugly shoes can you believe it um but i do have a pair sitting at my back door ready to go the hot tub okay so i think we've got this most of them if i've missed any questions and i know that mike got a lot of them and if you're a beginner and you hung through this whole thing kudos to you for doing that i applaud you if it was a bit like drinking out of a fire hose the strategies we talked about short put verticals the buy rights i will post a link to an introductory class because even more people go to watch getting started with options on friday mornings at 11 and i take one strategy a week and we just go through what's the appeal how do you trade it what are the risks so i'll put links in to a couple of those but you can always find them in the archives also so thank you so much for joining me today thanks for hanging with me through this i think we did what we said we were going to do our a b and c we we looked at our current positions we added some new example positions we threw in a lot of extra stuff on the side so um know that again options aren't suitable for all investors know that at all investing involves risk and all i can say is keep coming back you're worth it i hope you had as much fun participating in this as i did teaching it thanks to mike fairborne for being so great in the chat have an awesome weekend everyone if you enjoyed this if you could hit that like button so other people will know that it's a good class to listen to that would be awesome if you haven't subscribed to this channel please do so and i don't know if there's a survey in the chat this afternoon or not but if a survey was posted i appreciate you filling it out my promise to you is if you promise to fill it out i promise to read each and every comment let me know what you loved what you'd like to see more of and um you know and i take that very much to heart because i'm doing this for you so again have an awesome weekend stay safe everyone and i will see you in a webcast coming up soon bye for now

2021-01-26 15:45

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