jay_beckner

I play poker and trade options, seeking edges from study, reflection and analytics.

#016 JPM Puts Closed Loss

If you are viewing on mobile, scroll down for links to adjacent posts and email subscription options for /trades and /blog. Thanks for visiting.

Trade Details: Sold to close 5 Dec 9th JPMorgan Chase & Co (NYSE:JPM) 78 puts for $0.69 (in at $1.09 for 1 day), $337.31 total proceeds. The trade executed at 10:19:48 when the stock was approximately $78.93.

Return: (39.0%) after commissions

Note: What can I say about this trade? Tough to know if it's part of an overtrading pattern that's led to a big drawdown this quarter, a misread of negative price action at yesterday's close, ignoring the economic event calendar or just bad luck.

Given all that I am asking of myself right now (poker, blog writing, trading, trade writing, developing analytics, studying, holidays, ...), I'm not as focused as I should be on the trading process. For now at least, I need to narrow my focus, and I started today by reducing the number of stocks on my watchlist and eliminating the Momentum (9) indicator from my charts.

As stated in the opening trade write-up, JPM spiked in the last five minutes of yesterday's trade (immediately after I entered the put options). The stock opened higher this morning, dislocating the contract price below my $0.83 stop - a tough spot. When the strong open faced selling, the stock looked like it wanted to test yesterday's lows, but the move higher resumed after a positive consumer confidence number. In the context of broader market strength and other traders closing put trades (and adding calls), that strength prompted my exit.

Status: Account $1,053.77 | Q2 Return (72.5%) | Q2 Goal 59%

#017 AMZN Calls Day Loss

#016 JPM Puts