Greetings: Yesterday, I sold a DEC19 Gold 1800-strike CALL for 1.10 ($110).
I bought it back this morning for 3.10 ($310) for a loss of $200
I also made a closing purchase for my short NOV19 Gold 1800 CALL at 1.60($160) for a loss of 0.50 ($50.)
The timing of my selling the DEC19 Gold CALL yesterday could not have been worse, nor is there any way I or anyone else could have seen that Presidential Tweet coming (The Tweet is the way he announced the additional 10% on $300 Billion imports from China.) My timing was unfortunate indeed. I also chose to exit the NOV19 CALL to avoid what might be ahead next week.
Summary of my Positions 02 August 2019:
DEC19 Crude Oil short 80 CALL for .10 ($100)
DEC19 Crude Oil short 40 PUT for 0.18 ($180)
OCT19 Crude Oil 75-strike CALL for 0.05 ($50)
OCT19 Crude Oil 40-strike PUT for 0.07 ($70)
To only state the obvious: No way to forecast what might or might not happen as the media runs through this cycle. – That’s all for today. – Don
The commentary and examples are for teaching purposes only and are not intended to be a trading or trade advisory service. Any investments, trades, and/or speculations made in light of the ideas, opinions, and/or forecasts, expressed or implied herein on the web site and/or newsletter, are committed at your own risk, financial or otherwise. Trading with leverage could lead to greater loss than your initial deposit. Trade at your own risk. Investors and traders are responsible for their own investment/trading decisions including entries, exits, position, sizing and use of stops or lack thereof. This is not a trade advisory service and is for educational purposes only. The content on the pages here is believed to be reliable - but we cannot guarantee it.