I had to exit my Crude Oil PUTS this morning with losses.
I made a closing purchase to close out my short OCT19 40-strike PUT at 0.13
It was sold for 0.07, so the loss is -$50 (.05) not including commissions.
I made a closing purchase to close out my short DEC19 40-strike PUT at .48 ($480)
It was sold at 0.18 ($180), so the loss is -$300 not including commissions.
Comment: Far too much risk and uncertainty to try and see what is next. Gold is up over $30/ounce this morning, the flight to save-haven — and investor confidence is eroding rapidly.
Summary of my Positions 07 August 2019:
DEC19 Crude Oil short 80 CALL for .10 ($100)
OCT19 Crude Oil 75-strike CALL for 0.05 ($50)
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.