Heavy losses of 50% due to the market dump
No one likes losing and at the time same I created my blog so I can record both wins and losses. You play the stock market game and you win and you lose. I did not have time to analyze why the market dropped but seems like it was due to the covid-19 and unemployment.
I’d like to go in detail but there was so much that happened on 7/22 and this was my actual last trading day. On 7/23 and 7/24 I was off but I was still watching the market.
We went out to go camping…one thing to never do is wake up in your tent and have wifi then start trading. That was no fun specially on 7/24 when the market dipped. I should have just stayed asleep or had a mimosa HAHA.
I will just cover BLDP (7/22- 7/23 Swing) and PFE.
BLDP -25%
I knew nothing about this stock. Also please note that the Enter and Exit for this one may or may not be as accurate because I wasn’t in front my computer. I knew BLDP was going to fail on me but it was cheap so I wasn’t too worried about buying it.
PFE +21%
I rarely play bio but this one had very good flow so I wanted to take a shot at it. Earnings is actually tomorrow 7/28. This is the run up to earnings, however this did finis at $38.14 today 7/27. That market really killed a lot of premium on the options side.
S&P 500
As you can see, this is what killed the most option premiums. Of course if you had puts and stuck with it, you would have been fine if you held on. A lot of the option premium and IV was getting killed last week. I already knew that on 7/23 when the market was heading down that on Friday it would not recover. Although I have seen that but I put in consideration there are stock earnings.
