Finding Bulls Amongst the Bears | Trading a Smaller Account
[Music] all right good morning everyone no i guess i haven't done much talking yet today um welcome to another episode of trading a smaller account i don't know about you but i absolutely love this class it is jam-packed again today the whiplash in the markets has continued the downtrend in the market has continued although yesterday was a day of respite and it would appear that we may be getting a break again today so who knows what will happen but whatever happens we in this class are set up to try and take advantage of it so my sleeves are rolled up i hope yours are rolled up too and let's get down to business so what we're going to do today is take a look at what's happening in the market and we're going to place some short-term trades to try and take advantage of those things that are happening okay so here we go i'd like to start by just welcoming everyone and thanking you all for being here so to doug who was the first one in the chat this morning just let me move this i don't know why but it looks like i'm having trouble moving my chat uh let me just pop it out let me do something here okay alrighty because my chat was frozen so good morning to doug and saul and vijay and jules island gal love your name um and robert and lamar and uh ena and michael and the rest of the gang thank you one and all for showing up every friday morning i know if you're on the west coast it's uh 6 30 and you know barely light out and if you're in the east coast you're taking time out of you know the start of a busy morning so thank you for being here if you've got questions we have the privilege of having pat mullally with us in the chat he teaches some of our most popular webcasts throughout the the week including one that is today at two o'clock eastern called um advanced charting so if you want to become a ninja in understanding the charts then you need to be following pat malali so and we have the privilege of having him here so if you've got questions between pat and i hopefully we have got answers for you um the other way to get in touch with pat and i and for pat and i to communicate with you on a daily basis is through uh the land of the bluebird called twitter at b armstrong underscore tda is my handle pats is at pima lolly underscore tda we're posting news you can use there on a daily basis you may have noticed if you are following me on twitter that the first of the trade management mini sessions is now posted and i did post a link to that there okay so let's get through our important information so that we can get out to the platform where the magic happens know that this is an intermediate level class i move quickly in this class so if it feels a bit like drinking out of a fire hose just know that every trading strategy i discuss i have an introductory class in the getting started with options series that where we go step by step and at a much slower pace um yeah so you can always check those out as well but know that everything we do in this class is for example purposes only none of it to be construed as a recommendation on the part of td ameritrade all myself know that options aren't suitable for all investors there are special risks inherent to options trading that may expose investors to potentially rapid and substantial losses we discuss the potential risk and reward in every trade we place and it's critical that we understand those right right if you're new to td ameritrade you have to apply for option trading privileges same goes for futures but in our paper money account we don't have to apply for anything we can trade whatever we like in order to demonstrate both the concepts that we're talking about and the functionality of the platform we use actual symbols and we use the td ameritrade thinkorswim paper money platform um yeah so and you don't have to understand everything about the platform i mean i am still uh learning things about the thinkorswim platform and i've been looking at that thing for 10 years now okay know that all investing involves risk and i think now we can move on okay so what's on the menu for today well i mean you know we come and we look at this thing and it's like okay does she ever change it and and i do um not not terribly often but we're going to look at what's going on in the market we're going to manage a few trades and part of that trade management is going to be pointing you to a few places because if we did manage every trade in this class we would have no time to place new trades so um we're you know we've got a number of trades to review today um not the 13 that we had last friday but close uh so we're going to talk about that okay let me grab my sheet here okay and then we're going to place some new trades yeah okay so that's what's on the menu let me come over to the chat so somebody said that they saw the mini class so um i'm doing these trade management mini sessions i'll probably do on average one a week i've done two now the first one is posted i'm hoping that we'll see the second one later today and so i will post those on twitter with some kind of cute gift to draw your attention so here's the first one the first trade management mini session um and we discussed amd airbnb and etsy and here's the link where else can you find it oh sorry i'm still on full screen okay so here's i'm on twitter now so here's the first one that i posted on my stream like i said when i post them i'll post some kind of silly gif so you'll know oh there's another mini class mini session that's been posted the other thing you can do is just come out to your trading platform and type in trader talk so if you are not following us and if you haven't subscribed to the trader talks channel you'll want to do that and come down to trader talks webcast from td ameritrade and then you want to come to playlists and when you come to playlists uh the trading a smaller account is on the left hand side about four down from the top and if you view the full playlist these mini sessions you'll see it labeled a trade management mini session they'll be here as well okay so they have begun and i kind of talk a little bit in these about you know are what we were doing when we placed the trade and i also put a link in there to when we place the trade so you can go back and watch that webcast if you like so it's a bit of work to put those together but i think totally worth it to free up some time for us in this class okay so anyway i digressed into the trade management there for for a sec but let's come and see what's going on in the market spoiler alert we may be looking at oxy today okay so here's our s p it looks like we're moving up we're up three quarters of a percent of course we are very very early in the day right right so by the end of the day who knows what might be happening but when we look at this still i mean you know down 18 year-to-date at one point we were down 19.7 so knocking on that official door of this is a bear market and most people you know they aren't necessarily waiting for hit it to hit 20 when we look at some of the other indices we're already there what other indices might those be um in just one sec here so just to feed the bulls in the crowd should there be you know some remaining or you know we we know that with every downturn eventually things come back so you know we saw an old support level here right came down several times to this neighborhood it came up oh is this now a new resistance could be or is this setting up either a new range or a potential double bottom which then if it broke out you'd measure from here to here and expect it to go up maybe that much or are we just establishing a new range this potential target how did we come up with that well we said well it was trading in a range here you know where this was our resistance or ceiling this was our floor so if you measure that that would give us a target in that neighborhood of 3 600. okay i saw that someone said they were late that's okay as long as you have a hall pass and you don't do it again yeah of course these are archives so if you come in halfway through you know not a problem and you know with the nasdaq we're we're down 27 so if you're tech heavy man those wounds hurt if you're still in some of those stocks there's a lot of stuff that is down a lot just a tremendous amount and i reposted something from someone else on twitter just looking at a number of different stocks and how much they're down how much they were up and how much they've come down um yeah and it's it's kind of brutal and that's on twitter so you can go out and scroll through i posted that in the last few days so looks like we're bouncing today almost up one percent but again please note we're still below the 10 day we're still below the 30 day the 200 you d need binoculars to see so this downtrend and you know for those that like to draw things on the chart and that would be me um you know if you're looking for a diagonal resistance breakout it is not there yet so even though we have an up day today um that doesn't mean that the downtrend is not continuing okay so i know uh not not cheery news unless you know how to trade options and then you can say okay well at least now i have a feeling on on where the market may be going um and and then we have our russell and the russell also you know world of pain down over 20 so officially in bare territory you know we had this range it was in for most of last year from 2132 to 2360 and you know this is where i find um i i find technical analysis fascinating you know that it was about a 230 point range and then it came down by how much uh about 230 points you know ish and then it broke out again and how much did it come down by yeah another 200 and some points so you know there's a reason people you track this stuff right and where did it come down to right in this neighborhood again so will it be establishing a new range we do have a low and it would appear a higher low but again you know for those that like to draw lines on the chart you know if you're drawing a diagonal resistance line even if you chop off that other top we're certainly not above it okay and the last of the four major ones that you tend to hear pundits talk about is the dao and with the dow 30 you know year this is year to date so again this one we're down the least at only 14 but that's still a lot of down um you know up again about point seven percent today and i've drawn this kind of diagonal resistance line and it's sitting right on the edge so will it hold or not that is the question will it hold or not we'll see so and again still you know if you if you want to draw that diagonal resistance line for a recent you know very short-term trend yeah we're not above it we're still you know if you wanted to duplicate that drawing you know we're still in a downward channel within a bigger downward channel you know even though today um so far is looking not too badly okay now if we look at the vix um and let's back things up a bit because this is starting to look like yeah well what's the big whoop here it is but you know if we come back and we look over the course of a year you know this trend has definitely been up we are even though today we draw to 28 if i take this line and we move it down to where we are now you know there's really only one two three this is only the fourth time we have been in this range for any period of time and the first time we were there for what like two three days so this has been an extended visit um you know to the north side of 25 on the vix which is historically pretty high okay yeah so so the the vix has been dropping now for two whole days um but you know is it back below 20 yeah no not even close okay the last thing because we're going to look at some bullish stuff today it's like say white you've just spent five minutes showing us all this bearish stuff well are there some bullish opportunities just perhaps even within this this bearish world and the answer is there has been this beacon of green called the energy sector and if we come over to research and ideas and you might say so does she have a crystal ball or you know how is she coming to this and right now look at this every single sector in the green but if we come over to the market monitor tab and we look at you know and today energy isn't even in the at the the top of the house but if we change our time frame and we say let's look at the last 30 days um the only sector that is in the green is energy in the last 30 days well how about is that an anomaly well if you if you come here every week you know it's not energy up 20 in the last three weeks followed by utilities and healthcare and utilities tends to gain in strength when the market when people are nervous because they're taking their money sometimes out of the growth stocks and they're saying i want to go somewhere where i'm not eating as many toms where i you know dividends tend to be higher there tends to be less volatility and often they find that in in the utility sector but you may notice in the last three months there isn't a single stock that is down occidental is up the most at 64 percent but even fang is up just barely but it's up okino up three percent uh how about over the last six months again not a single stock down um owen oak is is the poorest performer and it's up almost four percent wouldn't we love if everything we're up at least four percent the poorest performer in our portfolio and oxy up 122 in the last six months and then again if we go out to a year energy um has been you know the strongest sector up 65 and again every single stock up which one has been leading i think it's devin devin up 180 and so you might say well is devon dead to me now because it's already had such a long run a body in motion tends to stay in motion was it newton that said that i'm not sure i'm not a scientist although i am reading tony robbins latest book called life changes where there's a lot of science in it okay okay so let's come back so that's kind of a brief overview on what's going on in the market let's have a look at a couple of our positions then we're going to go out place a couple of new positions and then we're going to come back and look at a couple more first of all we placed two trades last week um devon and xom so we did a a long call on devon we got in on friday we hit our target on monday so we did have a profit on that i reviewed that in the second um trade management of the you know the trade management mini session the one on long options and we reviewed six positions devon was one that we placed and that was one we placed last friday exxon mobil so you'll notice these are both energy uh stocks and they were both placed on friday we hit our targets on both of them on monday and we had a nice profit on both of them but i'll review those in more detail in the trade management mini session um then i reviewed four bearish trades three of which were profitable and one of which was not so the three that were profitable were oracle where we got in and out pretty quickly and again i'm gonna re i reviewed these in more detail again in and out pretty quickly and it hit our target and these were all one atr targets and then lucid and you'll notice we got out and then what happened to lucid it came back around because sometimes you know it comes down and it keeps on going and people are going well we could have made more had we stayed in and yeah and then here's the example of mismanaging a trade let me show you marvel and we talked about this last week so last week this was last friday this big candle day and on thursday we didn't meet and i didn't look at it before the market closed or i would have exited this trade our target was 50 25 and it came down to 50 41 16 away from our target and we would have had a nice profit how nice would that profit would have been well to find out all you have to do is come back to the tr um the analyze tab and we're going to come to think back do you see here think back and i put marvel in and the day that we should have been out of this trade was what day may 12th so may 12th if we had come to think back we come back to think back i put may 12th in and then actually we don't want to look at that we want to look at the option chain so this was to have expired on may 20th and we had the 54 put so we would have ended up out at well the last trade of the day was 350 the mark was 317 let's call it 320 we would have been out at 320 okay so let's make a note of that 320 and then if we come back to our monitor tab because i i didn't go to think back in um in the mini session so i wanted to do that here um so we're going 25 days back and we got in at 287 we ended up getting stopped out on the 17th uh which was tuesday of this week for 59 cents so how much were we down well we were down and i did the math about 80 we were down 79 because how much did we lose well we lost on this one 228 dollars okay and on an investment of 287 so that comes to a 79 loss on this now had we been paying attention and seen that um that candle that indicated that the trend might be changing and had we exited on may 12th we would have got out at three whoops 320.
you know minus 287 you know so we wouldn't have made a ton but we would have made about 33 cents and 33 cents if i divide that by 287 would have been about an 11 percent gain so would we rather have an 11 gain or a 70 9 loss and you know what totally cool with that loss if when you look back you say you know what i place the trade i position size correctly so the good news is how much could we have lost well we could have lost 287 and we didn't lose all 287 but when we look back if we're looking back is it to beat ourselves up no it's to say given that this trade worked out the way it did was there something i could have done differently and the answer is yes and so i would look at this as an opportunity to learn from now of course we don't get to meet every day and and i will tell you that the paper money account isn't always my top priority in a day but had i seen it i would have exited yes there was a stop and we did move the stop up in class last week and so if you go to the playlist and look at last week's class you'll see that so why did i brush over the uh the one the five seven winning trades well i've brushed over five winning trades because i think the lesson here is in the one that that wasn't a profitable trade and that we could have managed differently okay we're going to talk about another couple of those and those may go into a mini session also um there were two other long puts that we did one on oracle and one on adp and we're out of both of those and i will review those in or one of them actually is still percolating along and i will review those in class on monday now with adp we can see that you know we have it it moving to the upside today so on monday we you know may choose to close out of that trade but those we will discuss on monday okay and then there are three that i want to look at um in class today so one is it's something unusual for us so we're usually absolutely following the trend and um this one came to my attention i use a firm i used it to buy my uh ski passes for myself and two kids you know and they're a thousand bucks a throw so they said oh you can pay them over six months and there's no financing and it's through a company called a firm so you know i kind of looked at it they had their last earnings um you know they're managing their cash well they have an interesting approach um to working with people um if people fall behind and um and so we did a buy right covered call on this and we put the trade in last friday and i know some people were shaking their heads but let's come and look at where this is because we sold our call fairly close to where it was trading um it was at 25 and it's now above 25 and it may continue to go up but so the question is going to be and i like to run um a democratic class so let's come to our activities and positions and come down to a firm so we are up by 10 on this trade and and not just 10 on the option we paid 19.83 to get in it's trading close to 22 so we're up 20 10 on the entire investment so it's at 200. now what's the most we can make on this well the most we can make on this is 25. if this stays above 25 and it's currently above 25 it's at 25 47 we would be called out at 25 and we make 500 so we're not quite halfway there so my question to you is do you want to stay or do you want to ring the bell take our 200 and say we'll continue to watch this we may do this again this is in our snack bracket that we could continue to do trades like this so go ahead and type into the chat what your vote is and i will go with the majority okay so as we're discussing number two so number two is dated dog and we did a long put vertical on data dog and this is one that we were into and out of so i thought we'd i'm just doing this so i can say so we've got to stay to take the monies two stays we're in a dead tie guys so i need more of you to vote okay so with datadog we did a long put vertical so this was a bearish trade um we bought this put for 245 on it was on friday no on monday of this week um and and this was something that i assigned to the class and then that was on the 16th we got in and yesterday it hit our target and so when we look at the order history let's come down here our our order said get us out at four dollars we actually got out at 440. so
we got a little bit more than what we were expecting which is always a nice thing um and so how much were we ahead by on this one well a dollar ninety-five the multiplier is a hundred so that was times uh a hundred so 195 dollars and we did two of those so in this one we ended up up by 390 dollars so you know that was a trade that certainly worked out in our favor um and this may have been a bit of a what we call a paper money fill and if you were to do this in your live account you may not have got out quite at this amount now why did we make the number four dollars it was just kind of the max gain on this is five and we just said you know what at four dollars we haven't quite doubled our money but if we take a dollar ninety five divided by two forty eight that's almost an eighty percent gain that was a seventy nine gain sometimes what an investor might do is say i'm getting in for 245 i'm going to divide that by two so make it say a dollar 25 and add the two together and say when i've got a 50 return so when this hits like 370 i'll get out i just rounded up to four you know but if you have a 50 gain on a short term trade that's you know that's pretty nice okay and to look at the chart on datadog so this is one that we were into and out of okay so we have a lot more people saying you know let's ring the bell so we got in on monday we got out on the 19th so i bet we were out at the beginning of the day sorry and if it's profitable we change our oval and we make it gold because it added a little few chinks of gold to our coffers if it's a losing trade so if it didn't hit the target but if you saw that yesterday it was starting to move up then some might have said i'm going to take my profit now also you know there's no problem in staying with the trade you know it's not like it's a total trend reversal but that was data dog and then the last one we had two short put verticals and i'm going to discuss those in a trade management mini session in next week trades mini management session because we could have managed those better and we are going to take a a max loss on those now the only good thing about that um is that we position sized appropriately and in this class we don't want to lose more than um 400 to 500 on any one trade and we're going to lose close to 400 on each of these i'm going to discuss this in the trade manage the next trade management mini session so look for that because they both expire today they're they've gone way through i mean dollar tree and walmart these were bullish trades and if you've been watching the news walmart totally tanked this is we wanted it to stay above 155. it did not but had we followed our rules we would have gotten out with far less than a max loss and dollar tree you know jumped off the cliff to join them and and again this was similar in that we wanted it to stay above here but i'm going to discuss those so that we can give them more time okay so justin i don't want anybody to think and and yet so if you're thinking you know geez she only discusses the winners max lost my friends and yet where are we in this account year to date we're at 25 561. we started at 25 uh 20 000 so if we take uh 20 well actually let's come here we're ahead by 55 80 divided by 20 000 while that's over 25 yeah it's almost 28 we're up here to date so are we beating the major indices yes we are uh you know by a long shot okay with a firm we decided we were going to exit that position but we'll keep this one on our watch list so what we're going to do is come to our working orders we're going to cancel this one we're just going to cancel it and then we're going to come over here we're going to highlight it and say we will take our 200 and some dollars thank you very much so we're going to sell our covered position which means we're buying back the call and we're selling the stock okay um i often will record the mini session the same day as the class but it has to go through an approval process i will post it on twitter so please be following me on twitter that that's where you'll get the first notice and it will also show up in trader talk so make sure you've subscribed to the trader talks channels in the long trading a smaller account or in the long options mini session so this next one will show up in the trading a smaller account um a playlist yeah so kevin is saying are you better to to monitor things in the beginning of the day or at the end of the day um you know i think that you're just better to monitor it at some point during the day i don't care if it's the beginning of the day the end of the day um you know but just if you monitor them once a day then you'll you know and sometimes things can change dramatically during the day for the good or the bad so there are going to be times when it works in your favor to do it first thing in the morning and times when it works in your favor to do do it just before the market closes okay so we've got that one teed up so we can see in here that this is working i've offered 22.05 so that's kind of looks like it's falling a bit we're just going to let that percolate okay so i had a question on the charts and how do you draw a line so if i draw a line here like and i wanted to make this a target just to show you and i'll post this on twitter it may not be today maybe monday but it will automatically show the dollar value how did i get it to do that well if i want say say we were selling a put at at 30 and i wanted to change the price or at 35 i can just come down here to where the value is and type in 35 and then if i wanted to say okay this is my target i would type in target and then i'm going to say show the price on the right the default is for it not to show and if i want this to show only when i type something in i'm going to do that on a case by case basis i saved having the price show as a default but if i want that target to show i'm going to come over to show name on the right and then it'll say okay there's my target now we no longer have a position we exited so we can just remove these drawings and we actually got out of this today so we can you know if we wanted to draw a circle and leave that on the chart you know we got out of that today and for a profit there we go okay uh trader talks the mini session is in trader talks as well it's not a live recording though you can't say like when is barb doing that right now it's not a live recording i'm campaigning for that but you know it's it's young in the process okay so let's look at some potential new opportunities and and for that given that the market seems to be bouncing today we could take our time and we could go in and we could put up a bunch of conditional orders that if things start to pull back then we'd be in right away but if energy is continuing to move to the upside i know you can set alerts in in a paper money account absolutely so if we look at mro and this is one that's kind of in our snack bracket what do i mean by that well our rule in this class is we don't want to risk more than um four to five hundred on any one position but we also um can't invest more than five thousand dollars and you might say look i've got a million dollar account i'm never going to invest 25 percent of my account in one position well if you have a million dollar account it wouldn't be an appropriate rule but we started with 20 000 and we wanted to be able to do something called a buy right or maybe own 100 shares of something like you can see in this you know we have um most of our money is sitting in cash now you know we don't have a lot that's in invested you know uh like about a thousand dollars is tied up and so you know when we look at this we might say okay this has been trading in a range it's bouncing if we'd be okay in owning mr um whoops mro if we come and we look at this it has a p e ratio of 9.6 so would that appeal to value investors yes it might and could we do something like just buy it and hold it or could we say you know what i could i get enough if i sold the 28 or the 30 call maybe even just above that 28 that if i got called out i could make a little bit of something and and again it's a short-term trade in a market where we're uncertain of what anything is going to do for the longer term yet it's not like we're in an uptrend that's been going on for the entire year as we were last year and so if we look at this and we come out to the trade tab and we said well if we came out to june and we looked at the 29 we get a dollar 22 to a dollar 26 and you may say well that's not a lot well this is this is a 27 stock so if you said okay well a dollar 22 divided by let's just round up to 28 because this calculator is not my friend sometimes that's a four percent return plus if it's trading at just about 28 even if we sold at 29 we'd be up another dollar 30 which you know my math skills tell me would be over eight percent and so would we look at that maybe and go eight percent 28 days would i be okay with that okay so if we look at this and say okay so if we wanted to buy covered stock because we've done so many one atr trades i thought we'd try something different so this is 26.49 how much could we make
29 is the highest amount we could get called out for if it goes up to 30 31 32 we'd be called out we'd be paid 29. so to make the math easy for me 26.50 we'd make 250. so if i took 250 divided
by 26 49 like that smells like close to 10 it's probably 8 and change 9.4 so if we say to ourselves you know if an investor said to themselves self does that look appealing for a 30-day trade yeah okay now where might we put our stop now some might be tempted to say oh you know i don't want to risk too much so i want to make it a really tight stop the tighter the stop the less you'll you'll lose but the more likely you are to lose it so if we are going to give this room to move and we say okay it 23.71 since april 21st so for the last month it hasn't gone below that so if i took this 23.70 and we put our stop below that by 3 then it gives it a lot more room oh i'm just going to do this on my calculator and you guys follow along and tell me if i'm wrong okay 22.99 is going to be our stop okay now when we look come out to the trade tab and if we say what are the odds i'm going to show you that in just a minute first trigger sequence right click because if we want to exit this we don't know exactly what the call will be worth all we know is that it's likely to be worth less so but we want to get out if mro goes below 22.99 so 23 dollars basically so if it hits or goes below 22.99 so how
much are we risking well 23 26 53 we're risking 350 there's no guarantee we'd get out at exactly 22.99 but is that within our you know realm of acceptability now if we could do a five thousand dollar position we could actually do two of these we're just going to be conservative we're going to do one how much can we make 253 how much could we lose this is saying it if if marathon went to zero but you know we have a stop at 22.99 we're going to put that in our buy right and just to be clear the goal is to be called out or to exit when we have um you know typically 50 or more of the potential gain so if you want to put in a note to yourself there you go now i thought we'd do a couple of examples in the energy sector when we look at oxy now oxy here's something that's been going sideways it's come up it's come back down we really can't afford because it's above 660 that's 6000 we can't afford to do that but could we do a long call vertical we could and so if we come out here to the trade tab we say okay it's trading oxy at 64. but could we do get enough premium you know could we do the 6250 and the 65. we've got many thousands of contracts tight bid ask spread so could we do something that's on most of the way through and still get enough for it to be interesting well on a 250 strike it's you know it would cost us a dollar 28 the most we could make is 250 but if we come to confirm and send our break even is below where it's trading now and it's a bullish trade it just has to get to 65 and it's currently at 64.22 so if we look at that and we say well we could risk 400 we could do three of these oh sorry let me just come back to that we could do three of these and then say hey you know what when this gets to the point where it's worth two dollars we don't have to get our max gain we're up 75 cents on a dollar twenty so that's more than a fifty percent gain we'd be happy so we're going to do first trigger sequence opposite order say hey when this is worth two bucks let's take the money and run cue steve miller does this make sense okay so if you wanted to do some practicing we're going to put that in our long call vertical buckle bucket and i'll make sure that one fills now we are out of time but i want to give you some homework so devin here once again we used to trade devon in this class and do buy rights but we can't afford that anymore it's now you know it's trading at 70 a share but it's bullish was the you know in the most bullish sector the most bullish stock over the last year could we just do a long put vertical so your mission should you decide to accept it is to do a long put vertical on devin and then we are going to look at uh exon and do the same thing on exon a long put vertical or sorry long call vertical okay so there's your homework i am going to put these trades on at the end of the class using kind of the same methodology when it's up 50 or more the exit price on the last one was um two dollars which was over a fifty percent gain we got in for i think about 25.
okay so do that on those two and and then you could wander and look through i'm going to post some stuff on twitter later today i spy with my little eye and maybe an inverted head and shoulders here on uh philip 66 so might there be an opportunity there might and there might not but have we done what we set out to do well we looked at the current market conditions we managed some trades i pointed you uh to some things that you can go and look at now let you know that there's stuff coming up if you enjoyed this session and you found it helpful please hit the like button it lets other people know that you think this content is valuable please subscribe to the network please follow pat and i on twitter because that's lots of great news you can use i don't think there was a survey today if there was please fill it up fill it out let me know what you loved and what you didn't and then i will be sure to incorporate that into future classes so again know that everything we do in this class for example purposes only none of it to be construed as a recommendation on the part of td ameritrade or myself um they're just examples but you know we've had a lot of fun and um some you know a lot of great successes and some humbling losses in this class here to date and i think that we have had the opportunity to learn from it all but again um we're doing all of this for example purposes know that there are some differences in with the paper money platform one of the big ones is that a short position so our short call could be called out at any time or our short put could be put to us at any time up until expiration have i seen that happen yes i have did it freak me out the first time it happened yeah kind of sort of you know and then it's like okay i can figure this out but you know that that won't happen in paper money know that all investing involves risk including the risk of loss and when we are trading options there is a transaction fee 65 cents per leg per contract so guys that's a wrap for today huge thank you to a pap mamali for bringing his expertise to the table i appreciate it have an absolutely awesome weekend up next will be connie hill with getting started with stock investing i hope you stay and check that out take care everyone bye for now
2022-05-22 11:41
