Long & Short Verticals | Trading a Smaller Account

all right good morning everyone welcome to trading a smaller account yesterday we put our wrap on the second quarter it was uh one of the worst first halfs of the year in market history the last time we saw this much bearish activity in the first half of the year was i think 1971. i don't want to tell you how old i was and then but i wasn't trading so uh today we are going to look at how we can take advantage of whatever is happening in the markets so um i hope you find it to be an interesting class i always love getting to share this time with you and you know we're not supposed to have favorites but i've got to admit that this is one of my favorite hours of the week so good morning and a huge thank you to all of you for continuing to show up and join me every friday morning um we we have about 45 minutes together and we really try and make the mess of it the best of it so somebody's saying yeah i wasn't even born yet in 1971. so um so yeah it has been a memorable first half of the year and for a lot of people um it has you know created nightmares you know it's not been the kind of market beginning um that a lot would characterize as sweet dreams so uh good morning and thank you to radio wayne for being the first into the chat about 45 minutes ahead uh to deborah and doug and jules and and ally and robert and jeff and marcy and the rest of the gang thank you all for being here and for being such great ambassadors for this class um you know when people show up that are new you're giving them great guidance and um i do really appre appreciate that we do have ken rose with us in the chat also he's a friend and fellow coach and he brings great value to this class so if you've got questions please type them into the chat as we go along in between ken and i will do our best to answer also know that you have a voice if you're watching this in the archives thousands of people do so if you have a question or a comment like you love the class you can type that in but if you've got a question just type it into the comment section i do check those at the beginning of every trading day okay so and we've got somebody who's able to be here live with us today that typically isn't so congratulations and welcome um the third way that you can communicate with us and that ken and i can communicate with you is through the use of twitter so my twitter handle at the armstrong underscore tda cans at k rose underscore tda we are posting uh you know news you can use the odd bit of humor um you know on uh twitter on a daily basis and my friends i think you're missing out if you don't participate um but that's just me and and you know what i'm not a big social media person i gotta say i got kind of dragged over to twitter kicking and screaming but i've now embraced it and um you know have found that it's a great communication tool it's a way for me to be able to reach out to you outside of webcast like this okay so for today know that this is an intermediate level class so what do i mean by that it means that the the strategies we're talking about i my um what i'm looking for the right word here i'm assuming that you understand these trading strategies and we've done a lot of similar trading strategies in this account this year we did a lot of similar trading strategies in this count over the last two years and and sometimes as the market changes our trading strategies change if you don't understand a strategy i'm talking about please type it into the chat and i will put a link into the getting started with options class that matches that class in the comment section down below there will be um a link to that getting started with option series also we do trade particularly this year um when the market's been so bearish a lot of options strategies in this class and 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 know that everything we do in this class is for example purposes only not none of it is to be construed as a recommendation on the part of td ameritrade or myself um also know that all investing involves risk including the risk of loss we use the think or swim paper money platform it's a brilliant way to hone your skills there are some differences between the two platforms all that they look like smell like feel like you're trading in your live account one of the differences is that a short option will never be assigned early in your paper money um and that can happen in your live account have i seen it happen yes i have okay so um and when we use stops and we use stops a lot in this class to define our risk um it doesn't guarantee that we're going to get out at exactly the price we're expecting um especially if we use a stop market order which we often do once it's activated it competes with other incoming market orders okay so our menu tends to look very similar week to week although we you know pack a lot in and every week you know different things are happening but we're going to have a quick look at the markets we're going to place some new example trades and think or swim in the paper money we're going to do a little bit on trade management now i have started doing this trade management mini series and usually we'll see one trade management mini session a week i am going to record one of those today so you'll see it within the next few days okay so let's get out to uh you know item number one on our menu today and let me just change my screen okay so we are going to come and look at the spx now if you are new to this class um you will see that we have a current balance of 30 475 and 53 cents let's not forget that and how much do we have you know that we could invest right now 29 000 so most of our account is sitting in cash and it does that bother us yeah no it doesn't um one why at the beginning of the year we started out with twenty thousand dollars and so we've had a pretty good first half of the year and given that the markets have had you know a ridiculously horrible first half of the year um you know the fact that we are currently up about 50 year-to-date um you know it has us doing the happy dance now are you know could this change by year-end absolutely you know we could have a bigger return and we could end up giving some of it back we've had good weeks and bad we've had good trades and bad and we're going to look at a trade that goes into the non-profitable category today and i'm also putting that when we can have trades where we lose money that i think are still i would call them a good trade um you know and then we have trades where we um lost money and i would put that more in the a bad trade category and why might we put it in the bad trade category maybe we mismanaged it um you know and we could have exited with you know less of a loss or you know what whatever we're going to talk a little bit about that today um our rule of thumb here is that we don't want to risk more than four hundred to five hundred dollars on any one trade and that represents 500 represents two percent of our account value so four to five hundred and were we to buy a stock our max position size we aren't going to change at the beginning of the year it was five thousand and some might say hey back the truck up like that was 25 of our account value at the beginning of the year yes it was but this is a smaller account if you had a million dollar account you might not you know have a position size of 250 000 but what this does is it gives us the ability to buy a stock at 50 or less and maybe do a buy right covered call strategy we might be able to buy a hundred shares and then use protective put protective puts as immediate means of managing our risk we haven't used this a lot this year because the market hasn't been terribly bullish so we haven't um you know seen a lot of opportunities we wanted to embrace by buying stock even if it was a short-term trade okay so that's kind of the setup for this class um with the s p 500 we're starting off and and we're you know how many minutes not even 10 minutes into you know the new third quarter here but currently we're down about you know point two two percent um we're you know if we come to year to date and i have a year to date up here if i come to show price as a percentage and i recently posted how to do that on on twitter but you know we're down 20 21 year-to-date so bearish you know when we look at this series of higher um of lower highs lower lows and you know some might look at this and say classic bull flag or sorry bear flag here and you know and then today we're seeing the follow through so it's come down rallied for a few days coming down again you know came down rallied for a couple of days down rallied down so pretty classic okay okay so andy so there's a question in the chat um about managing risk on uh a credit iron condor we're not going to talk about iron condors today but we're going to talk about managing risk on spreads um and you can take that and extrapolate that and maybe use some of the thoughts we're going to talk about around that in managing other types of trades as well so when we come and we look at the nasdaq you know down 30 percent year-to-date um at you know starting out the day down half a percent um and i guess i can get rid of this line because you know we were saying if this did come up and break out here's where we might expect it to go if it rolled over where might we expect it to come is maybe back to this diagonal potential support line because it has been in a downward trending range right if you wanted to do a trade on an index when we come and we look at the russell which is our small caps this most of last year was in a trading range between 21 30 and 23 60 ish broke down fell a similar amount down to around this 1900 ish level and has since fallen again um and you know and again some might like these lines others might say you know get rid of those lines they're no longer appropriate you know what i spy with my little eye is you know a new downtrending channel and then if you draw your line and click on it and duplicate the drawing i'm just going to then drag it down so it kind of gives me a channel so it's in the middle of this downward sloping channel so where might one expect it to go next if one was bearish you might have a target down here around the 16 50 ish level but you know not um an uptrending sign and in a shorter term some might say well you see this channel i see a bit of a pennant pattern and that's the thing with technical analysis you know we can all it's like a bit of a rorschach test we can all see different things and it just depends on how wide a time frame you're looking at but one thing that can be powerful whether we're looking at a stock or an index is to look at both even if we just want to do it a one atr trade where we're expecting to only be in for a few days we might want to look at not just what's been happening over the last week or two weeks but what's been happening over the last two or three months what's been happening year to date what's been happening over the last 12 months because as you've often heard the trend is your friend and one of the reasons that we've been able to um have the return that we've had is that we have embraced the trend we haven't tried to when we have gone against the flow it tends to have chipped away at our total for the year not added to it so swimming against the trend is exhausting my friends and you know i have a friend actually that put in one of these pools um where you know it's it has a current and you can basically swim in place just by trying to swim against that current never getting to the end of the pool yeah so we're very much in this class trying to focus on the trend of the market of sector and and of a stock in particular okay so back to our regular programming okay so the dow it's actually down the least you know only only 16 yeah these infinity pools like well i always think of the infinity pools as the ones that kind of it looks like you're just looking off into the horizon you know and it ends um there's a place i i've stayed in maui several times that has these infinity pools they're beautiful um yeah so it anyway uh with the dao and again you know we had this year-to-date this kind of trend that was going sideways and it broke below that and so you know we said well where might it go and and right now you know someone else might say well you know barb those lines aren't appropriate anymore i just like clear the whole lot of them and you know what i'm spying with my little eye is this pretty steep little pennant but you know when something breaks out of a planet because we do have a low here and now at the moment a higher low um you know when you have a a trend and a pennant pattern um the probability of the trend continuing is higher than not you know and is that a guarantee no um but the expectation is higher that the trend will continue than than that it won't okay so and then if we look at our vix for today you know again you know i just drew that pen a pattern not that you know some people will trade um the vix but what we're seeing with the vex at 28 is that the vix has continued to be elevated i know back a couple of years ago you know when we were talking about the vix i mean we were seeing historic lows in the vix you know it was under 10. it was it was crazy how low it was and for people that like to sell auctions you know when volatility is lower um option premiums are lower so you know here we were you know down around 14 10 or 14 when did we get here now that was in 2021. if we go back a little further you know you know we were seeing back here in 2018 really low volatility levels so you know what we're seeing here is elevated volatility levels and what does that mean it means people are nervous means fear is high yeah yeah so that's that okay so what do we do with this well if we say hey we want to embrace the trend not try and fight the trend what might we do well we might consider bearish trades and you know to complete our analysis if we come out to research and ideas and we say okay you know today we have a lot of sectors that are moving to the upside now the s p is up half a percent you know at the beginning of the day it was down but you know if we look at you know the last say three months and energy back at the top of the heat over the last three months it's now slipped to second place and is there isn't a single sector that is in the green in the last three months in the last six months um you know energy at the top of the pile up you know so year to date basically over the last six months only one sector in the green so we actually in this class have done a lot of bullish short term trades on energy stocks do we have any in our account right now i don't believe that we do and you know over the last 30 days energy's really taken a beating you know in consumer staples it like there isn't a single sector that's up in the last 30 days and energy has given back a lot of its gain you know it's back having a lock on last place okay so if we wanted to come out and one of the challenges with this class is that you know we're starting um when the bell goes off so if we look at rcl or royal caribbean a lot of the cruise lines have really taken a beating and so if we take this line and we move it down yesterday would have been considered an entry because it kind of broke below this this recent low where it kind of seemed to be gathering some support um but today it's bouncing you know and up 2.3 so you know we could do a couple of things if we wanted we could place a conditional order and say hey if it continues to fall get us in um but let's see if there are some other things out there but the idea just being we've got a trend continuation and what might we do well this is a 33.36 dollar stock under 50 bucks so we

might be able to just buy a put with a short-term target how about airbnb and here's another one where you know long-term down trending range and then that that drop seemed to accelerate it was weaving back and forth through the 30-day moving average the red line and then it came up and went yeah no do not pass and came down and and established some new lows and yesterday was a new low for a airbnb so here's another one you know where we could say okay it's rallying today but we could put in a conditional order so we're going to look again at that one um apple and again yesterday you know this hit a new low today it appears to be rallying but the overall trend you know when this is a six month you know has been down trending and it seems since it crossed back here in april to have trouble getting back above this 30-day moving average so could we you know sell a short call vertical here and we haven't done um you know a lot of short verticals in this class this year mainly because with the market you know being so volatile and moving quickly in one direction or the other we've tried to focus on taking advantage of those short term moves as opposed to the patients that a short vertical can require but here's one where you know could we look at this and even though it's rallying today say could we come up and here's our 30-day moving average at 140 and sell a call above the 140 and then buy a call above that to define our rest so let's come out and look at that and could we be doing that on on the last two things that we looked at as well so if we're looking at selling a call we want to be above are we the first to have this idea yeah there are 1353 contracts that have already um traded hands today so you know and we've got high volatility which means like could we maybe even come out further like say to this 145 and would there be enough premium to do uh say 145 and 147. well this says 145 and 150 we'd only get 70 cents so the answer is to this depending on what your criteria are likely no um so okay could we come in and do say what was our high on this day it was 143 so could we do 143 so sell the 143 and that has a delta of 30. so often with a short vertical we're looking for that delta in the 20 to 40 range so and oh this is only 14 days that could be why also and we've got lots of volume here but apple you know is is one of the most heavily traded stocks from an option perspective in the world how you know would we have reasonable volume if we came out another week now one of the the challenges is that if we come out to the weeklies we don't have these you know it's 145 150. now could we

afford to take that kind of risk we could um you know but and there might be enough premium here 145 150 we get a dollar so we're risking four to make one that's a 25 return on our risk for a trade we would be in for uh 21 days and so if as a rule of thumb we might say to ourselves okay well if i'm going to be in this for 21 days i want at least a 21 return others might say i don't care how long i'm in it if i don't have at least a 20 to 25 return i'm not going to play and the idea here is you've got a five dollars worth of risk um you're getting a dollar credit so you're risking four dollars to make one and you know and you've got a 70 percent probability now this can change depending you know it's a fluid number with a delta of 30 about a 70 percent chance of this expiring worthless so if we said you know what um yeah we'd be willing to take that that risk so what i'm going to do is get rid of my drawing tools here and what we did a lot because we traded a lot of these on the short put vertical side last year we said you know what when we've got 80 of our max gain we are going to take our risk off the table so we're going to come to single order first trigger sequence we're going to right click opposite order say hey when this is worth about 20 cents so you know we'd have made 85 dollars we're going to take our risk off the table and you might say 85 like that's not very much how much are we risking well we're risking 395 um to make it eight you know 85 dollars but it's a base hit what we have called base hits i don't know i think we should call ourselves barb's base hit brigade this year or something because we've done a lot of these type of short-term trades now could we still lose absolutely if we do lose how much could we lose well we could lose you know up to four hundred dollars what's our max risk allowed per trade um is four to five hundred now we also could put something in here though and say hey if this pulls back and this gets to the point where it's worth 250 and our max risk is um is you know for this to go to 500 if this gets to the point where it's it's worth 250 we might choose to exit and so this goes to the question that was asked earlier in the chat about how do we you know manage your risk and some might say you know what i'd rather just look at it and manage it that way um but others might say hey i don't want to lose 400 no one does we can afford to lose 400 in this account and we're not you know blowing up the account but this idea of you know putting in an oco order so what i'm going to do is i'm going to take this one and i am going to delete it and whoops i didn't mean to delete the whole thing so i'm going to come to cell vertical oh i guess i did okay let's just delete that one and then come back to trade so vertical okay i'm going to delete the whole thing because i don't want two contracts here geez don't let anyone teach these days won't they okay so here we're going to come first triggers oco and then i'm going to come in here and create an opposite order and i'm going to do that twice and the first one we're going to say hey when this is worth um 20 cents we want to accept and then we're going to say hey we're going to make both of these good till cancel and then we're going to put in a stop and say hey if this gets to the point where it becomes worth three dollars so then we'd have lost two hundred dollars we want to issue a market order to exit and this will just say hey this trade is going against us now what's one of the things that's delicious if you will about placing a short call vertical trade on a friday is that you get the benefit of time decay over the weekend and we have a three-day weekend so we get three days of the benefit of time decay with no um you know with the markets being closed so confirm and send so we're our risk still shows us the same but what we're saying is we're we're our our goal is to manage the damage okay so we're going to put that in our short call vertical bucket and fire in the hole and i'll make sure that that one fills now could we come back to um well let's just continue on on my list um and and how did i create this list i get asked this a lot um often it seems like this program is sponsored by the letter a because what i'll do is i'll come over to the nasdaq you know if you come over to the watch list and you come down to public i'll just come here to the nasdaq 100 or to the dow 30 or or to the um uh s p 100 and i'll just start clicking through well here's apple and we just did a trade on apple and here's airbnb and and you know could we do this same thing on airbnb um you know and say hey could we sell something above and you know right now like here's the challenges it just hit a new low yesterday so if we were looking at this kind of as a sideways trend is this the best time to enter you know to to to take a line from john panette because we'd rather be selling our vertical when it's come up and bonked its head on this resistance level um not when it's perhaps establishing a new support level somebody's saying what game percentage would be considered a base hit 10 20 50 well in this case our goal was 80 percent of our max gain when we have done long verticals and we've done a ton of them in this class we've started saying hey if we get to the point where we've got 50 of our max gain um you know often and and often with a long vertical the max gain is a hundred percent return when we've got a 50 return we're good to go and so we've done we've done a lot of those this year um so so with airbnb we're gonna pass on that um how about o'reilly so it so here's an example where you know um airbnb was perhaps establishing a new floor um but o'reilly you know is in a bit of a pennant pattern if we back up and look at this over the last year you know this is one of those that was up trending and then we got to april and it just started to fall and it looks like it's kind of trying to gain some ground um and so but we're seeing this squeeze and this pattern in the shorter term has been down trending so one could look at this and say hmm now we've got earnings july 27th so some will have a guideline that says even if i get into this i do not want um you know to still be in this trade on the 27th now on closer looking at this some might also say but barb so many stocks are below the 10 and the 30 day moving average and o'reilly is you know moving up today and um is above both so we might say okay well we're going to continue on then and not place that trade and we could look at it again on tuesday you know if we were to meet tuesday now we aren't going to meet next week till friday and see if it has changed and and the reason i'm looking at some of these is because often people will say like what's the thought process behind this like how did you pick what you picked to trade and so today i thought i'd spend a little bit more time kind of going through the the thought process and i'm not saying it's right all i'm saying is these are kind of my thoughts on it and i'm just sharing them with you it's that idea of you know why are you making the decisions we're making right and so i just this is why we're going through this okay so that was a riley let's have a look at lulu so lulu wearing the pants that so many people have embraced and we can see here you know this is it kind of had a more typical to the market trend at the beginning of this year it started going downhill it had that one rally when the rest of the market rallied and you know just seems um you know to be continuing to fall and had a bit of a panic pattern setting up and today it's breaking below that and so could we take advantage of that you know by doing a directional trade and what directional trade might we be able to do well this is a 270 dollar stock so to be able to buy a put is probably not in our snack bracket and what do i mean by that well if we come out to lulu the july expiration is now too close for us so if we came out and we looked at august and said well if we wanted to buy you know it's currently trading at close to 270 the 270 put dollars and forty cents whoa yeah can we afford that no that's eighteen hundred and forty dollars worth of risk what's our max risk five hundred so could we do a um a long put vertical and here we've got to look at a ten dollar spread um and you know and do we have a reasonable badass spread we do it's about a dollar and you know a dollar on an 18 option is not crazy sorry we want this to be a buy so this will cost us 440 how much can we make what's the most we can make the most we could make on this is six dollars and sixty cents um and you know six dollars and sixty cents that would be over a hundred percent return and so um what we did he what we could do here is say well we're risking 428 now could we lose more and on the short call vertical we just did could we lose more than the max risk we can is it likely that we we would lose more no is it possible if you let it go into expiration and it closes between the strikes and you end up being assigned it it's possible um you know so this is why we're huge advocates in this class and you know in the td ameritrade webcast in general of exiting these positions prior to expiration because that keeps our theoretical max risk at an actual max risk now having said that a short option can be assigned at any time so if you know if we look at this and it goes through both strikes and we get assigned then we have the option of just you know taking the long option and assigning it ourselves and then we're just at our max game faster which would be a beautiful thing um on the short verticals it can be um you know a little more nerve-wracking but we have options if we're prior sorry we have choices if we're prior to expiration okay how can you tell what to use um that's a good question and you know like how can you how did you make the decision on whether to do a short call vertical or a long put vertical um and and i like that question so let me just put this trade in and then we're going to let me discuss that so this is our single order we're going to just make this and again we could do the same thing first triggers an oco so if we get in we're going to create an opposite order and we want to get out when we've got let's say a 50 percent gain so if i took 440 and added fifty percent to it rather than waiting for it to be worth ten dollars how about if we say hey when this work is worth six dollars and sixty cents uh we're gonna be in the happy camper brigade and it'd take a 50 gain and get out now if it if it gets close to this let's say it got to 625 and then lulu looked like it you know had reached a low and was about to rally might we just decide to get out absolutely this isn't set in stone and then we're going to come in and we're going to do another one and say hey but if whoops oh i don't want that one oh yeah i'm gonna go through this whole thing again i obviously don't know how to delete uh buy a vertical i'm gonna switch this okay okay we're just gonna have to delete the whole thing because i obviously don't know how to fix that so we're going to buy a vertical we're going to come to first triggers oco and we're going to create two opposite orders and the first one is saying hey when this is worth about 660 get us out 660 so that would be a 50 gain okay let me just make sure right and we're going to make that good till canceled now this says orders in the same group must have the same time and force we're going to make them both good till canceled and on the other hand although we're willing and we can afford to risk 440 dollars we might say hey if this gets to the point where it's only worth two dollars and 20 cents you know it's not going in the right direction it could do you know what i mean it's not going at the it's not going in the right direction so we want to put in a stop and say hey if this gets to the point where it's worth 220 issue a market order so we might not get out at 220 but we're going to get out without a hundred percent loss and have we seen hundred 100 losses we have one in the account right now that's like worth pennies and how we employed this idea of you know and we do this with the one atr all the time where if we bought a put we'd say hey if it goes down nine dollars get us out if it goes up nine dollars get us out so we're trying to manage both you know we're trying to set ourselves up for a base hit but recognizing that if it goes against us and some trades will in spite of our you know best technical analysis sometimes trades will go against us losing is having losing trades is part of trading and if you think you're never going to have a losing trade if somebody tells you that they have never had a losing trade they either have issues with memory or they're just not being honest with themselves and with you okay so chris thank you for that i'm going to play with that after the class he's trying to tell me how how to fix what i was doing incorrectly so we want to buy a vertical on lulu the 260 270 put at 445 and if it gets to the point where it's 660 yay we're out with a 50 gain if it gets to the point where it's worth 220 boo but yay we're out with a 50 loss rather than a hundred percent loss okay so we're going to put this in our long put vertical bucket okay so somebody's saying i'm confused okay so let's talk about that for just a sec so there's two things i want to talk about and then we have to wrap so first is why did i choose to do a long put vertical in this example rather than doing a short call vertical so we could have done a short call vertical but the thing that tipped it towards long paul a long vertical a directional trade so this is more directional is that it's just broken below this support level and what a technician would expect when something's broken out of a panic pattern is that let me get my drawing tool here is that it will if it if this is the width of the pennant is that it might um what we might expect is if it's going to fall when it breaks out to the downside that you know we could see it go down to around 200. and so this is moving in a direction now with apple it's sitting closer to a current resistance level and you know although it could move down here you know it could waffle around and so here we said it's closer to the ceiling and so in this example you know and these are just example trades that are not recommendations we said well what if we sold a call here and as long as it stays below our sold strike you know it could go a whole lot of sideways we still have a profitable trade and if it comes down here where we're going to hit our 80 percent gain that we're looking for probably faster okay so that's why we chose the different strategy for each one now someone said i'm confused if we're managing our risk why would i be worried about being assigned so you know if i come back and i draw these i'm going to just hone in here so if if i come back and i say okay if i draw this line here at 145 and 150 let's say this comes up and at expiration it closes in between these strikes so the sold strike is likely to be exercised which means you would have sold shares you know a hundred and at 145 dollars shares of apple that you don't even own now we said okay that we're okay with that because we have the right to buy but if you let this go into expiration this will expire and so i have posted on twitter you know what you can do here but this is where the risk is um and so what you can do if it is you know if this happens and we're prior to expiration when you might just wait and see if it comes back down or you might say you know what i don't want to risk being assigned here so maybe you know we got paid a dollar for this maybe i i'm going to shut down the trade and i'm going to have to pay a buck 50 for it depending on when this happens and take a loss but i'd rather take a 50 cent loss than a four dollar loss and i'd rather not risk being assigned where if this happens at expiration my loss could be even higher than this max loss okay so that's that's why that's why i i brought that up but if you exit and close this out prior to expiration then you have a a wider array of choices and a less i think a less stressful environment and this i had thought if something went through both strikes like if this continued to go up through both strikes i just thought you'd immediately have a max loss but if this happened say on monday it gapped up there's still time value in it so you might be able to exit with 50 of a max loss believe it or not that kind of blew my mind the first time i saw that so run the numbers my friends okay so um so that's a wrap for today we are at time um i think that we've done what we set out to do and one of the things you know i had said and i'm going to do a trade management mini session today but if we come in and look at amazon we had a long call vertical so it looks like you know we're recovering some of our money on this one today but we did a 126 call that we bought so this was directional we were expecting it to go up and 128 we have two weeks left yesterday this was worth six cents so today it's worth 17 so if amazon continued to rally you know we could mitigate some of this damage but had we put in we we put in a profit target but we didn't put in something to say hey if this option and by the way if you're not seeing this sorry uh oh no it's yeah here is our mark oh 17 and no it's still worth somehow this got reset so i like to arrange my positions by order and then we'll see this like we were paid 90 cents when we got in it's now worth a nickel well what if we had said hey if this gets to the point um you know where it's only worth 45 cents get us out we would have had half the damage okay so we're going to talk about this more in the mini session but i think we've done what we set out to do appreciate you being here today have an amazing long weekend everyone kudos to you for showing up by the way there you know are about 250 of us that have linked arms this morning and i think that's really fantastic um on the friday of a holiday weekend that you guys continue to show up keep in mind everything we do is for education and example purposes only none of it to be construed as a recommendation know that there are some differences between the the paper money and the live platform one of the key ones being that a short option will never be assigned early in paper money know that all investing involves risk so if you could um if you enjoyed this if you could there's a like button right down here um if you could hit the like button and there's a subscribe button in the corner if you are new to this class in particular hit the subscribe button feel free to join us um would love to have you on board with us on a weekly basis that's a wrap for today everyone have a great fourth and huge thank you to ken for being in the chat with us today take care everyone bye for now

2022-07-03 13:44

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