Long Calls & Long Call Verticals | Trading a Smaller Account

all righty good morning everyone welcome to trading a smaller account i am back i have had a lot of vacation time this year um and i appreciate your patience with me uh but i am now back and i am going to be back for the next several months so a huge thank you to cameron may for covering at things for the last couple of weeks well i have been off um gallivanting about and having fun doing other things so today we have a jam packed class we are going to focus on verticals today long verticals um this is an intermediate level class we started the year with 20 000. we're up pretty substantially we'll look at that in a few minutes but we're this is an active trading class so we take a look at what's going on in the market and this year in particular we've done a lot of very short term basic kind of trades and we're going to continue to do that in this class so some of you may have a small account and this might be an appropriate way if you're trying to master options to follow along in your paper money account and um others of you may have very large accounts and and you want to actively trade a portion of them and so it doesn't really matter what your account size is as long as you have a basic understanding of options this is a great place to be if you don't you're welcome to follow along but i do move quickly in this class and so it might feel a wee bit like drinking out of a fire hose and that's okay because when i got started in the world of investing back in july of 2011 i spent a lot of time feeling like i was drinking out of a fire hose and and the more you come the more it just starts to gel and and kind of solidify for you if there is a trading strategy you don't understand please type it into the chat and let me know and then i can give you a 15 second overview of what that strategy is about but otherwise i'm going to assume that you understand what that trading strategy is okay deal deal okay so i mean we are you know what two minutes into our webcast and there has been a huge amount of activity going on in the chat for the last 20 minutes if you are watching this in the archives know that you're invited to attend live on fridays at the market open once we get kind of into the meat of things i'm going to cover a question that was asked in the chat because if you're watching this in the archives you won't see that and it would be a shame for you to miss it it's on long call verticals short call verticals and and dividends um and the risk of trading um those things you know when a dividend is being announced and so thank you to doug peggs for that question so welcome to vijay and doug and ap 514 and radio wayne and unexpected good luck i kind of like that handle and deborah and michael and and the rest of the gang we also have ken rose here with us in the chat and ken brings an absolute wealth of experience with him we are fortunate to have him so ken thank you for joining us today and you guys have already you know had him um really really busy in the chat and for that i thank you okay so um let's get through our important information and i guess before i say that if you've got questions and you're watching this in the archives you can type those into the comment section below i do check those every trading day and i'll get back to you quickly if you love the class you can type that in there too if you have suggestions on things you'd like me to cover in upcoming classes that's your voice so you can type things in there another way to get in touch with us is by a twitter so at the armstrong underscore tda for canada k rose underscore tda and we are both posting helpful content on a daily basis so you know yesterday for example i i had a little postappalooza and and i'll show you some of the charts i posted because we're going to place trades on some of those uh example trades on some of those stocks today okay so that's that um know that this is an intermediate level class what does that mean it means that i'm assuming that you understand the basics of technical analysis and um the the basics of trading options and if there's something that confuses you please ask the question because if you're confused thousands of people watch these their chances are there's another dozen people that are confused by the same thing okay so and and know that we place lots of trades but they're all for example purposes only none of it is to be construed as a recommendation to trade any particular security or strategy in any particular way we trade a lot of options 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 we discuss our risk with every trade that we place okay because it's important to understand what the risks are if you're new to td ameritrade you have to apply for option trading privileges and not all will qualify in order to demonstrate the functionality of the thinkorswim platform we use the paper money account looks like smells like feels like real money there are some differences and we'll discuss those as we go through but it's a great way for you to hone your skills mass gain mastery over a new strategy before you go into your live account and start putting real money not only into you know work but in you know into a position where you're you're at risk so i know that all investing involves risk including the risk of loss okay now short options can be assigned at any time and we're going to do verticals today which involve both long options and short options and in a paper money account a short option will never be assigned early okay so that's one of the differences between the platforms okay so what's on our menu today well one i have a little announcement and that is that uh john mcnichol is off doing military duty and i will be covering his swing trading class for the next three weeks so i covered it this week if you want some entertainment value you can go and watch this week's class um in the archives i also put a link in to the uh diagonal and long vertical class that i covered for john mcnichol yesterday and we placed three trades in that class they were all long call verticals and i put them all in our trading a smaller account account so if you weren't in that class you may want to join us i'll post on twitter a reminder but basically you know if we can add to our trading a smaller account trading portfolio in the swing trading class next tuesday at three o'clock eastern or thursday at 11 o'clock eastern i will do that okay so you know a lot of people have said oh i wish we could have this class more than once a week well now we next week you know we companion we you know we've been a companion class with the long options that i teach on monday for a long time but i'm going to you know leverage this opportunity for those other two classes yeah if you don't know what swing trading is like just come um and and you'll find out okay so then we're going to do so those are my little announcements um we're going to do a market overview at we're going to play some new example trades i have two trades that i want to manage i'm also going to record a trade management mini session after this class today so you'll see that next week it just has to you know be blessed by the appropriate powers that be and they do a little spit and polish and then it it will be um ready to go okay so let's get out to the platform and have a look at what's going on in the markets wow huge week this week so like you know a lot of the big kahunas came with earnings so we had apple we had google we had meta formerly known as facebook um i posted a lot on twitter with yesterday's announcements i also on you know out in twitterville i posted a lot of charts where i was seeing you know i spy with my little eye and inverted head and shoulders on um co part you know a potential trend reversal you know with a breakout if you click on it it then brings up you know the whole the whole chart and i posted several of those there was one on southern we placed a trade on that in a long vertical and diagonal class yesterday so this is just an example of some of the types of things um you know ctas we did one on centas as well and so you know as i see kind of interesting charts not a recommendation but just you know are you seeing these same things i i also post um you know it's earning seasons if you want to be able to see the pre or post market movers it's pretty easy to you know bring up a watch list and sometimes like this platform is very functionally rich sometimes we aren't even aware that these cool things are there so usually once or twice a week i'll post something i think i have something else that that will post on that this morning but we had a lot of earnings announcements apple was up in the after hours we'll have a look now that the markets opened um intel tanked intel kind of got clobbered and roku um you know was down the last i looked like over 25 it was absolutely decimated with with their earnings um and sometimes it's interesting you know to just be aware of these things amazon crushed it they have really responded well to their over reaction to covet in in in distribution space and in staffing and and they've really stepped up and managed things well and they were rewarded quite handsomely um in the after hours so we'll have to see okay so um let's have a quick look at the four major indices so we've got the s p 500 and you know as you guys all know i kind of like to look at a year-to-date number we're still down 15 percent um and many would argue that we are still in a bearish um trend and you know the year you know if we go back a year we were down not quite as much but it's still not a pretty number when we look at the nasdaq you know down 22 percent when we look at the dow it's actually the healthiest of the three but i'd like to point out and you know technical analysis is a bit of an art i might see one thing and someone else might see something else but when i look at this you know when i see this you know long downtrend right even though it's recovered and he's probably up somewhere between you know 10 and 15 it's still floating in this downtrend and so what would we look for as technicians well we might look for it to break out of this short term um you know diagonal uptrend and then we'd look for it to bust out of this sideways trend to break out here and it hasn't broken out of either one yet but it's it's knocking on the door okay so that's that's that one if we go back to the nasdaq you know and the bulls and i think human beings by nature we tend to be bullish and you know my kids would call me an annoying optimist and yeah i'm okay with that they also call me the supreme ruler just fyi you know and there's a story around that if we ever get to meet in person i'll i might share that with you um but you know if we look at since the middle of june you know it's come back to the tune of 15 still down like 24 year-to-date but you know it's made a nice recovery and we're seeing you know what we want to see you know it's not i wouldn't say this is a basing pattern well we'll see if it gets above this you know 12 900 ish range which would coincide with it breaking out of this kind of diagonal range um but you know what we are seeing and this is similar on all the indices is a series of higher lows and you know and a series of higher highs and and that is bringing joy in the land to to the bulls now have the bears all left town i wouldn't count count on that because you know we have seen this happen before where you know it's like oh look at that i think this downtrend's over yeah you thought so no you know it's like yeah oh look at that we're back above the 30 day yay break out the champagne yeah not so fast so we're once again doing one of these like oh and life is looking good and will it continue to move to the upside we don't know but i mean one of the things that i did i drew these lines in the portfolio management uh basics class that i taught yesterday afternoon and you're welcome to join me for that one too but you know if it breaks above this 128.99 the next place we'd look for is around this 13 500 kind of level and then around the 14 to 50-ish level and you know do we know what's going to happen no we just have to wait and see do we trade what we think we trade what we see in this class so that was something that was drilled into my head by a former coach um and you know really all my education in the world of investing has come from from one um reading but 99 of it has come from the coaches i now work with and the education offered through td ameritrade so um i am forever grateful and the fact that i'm now on this side of the camera is still a bit of a shock to me uh some days but so you know i did this very quickly we haven't looked at the russell but you know the russell kind of more of the same right like you know it's down i think over 20 still you know if we come to show price as a percentage you know well sorry it's down 17 has made a similar comeback the one thing about this that the bulls might like as a compared to the dow is that you know we have this downtrending channel right but it's broken above that it's broken above that line so you know that would make the bulls smile from a technical perspective and now it's like can it get above this 1917 ish and these aren't like finite numbers they're ranges you know like it's gonna hit this this neighborhood and hit this ceiling and can it break through and when it does then we'll look up and say okay what might be next okay okay so somebody's asking about you know a link to uh youtube videos there's an entire class there are two classes a week taught on the thinkorswim platform one is taught by connie hills connie hill on wednesdays at um i think five o'clock eastern and one is taught by i i think it's still mike fairborne um you know if you could ken is probably out trying to rustle up the link to that playlist um the playlist for um the thinkorswim videos um because they show you how you can set up um she spends a whole class just on charts i know she does connie hill okay so the last thing we're going to look at is the vix and it's continuing to fall which isn't surprising when the market has been continuing to go up and you know when we take a look at these things um you know that's all kind of as we would expect things to be and it's a sign of confidence in the market actually and you know we can see the s p already up you know over half a percent okay so there are two trades i want to manage and i usually go to um i usually go to new trades first and that was a suggestion that came out of the surveys but we're not going to discuss these a lot other than we're just going to close them out so we have a long put vertical on a line a long put vertical is bearish so our expectation was that a line would go through both our 250 strike and our 240 strike and instead that thing is now trading at 281 it's going up so it's going in the wrong direction and our option has gone from 440 you know being worth 440 to being worth 135 and so it we're going to come and look at this and unless we think a line is about to pull back we are going to exit this position so what this candle is telling us today um you know this beat on earnings is that it opened lower and actually now it just turned bullish so we're going to say you know what we were wrong on this one and one thing that experienced traders will do um is if they are incorrect they want to admit it quickly and so we're going to say yeah that one did not go according to plan we're going to come up here we have an exit on a line and we are going to just cancel that and we are going to come down to our monitor tab and we're just going to close that out we could we still have another 135 we could lose and this account started at twenty thousand dollars i mean we're up fifty percent year to date but you know a hundred dollars still means something to us uh so we're gonna just lick our wounds admit our mistake and exit that position okay so that one's done and we took a loss on that and that's okay we've taken a lot of losses in this class but we've also had more gains obviously than we have had losses but we are we are like a dog with a bone on our position sizing and we are also so we've got that in here and all make sure that that fills it's now saying oh it's only worth a dollar 27 and i think oh yeah so we'll just let that percolate and then avgo is kind of more of the same even worse in that it was started at 4 30. it's now worth 90 cents and again we were expecting this to go down from 490 through 490 and 480 that would have been our max gain it's now at 533 so if we look at avgo avgo um yeah it looks like it may be pulling back today and so someone may want to wait you know until the middle of the day but we are going to exit that position today okay and just say you know what um didn't go according to plan um and so we're going to exit that position we're going to cancel the order that we had in so a v g o right down here we're gonna cancel that and then we're gonna come back up here and say yeah that didn't go you can see it was worth 90 oh it's worth another five bucks so confirm and send so those two were out of um and you know what we i thought we had put an exit on that one before i'm gonna look into that that if the trade had gone against us we would have been out at 50 um you know somebody's just asked me about that in the chat and i must have put that order in incorrectly because obviously it wasn't there to get us out so i'm going to do a little homework on that at the end of that class at the end of this class okay so that's the two that i wanted to discuss trade management on so we'll close up that window because we aren't doing any long put verticals today southern we're out of so we placed this order yesterday um southern trade history so we got in this for 79 cents and we put in an order instead if it gets to the point where it's worth a dollar 25 which was a 50 gain we wanted out and so i'll review this one in our trade management mini session but we were in this trade for all of one day so what we may do is place another trade on southern today i have my sheet i'm using a pink highlighter today but yesterday in our vertical long in the long vertical class we placed three example trades um and so one was on costco one was on adobe you can see that we are already up you know 20 on adobe and um our strikes were 400 and the 405. if

you didn't watch that class i put a link in close to the top of the chat and i'll put a link into it in the comment section down below if you want to add these so you can follow along we're up a little bit but you know not with you know outside of the range and and then we also did a long call vertical on costco with the 530 and the 535 strikes and with southern uh we did the 75 and the 77 and obviously that one worked out quite nicely because we're already um we're already out of that and so if you wanted to look at the charts on these adobe uh was one and and this is one where you know it's trading within a range and we thought okay if we can sell to you know do a long call vertical within this range it could work out for us and so far that one's working nicely and then we did one on costco or did we do yeah we did do costco um and that one's you know moved up yesterday it's down by 56 cents like you know a fraction of one percent we did these yesterday in the long vertical class and then the third one was southern and southern's obviously been moving nicely and you know southern was one of the ones that i kind of drew um and i posted this on twitter we've got kind of this cup and handle pattern right maybe a double handle have you ever seen those fancy double handle cups so there's our cup and our handle and you know we've gone from 65 to 73 so about an eight point range so if we're saying okay we'd expect this to move up maybe eight dollars so that would move it up to about 81 ish um could we do another one well we could now you know um yeah it could we expect this to pull back and not be shocked yes so if we did another one we may you know we may then want to give it a little bit more time yeah yeah and so for steve parks um i am covering swing trading and the long vertical and diagonal class next week as well if once a week just isn't quite enough okay so let's get to some new trades so one that i wanted to look at today was cprt yeah and sometimes we will end up with what i call a a paper money fill in that we will get a better fill in paper money than we might get in our live account cprt okay there we go so co-part and and you know tuesday you know was a little bit frustrating because we were seeing all kinds of things setting up but they weren't quite here yet um you know and then you know the the week has gone on and now all of a sudden a lot of these things that were not quite breaking through have gone ahead and broken through sorry i'm trying to talk and draw and i'm not doing so well at that but we kind of have an inverted head and shoulders pattern here it broke out it came back to retest and now it's moving on up again and so you know a technician might say well that looks like a bullish pattern to me we have you know and i'm i'm kind of eyeballing it about a 16 point spread here so if we were expecting this to move up 16 points that's 118 128 to about 134 you know it's got about another eight dollars you know that we could expect it to move you know and will it move to 134 well we you know we don't know um but that that is what a technician might expect especially since it's broken out come back and retested you know and i was saying you know with southern we might see that retest and we haven't seen that yet and then sometimes it will just keep on going but so if we look at this and say okay we like the pattern now what do the options look like if we come out here and say you know the bit asks spread man that's a little wide that's a little wide and so we have two choices we can just either not trade it at all um even though we've got like lots of volume here or you know one thing we could do with this is instead of doing a long call vertical we could just buy the put but we've got like a 60 cent spread um and and say like we want to get filled at the middle or we're not going to play so if if we're buying this we don't want to pay 450 if we can't get it for 420 then we're not interested but we could do this and put in a target and then put in an exit and so let's do that so let's come in we are going to buy a single well actually we are going to buy custom with an oco bracket um and and we're going to put in both a target and a and a stop and we're going to do a swing we're going to treat this well not as a swing trade but as a targeted trade so how much are we risking here well first of all we're going to try and get in for 420 instead of 450 um to mitigate the the fact that the bid ask spread is pretty wide and then we're going to make this a market order and when we come out to the chart remember we had said this was you know our target here might be around 134 because this was a 16 point spread so 118 plus 16 134 we might knock it down a couple but you know a couple of dollars maybe say our target 132 just in case it doesn't quite get there and if we look at back here you know it hit you know 130 93 almost 131 so we could even make it 131 you know based on this information and this previous high so let's come to back to our trade we're going to make this a market good till cancelled you'll notice that if i put in good till cancelled in one and not the other it'll say the market order must have a day time in force it's because i haven't put in a conditional a condition yet and the condition is that i want to exit this when copart goes at or above 132 dollars and is this is set it and forget it no we are going to watch this if it gets to 130 150 and looks like it's going to pull back then we would exit the mark is the difference between the bid and the ask yes okay so that's that side and then when we're doing a trade like this sometimes what what a trader will do is say you know if it gets to the point where it has lost half its value we are going to exit this we're to take our 50 loss and go home and lick our wounds now is there a guarantee that we'll get out at 210 there is not we if it gapped down we could get out at less and you know also just because we've got a target and a stop doesn't mean we're not going to manage this as if it as it goes along because time is not in our favor when we're buying an option so you know if it hasn't gone half the distance in half the time you know time decay starts eating our lunch so we may just decide to exit this trade so confirm and send we want to buy one of the august calls and you know what we might actually want to change the date on that and go out to september because august is only giving us about three weeks and time decay you know what i'm going to set this one up again um sorry folks we're gonna pay more for the option but we are we're giving ourselves more than double the time and if i add theta to the mix here we just bring up theta theta is at six cents here 125 it's the same i'm really surprised at that but that's going to start escalating and it's going to start costing us more so we're going to give ourselves a little more time on this one so again we're going to buy custom with an oco bracket repetition is the mother of all learning i'm going gonna go quickly so we're gonna make this three oh what was our for september 6 30 7 30. so we want to make our mark we don't want to pay more than seven dollars for this we can get filled at seven dollars we'll take it 350. so 350 and we're going to make this an exit based on the price of the stock and that's going to stay the same and that was at 131.

okay yeah this is a little heavy but because we put in an accent now we could lose the whole amount and that's more than we generally want to risk in this class but we're going to go ahead because we've got an accident and we're going to manage this as we go along okay so that's co part and we're gonna put that in our long call bucket okay and and you know it's saying here due to potentially wide markets or liquidity risks you know this we may manually substitute with a limit order upon activation work until filled what that's telling us is that you know we are still um the company is td ameritrade is trying to work on our behalf and so um you know that's that's good news okay so let's see if we can get that one filled that's that um another one that i wanted to look at today was i guess today is sponsored by the letter c c task and again do you see the similarity in the pattern did i not put 350 in for the stop steve the stop is at 50 of the option value yeah if i didn't do that correctly i'll go back and fix it because i'd like to get a couple of other examples in um but again here we have kind of another it's not perfect but kind of a head and shoulder z type pattern or you could say it was trading in a range but i kind of spy with my little eye something that looks to me like i had inverted head and shoulders and again the idea 343 to 404 so call that 344 to 404 so that's a 60 point spread you know so if we look at that and say okay then we'd expect that to go to 464. now this is a pretty expensive stock so i you know buying just the option is likely not going to be in our snack bracket oh isn't that interesting so you know we could drive a truck through these bid ask spreads and so what that tells us is that you know if i come and i've set up my own basic setup even though we have some option volume we only have monthlies which of course makes option traders a little nervous it tends to mean that they're not as heavily traded um and when we come and look at these a five dollar spread you know you could you could drive a truck through that so on this one even though we really like the look of the chart we'd have to say sorry um that's just too wide a bit as spread and we're not going to to play and sometimes we just have to do that you know and if we we have a rule and you know we want to follow that okay so that's that one now we come to tesla and what is tesla doing today yeah steve is saying yeah that's we need to walk away and so we're going to walk away and sometimes i deliberately put those in there on monday we started the long option class by going through three or four examples of things that didn't make the cut you know maybe they had earnings coming up the next day um or something like that and we just or within the next couple of weeks um and so you know because i get asked a lot how do i find the examples that we choose to trade and and really quite simply i typically go through the you know the dow 30 that the nasdaq 100 sometimes i'll go over to the s p 100 um and then you know just stocks that i hear buzz about i'll look at and and you know there's nothing nothing spec special i don't run any kind of fancy searches but here we have tesla came down to 620 it's now up at 8.66 um and you know we're just seeing this nice steady kind of um recovery but you know this is an expensive stock it is not in our snack bracket to be able to either own the shares with our account size or to to buy a call i mean this is an eight this is double the price of the last one but one thing that tesla has that um centas didn't was we've got lots of volume so here's a 38 you know on the put side you know a 38 option well this is 40 and it's got a 50 cent bit out spread i mean it doesn't get much tighter than that and you know we've got 10 000 contracts here it has weeklies um but if we looked at this and said well how about we do a um a long call vertical so we're expecting this to continue to go up we're just going to go out to august and it's trading just above 8.65 so how about we come here we're going to buy a vertical we're expecting it to go from 865 to 870 how much could we make we could basically double our money because we the most we can make is five dollars less what we paid to get in are we going to wait to double our money we are not we are not going to wait to double our money what we are going to do is say okay um it's if i pay 258 to get in i'm going to multiply that by 1.5 if it gets to the point or when it gets to the point where it's worth 50 higher would be 387 so we could say you know what when this gets to the point where it's worth 390 we would like to exit this position how many can we afford to do we could do two so if we create an opposite order we're going to exit we don't have to wait for it to get to five dollars if we can get out with a 50 percent gain we'll be happy campers now some of you might say well i think that's daft because i you know this stock moves more than that five dollars in an average day and you're right it does but the idea is we don't want to be in this until august 21st if we could be out of this trade on monday we'd be thrilled or tuesday or wednesday or thursday and i'm not saying we will be um but we're just going for a little win little win little win rather than trying to get the most out of it and this my friends i am telling you like what when i first heard coaches saying you know if we have a 50 game that's good enough in a quick what are you doing why are you getting out now that's nuts yeah i have since changed my tune on that especially in a market like this where some kind of news can come out and all of a sudden the market is just going down and you we've had a bob moment and i say you know we don't want to be like bob where we get into a trade we have a nice profit then we give it all back and we end up in a losing position so we don't want to be you know like bob right so what we want to do is if we can take a little win we're going to take it ring the bell we can always place another trade okay so yeah going back to our regular programming so that's what we're aiming to do here confirm and send so what's our theoretical max loss 470 dollars you know can we afford to lose 470 we can how much could we potentially make 530 are we looking to make that no we're saying if we can make 320-ish we'd be thrilled okay how did i get the coaching yeah i i got the coaching by watching webcasts like this yeah and in fact scott thompson who's now a coaching manager he used to teach a class on fridays called the one atr strategy and i used to watch that so if you're wondering like where i get this stuff from um yeah look around the other coaches this is how i learned all this stuff james boyd scott thompson ken rose like the whole gang yeah so if you keep coming back you know you'll you'll learn this stuff um yeah so catalan so ctlt oh this is funny ctlt and other t stock let's go have a look at it and then we'll we'll have to close so this is a long call vertical somebody said could we do a short put vertical yeah we absolutely could and we haven't done as many short verticals this year because typically with a short vertical we're playing the time decay game and and we tend to be in those trades longer and those haven't worked out as well for us and yet this year and it's interesting because um the last two years at the by the end of the year our account had done very well it was up in the neighborhood of 50 percent is it tip that typical no but we did short put verticals coming out the wazoo and we played that time decay game but the market was just going up and playing really nicely well this year nobody's playing nicely and everything's been going up and down like crazy and so we have t we've employed a different set of strategies and we've traded differently because the market's behaving differently but absolutely we could have done a short put vertical if we're expecting that at least for the next three weeks the market's going to continue to go up um now we're we're getting kind of tight on time i wanted to come and look at ctlt so we're gonna have a quick look at that because i put an alert in for myself i'm not sure why oh so you know this is catalan and if you're not familiar with the company you know they're in the healthcare space which has been doing well um but you know what it's kind of one of those ones that was vexing me where you know we've seen kind of some might look at this as a very long like head and shoulders type pattern right but it hasn't quite broken through yet and so this is one where you might say you know a lot of trading is knowing when to hold them and when you know when to be patient and then when to play but you know we want this to really be above that like 115-ish kind of level and some might say well it looks pretty good to me like you're looking out longer if i just look out here and maybe this is why i put this in it's broken above these two previous highs and they might say i see a little mini head and shoulders here and i'm good to go i'm looking at the bigger one and go i hear you and let's just be patient and wait another for it to go up another 50 cents yeah so on that note we might want to add that to our our watch list or yeah somebody said i see a cup and handle yeah wherever there's a an inverted head and shoulders we typically could see that as a cup and handle also so there's patterns within the patterns kind of like the stacking dolls right but guys that's a wrap for today so what have we done um well we exited two positions um you know we we exited um a vgo and we are also going to get out of the other long put vertical that we were in if that didn't fail i'm going to go in and make sure that we get out of it um we did we added three positions to our portfolio yesterday three long call verticals adobe costco and southern which we're now out of and then we did a short sorry a long vertical on tesla and a long call on cprt so guys i think we've done what we set out to do we you know did a quick market overview we looked at some new trades please feel free to join us on monday for long options where there will be you know more fun in the markets if you enjoyed this class if you could hit the like button subscribe to this channel you know there's a button over in the corner if you'd like to subscribe you can turn on notifications and then link arms with us we meet every friday at the market open we've got 45 minutes together and i don't know about you but i always look forward to this and have a blast and i'm continuing to learn right along with you i want to thank ken rose for joining us in the chat you want to join us over in the land of twitter of course as well and then keep in mind that in this class everything we do is for education and example purposes only none of it is to be construed as a recommendation on the part of td ameritrade or myself and so with that i will tip my hat to you have a really awesome day up next i think is connie hill with getting started with stock investing so i hope you'll join connie for that take care everyone have an awesome weekend bye for now we'll see you monday

2022-08-01 11:42

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