A New Start. Futures Trading

Happy Monday all,

Today was the first back on the Top Step 50,000k combine account. I ended up taking a total of three trades; two losers and one winner. My total was a loss of $275. With the $50,000 account, the rules are a profit target of $3,000, a daily loss of $1,000, and a max drawdown of $2,000. I do trade on the TopStep online platform as I have an account for TradeStation that I have been practice auto trading on. I do want to recap the options I played out last week and closed out. I had a total of four closed out options trades last week for a profit of 485.96.

Before I continue to talk about options, I want to mention that I am trading with a $2,000 option account. I am buying options at a low cost and selling high or waiting till expiration depending on the trade.

Last week was the high of S&P 500 that I was watching closely as stock were hitting the roof during the open and then started to sell off throughout the day. So, I ended up buying calls at a low cost during lunch hour. The next day I would watch the markets open and my options being worth double at the cost. I sold some within a day and some the following day. As I saw the overnight future markets trending down, I started to close more positions. (Overnight meaning when the European markets open) Here are my Trades. (With commission)

BA – Aug 9 2019, 380 Calls – Held for three days, profit $273.55

FDX – Aug 9 2019, 155 Puts – Held for one day, took some profit as I still have two more contracts, profit $72.51

HA- Aug 9 2019, 30 & 27 calls- Held for seven days, profit $139.90

These three stocks I will also be watching for next week. I am buying out of the money calls with a date of 4 weeks.

HA had a dropped to the $26.50 price level and I keep adding more once the price is around $26 of a price target $30. Earning date is 7/30/2019 after the market.

FDX- FDX had a major push to the upside but can’t seem to pass the $170 level. I have a vertical call spread that is expiration on Aug 9 and looking to adding more puts if I don’t see a push tomorrow over the $170.

BA- I am long BA for the LONG haul. I think in the months to come BA will reach back to its High. BA needs to pass the 380 level before I see a big move to the upside. unless I see BA drop $10 a day then I’ll add more calls. Earing date is 7/24/2019 before the market

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