This is for all Investors

We had a good day. Lets talk a little about “Our Score” There used to be a worksheet, with it an investor would keep track of his / her proficiency.
It went like this: You would take 50 trades, Entry / Exit. That now gives us 100 opportunities. Every time you made a mistake on a entry or a exit you would deduct 2 points from your starting score of 100.

Lets say you wanted to buy XYZ but still had BLAH in your Que and bought it by accident. There goes 2 points
Now lets say you wanted to pay $100.00 for XYZ but paid $110.00, there goes another 2 points
This time ( my personal favorite ) lets say you wanted to buy 20 Options contracts of XYZ but you fat fingered 200
Your trader score is now 94
I have done each and every single one of those, more than once
With Options it’s about 45,873 times easier to do those by accident than it is with stocks, and I’m being generous. The reasons are endless
How can one improve their trader / investor proficiency if they invest with Options?
It’s simple, know your Options Chain.
Rule #1 in Options is “Know your Options Chain”
If I own Options on XYZ, I will do nothing but stare at the Options Chain of XYZ every day, 5 days a week, for 30 seconds. If I have 5 different names, then I stare at all 5.
2.5 minutes a day, 5 days a week, for 2 months and if you don’t start seeing the prices move differently consider going to see your eye Dr.

That is exactly what we have right here, right now in many names. Our beloved CAT is the main one by far. It has shot up in price so fast, so quick, the Market Makers are now adjusting prices higher by percentage to reflect it’s demand. Remember 9 trading days ago when I shared that with CAT the sun, the moon and the stars all lined up together perfectly? And how rare that was? Well they did, and it is rare. We are up on CAT, and we are up “Biglee” but any new investments from here will be extra strategic. As in extra effort.
Should it hold this $390.00 level that it’s currently at a few possible investments could be Bull Call Spreads
390 / 392.5 for conservative investors
390 / 395
390 / 400 holds the most risk yet the most for potential return as well
Those are all for OCT 18, 2024 which is closing in faster each day.

GE tricked us today but we are covered with using Spreads
SFM was not at it’s best but it’s been on a tear as of late. we took on plays today with the price at $109.00.
SN and AMZN are both on hold at the moment. Tomorrow is another day

The Options Coach