Friday, December 30, 2022

Friday 30 Dec 2022 Morning Notes

Taking it easy this week, nursing my losses in my ill-fated MDGL straddle. Looking like I'll eat about a 18% loss in the position, so it goes. This year was a bit of a brick, only managed to finish about +8.1% on the year in the options account, which I guess isn't bad vs. -20% in the SPY and -34% in the QQQ. Had an overall trade win rate of 75%; however, the 25% of trades that lost money were large losses. My long straddles which have historically been my bread and butter have largely under performed and were some of my biggest losers. Therefore, I've been spec'ing a strategy related to the long straddle but reduces the risk of a large loss. My overall win rate will go down, but I think it will make more $ in the long run. I hate changing my style, but I think it makes sense given the current vol regime vs. the vol regime when I was doing exceptionally well with the long straddles.

See everyone in 2023!

Yesterday AMC:
Today BMO:

Other News:

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FUTU: -27% on Chinese govt investigation;

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Day before Y'day AMC:
Yesterday BMO:

Y'day Other News:

2 days ago AMC:
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2 days ago Other News: Tesla continues to get smoked as the stock price falls closer toward reality;

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