Hello to all of my fellow traders! Welcome to my first post in what I hope becomes a very long running blog. My plans for this blog is to discuss trading techniques, specific trading situations, and life in general; and to do it in the comfort of my own website. This blog is going to become an outlet for my stream of conscious.
I wanted to make sure I got my first blog post out today because I like the symbology of starting something new on January 1st. I had already made a new years resolution to begin a blog and generate consistent content throughout the year. I would say this is getting things kicked off on the right foot!
Without further ado, let’s take a look at my trading account to get a baseline where my positions currently sit.
I currently have 2 long stock positions in ABBV and MMP. These are long-term buy and hold positions that have a high dividend yield. On my ABBV position I am selling covered calls for additional yield. A 30 delta call with 60 days to expiration is currently yielding 2%.
I also have 2 short straddles in QQQ and XLE that are currently inverted with 45 DTE. Those were straddles that I sold during the big selloff in December but I was forced to quickly roll them out in time and roll the calls down into inversion to protect myself. The big post Christmas rally has placed the positions in better equilibrium, but the situation was getting a bit hairy in that last week of Christmas.
I will discuss all of my current positions in future blog posts and eventually get around to discussing general technique and strategies. For now I will wrap things up and leave you the way I started, with this motto, “2019, the Year of Green, Green , Green!”