Friday, January 21, 2011

JAN11 Options Expiration Results

So from a bottom line dollar standpoint alone I'm happy with the results this month. But I made a few mistakes and gambled and lost a few times as well. What I'm actually most proud of is the one loss this month because I stuck to my trading rule there and got out when my exit point was triggered. This trade would have ended up losing ($1,000) had I stayed in until expiration hoping that it would somehow work back to my favor, which is something I would have done in years past. What doesn't show up on the P/L is missed opportunities to re-enter the PFE long calls, and a short on ZB that both would have been winning trades. I also closed out two trades (NG and KMP short puts) early hoping to get a chance to re-enter but they didn't materialize. Total profit left on the table for those two early exits is about $860, missed trade opportunities total is about $1250. There is rarely such thing as a perfect month as I can always find something to get better at, and I just as easily could have lost money on re-entering those trades, we'll never know. So I take the good with the bad, continue to try and learn from my mistakes, and keep going forward.

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