$200 RobinHood Option Account Challenge - Week 1

Last year I had a few success stories of taking a small account and going on streaks of 1000% on robinhood options. Its a tricky game and its hard not to let emotions get in the way of trades. So here; I will start with $200. If I fall below $100 then I will re-up back to $200. If I remain over $200 then I will not add any money at all and try to continue onward and upward.

First week I only had 2 days of trading. Broke several of my own rules here. First off I like time - theta is time decay in options and I like buying time but I wanted the contract for a cheap price.

IQ - Iqiyi is a Chinese streaming company
All Chinese stocks seemed to be going upward and I jumped on the trend. So I bought a contract and sold 2 hours later for a $42 dollar profit; up 41% on my first trade.

This is where I should have stopped. The next day on a Friday was the first down day all week. I thought the trend would continue downward and I was wrong. The market recovered and seems to have a lot of confidence restored from a battered down December. Lost $32; down 13.2%.

Then I decided before market close to buy NFLX. Earnings is next Thurs AMC and we have already seen Roku hint at a good quarter. Roku devices feature Netflix as an alternative to cable. A lot of people are cutting cable to save money... I see a lot of people asking about it on fb and more and more people seem to be streaming TV through other means and its accelerating at an alarming pace. So once again; normally I don't hold contracts over the weekend because you never know what kind of crazy news or tweets will come out; its a gamble and one I shouldn't be taking but I do feel Netflix will have hype on earnings in the week. So I plan on running up to earnings but not playing earnings.

NFLX dropped a bit aftermarket hours on Friday and it drops my total down to $177 at the end of the week. I need to plan my trades out more; the FB one was a whim and should not have made that move. So far down 11% at the weeks end. Hopefully next week will be better.