I was fully expecting the news of the Trump Impeachment would affect the market. But that proved to not be the case.
The market seems unaffected. The S&P 500 is still trading in the same zone it had being for the past couple weeks.
Which is good news to me because the SPX iron condor position that I opened up yesterday has squeezed out 75% of the potential profits over night.
The safe thing to do is to close the position out, take the 75% confirmed profit and not have to worry about market volatility for the rest of the day.
And that is what I did. Since there is no commission to close a trade on TastyWorks, I paid 0.25 premium to close out the trade.
And since this is Day 3 of my challenge to turn $5000 into One Million trading stocks and crypto, it is time to gain some momentum.
Playing off the market, I got 2 trades opened today.
1. SPX - Iron Condor - EXP: Sept 27 - Strike: 2890/2900 - 3020/3030 - Premium: filled at 1.05
2. VXX - Vertical Put - EXP: Oct 25 - Strike: 19/20 - Premium: filled at 0.17
Model Portfolio (Starting Amount = $5000): Day 3
Model Portfolio total (all calculated AFTER commissions): $5092 - $25 + $98 + $147 = $5312
Current Position: 2 (SPX, VXX)
Position Remaining: 2
Cash Position Remaining: 1
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Disclaimer:
All contents that I produce are for entertainment purposes ONLY and should NOT be construed in any way as financial or trading advice. All trades that I will be writing about are purely theoretical and should NOT be construed as a real trade.