Hi Antagonist members,
The trade that I discussed in the premium member chat filled a few minutes before the market closed. I’m sending the email now because I was away from my computer when the order went through, and I just got home.
That’s one reason why I love trading spread options instead of day trading: I don’t have to stare at computer all day. I simply set up the order that I want and walk away. The trading platform does the rest.
This new position is a bullish trade that expires next Friday. I’m using it as a hedge against our other 2 positions that expire on the same date. If the market drops next week, those positions should net a profit. If stocks rise, we’ll lose money on those trades, but our new trade will earn us some money. That’s what I mean by a hedge. It’s a position that gives us downside protection.
Here are the details for this new Challenge Portfolio position:
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