May Trades

Trades:

• Added 10,000 CAD to the Margin trading account, and 5,000 CAD to the TFSA account.
• Bought 8 contracts PCX @ 6.00
• Sold 8x PCX Strike 6.00 @ 0.15, expiry May 4th.
• On the $4,808 spent buying the 800 shares, this is 1.69% ROI if assigned (due to auto-assignment fees), 2.12% if the position expires.

Gut Check:

• Got the Weekly on the PCX because I wanted to have cash on hand for this month's conference calls for DNDN, PCX, and INVN. Price of PCX has been very volatile this morning. Hopefully it'll close this week at 6.00 or slightly above -- or at least not drastically low.
• Still feeling a bit anxious about my decisions after April, but I need to push forward.
• Still two and a half weeks left to make money. Hopefully I can turn things around and not feel anxious about making excessive amounts. The early months of 10% ROI were fortunate, especially when the benchmark returns for options is 1% per month. I need to concentrate on getting assigned, returning to cash, and still coming out ahead a few percentage points.
• I'm about 10,000 away from asking for Options Level 4, which will let me do cash-secured Puts. Looking forward to choosing trades more likely to end in a cash position at options expiry!