Here’s the statement sent by my broker for the “legendary” 800% Profit trade for STOJQ7. You would note that the fees are not factored in for that trade. In real life, I spent nearly 10c to get in and out of the trade, 37.11 to open and 37.11 to close, so a total of 74.22. Herein lies the challenge. My total fees – 9.27c is bigger than my “position size” which is 7.5c per trade. Now I feel a little sheepish hehehe To be fair (to me hehehe) I really just wanted to hedge / protect my other position (Covered Call) which is 600 shares.
It’s kind of like the song — “Don’t you wish your girlfriend is hot like me?” — “Don’t you”. Yes, I wish I could have done better in this trade!
1. I wish I had gotten more shares / contracts – to lower my cost per trade.
2. I wish I had only spent 5c rather than 7.5c — I was actually in a hurry that Friday, and I thought I’d get in as fast as I can, but if I had controlled myself and focused more, I could have gotten it for 5c.
With a 5c per share trade and 2000 shares = my total cost would be 100 for the shares and 37.11 to open, which is still within my position sizing! So, profits would be, $ 1110 paycheck for the same time and effort!
Oh well,,,, next time! Here’s the liquidation advice. Look Ma, no tricks!
STOJQ7 Liquidation
