Week 49: Dec 6 - Markets, Bitcoin, NFT, and Options Tradings.
Week 49: Dec 6 - Markets, Bitcoin, NFT, and Options Tradings.
- Dec 6 Markets
- Dec 6 Portfolio in a RED day - Profit or Loss
- Options Trades for today.
- Bitcoin / Ether
- NFT (Splinterlands SPS) update
Dec 6 Markets
Today, the US markets ended down. It has been primarily green for the last 4 or 5 weeks, and I have been looking forward to some RED days and some RED weeks!
Dec 6 Portfolio in a RED day - Profit or Loss
When markets are down, my portfolio normally follows the S&P 500 direction. Here is my result for today:
If you did not read my DEC 4 post, read it here.
Options Trades for today.
For a strange reason, the order history is not working right now, so it will look different from all my posts from the last two years. This is the raw history that is from the Bell (on the top right corner of the web page):
My Dec 6 Trades:
- Rolled Covered Call on OZK up and out.
- Rolled Put Side of Visa Iron Condor from $200/210 to $215/225.
- Rolled Covered call on RIOT up and out.
Where is what I would like to happen for the remainder of 2023:
- Markets either correct or stay flat for the next three weeks.
- I'm fine if the markets drop 5%-8%, but I don't see that happening.
- My Iron Condors might still lose money if the markets continue the GREEN up pattern if we look back at the last two months. My portfolio would do better if the last two months were flat (meaning I need some RED weeks to offset the GREEN NOVEMBER we just had.
Bitcoin / Ether
This week has been very exciting for Bitcoin. BTC touched $44K, and the week has been a big ride for all coins and the alt-coins market also.
I'm down on today's price action, but I'm fine if the markets drop 10-20% before it runs again. At this point, I can still wait to see what will happen. I have five months left, and some of my longer-dated options have about 13 months remaining.
NFT (Splinterlands SPS) update
This week has been great for SPL player also. The SPS token is up. New cards were introduced and old ones were rotated out.
As a small player without LAND and Zero Pack of Rebellion, all I am doing is to continue to grow my BAG of SPS. I can't justify the cost of $30 for common land and then spending more money on Time Crystal, staking DEC and placing workers on that land. I will miss out on land for now, and my focus is to continue to trade cards (duplicates) and buy/level up the ones I need.
That is the beauty of a TCG (Trading Card Game).
I still want to work on getting more Gold Foil and selling out my regular foil. It will still take me years to rotate out of RF and into GF as I trying to do it without breaking the bank.
Have a profitable day,
Solving Chaos
