How to Turn a Losing Trade into a Winner
Dear Profit Takeover reader,
I believe this week will be all about testing the lows.
The S&P may threaten 4250 and then bounce.
QQQ is testing the low of 318 from Feb 24th.
We might see a little bit of a bounce, but for now, I believe the market is looking for a bottom.
In the Profit Revolution, we’ve been playing the downside and pulling some profits as we go.
These are some partial plays we’ve made in the Profit Revolution over the past month.
We had a losing option in SPCE but I closed it and rolled it into a winner a few days later.
We closed the SPCE April 1, 2022 $7.50 puts position at $0.35 on February 28th –
And opened the SPCE April 1, 2022 $9 puts for $0.80 on the same day.
I knew that the stock was going to drop, but I wanted to open puts (profitable when a stock drops) that were in a stronger position volatility-wise.
Then on March 3rd, we exited 1/2 of the SPCE April 1st, 2022 $9 puts position at $1.30.
And the next day we took another profit of 1/2 of the remaining SPCE April 1, 2022 $9 put at $1.60.
Finally this morning, we exited the last of the SPCE April 1, 2022 $9 put at $1.70 – up 100%.
I led traders to a winning trade by recognizing where volatility was too expensive, getting out, and finding a trade that had more exposure to price and less exposure to expensive volatility.
I talk about these and other strategies every weekday in the Profit Revolution.
I am still on a hot streak and I’d love you to JOIN US HERE in the Profit Revolution to make profits as we continue trading the downside.
CLICK HERE or call Gabe and his team at: 877-848-3418 if you have any questions.
Hope to see you today at 2:00 p.m. (ET) for the Profit Revolution show.
Until next time,
Founder, Profit Takeover
P.S. The Biggest Trading Week in 5 Years is Almost Here
A lot of factors are coming into play next week, and I want you all to be prepared.
That’s why I am hosting a Quad Witching Summit on Wednesday, March 9th at 7:00 p.m. (ET) –
Four stock derivatives expire on the same day, and that will cause HUGE volume and WILD volatility.
Make sure you learn how to trade it… at my free summit.
CLICK RIGHT HERE to add it to your calendar now.
We are in a serious bear market.
Every day the market just seems to drop a little bit more, but doesnt seem to want to completely tank.
Until that can happen, we might be in for a lot of slow grinding moves lower with VIX ratcheting higher over time.
We could see VIX hit 40 – 50 this week.
Traders don’t want to be long when my VIX traffic light is this green.
LIVE SCHEDULE (ET)
Wednesday 3/9: 10:30-11:30 a.m. Profit Takeover AND 7:00-8:00 pm Quad Witching Summit
Thursday 3/10: No Main Room Shows
Friday 3/11: 9:30-10 a.m. Profit Takeover with Brian King
- Transocean LTD (NYSE:RIG)
RIG is blowing higher on oil pricing.
We are seeing a parabolic move up towards 5.25.
I would look for an option to go bullish here.
- Denison Mines Corp (NYSEAMERICAN:DNN)
All uranium stocks are higher today.
CCJ and DNN are having a strong morning.
I would look for cheap calls here.
- Financial Select Sector SPDR Fund (NYSEARCA:XLF)
Financials are getting crushed and big money continues to play the downside in XLF.
XLF could be heading to 32.
I would be looking at cheap puts in XLF.
March 07 2022
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