Robinhood Options Trading Day 4: Pre-Market & Opening Hour Update
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Good morning traders.
Today the Dow Industrial Average was set to drop 300 points based on pre-market activity. Boy did it move. It was down almost 2% when i woke up before the opening bell.
So far today, my open positions are doing well, and I also picked up some GLD - SPDR Gold Trust options. I paid a premium, 4 contracts at $183.50 strike price at a cost per share of $1.31 average. So far here's our results almost an hour into trading.
New position GOLD - Barrick Gold Corporation looking really nice today so far.
Decided to sell in profit... the results of this trade are better than any outcome one should expect, and always remember to take profit when you can. This trade is from August 2nd when i placed it, it filled this morning, and now I'm closing it.
FIT - Fitbit option is up 50% this hour.
I decided to sell my FIT Put at 8AM PST. 60% overall return on investment. 33.33% just today. I sold for one cent shorter than the market, because there were only 3 open bids at .08 cents and none at .09 cents per share for this option. Uncertainty in the market. It's good to free up funds so you can hunt for another option.
ACB Aurora Cannabis $5.50 option is up 42% today, 66% overall. This stock has been my biggest winner so far because i watch it's moves and it tends to move well, and has popularity and demand.
Sold at .10 cents per share at 8AM PST.
Sold ACB $6 PUT at .27 cents per share
So far GLD has dropped a bit since the high of the day, as of 8:54AM PST. I still have confidence in it as the trade war is ongoing and we wait for September to come when we return to talks.
NOTE: Most of the time I prefer to stick to stocks that are under $25. Most popular under $25 is the best way to look for trades on Robinhood. I'm going to look for some more trades, and will post updates.
I bought HL - Hecla Mining Co.
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