2016 started with cleaning up a bit of the leftover mess from 2015. Not much happened in January, but a few important changes did occur.
First, I’m taking lessons learned from 2015 and applying the now. A review of all of 2015 is coming soon, so you’ll be able to see the lessons I’ve learned and how I plan to apply them. Much of it revolves around managing trades better and selection of the underlying security.
The other item I’ve begun to focus on is dividend investing. I know…some of you are probably giving your screens a questioning look right about now. I’ve never really mentioned dividends before, but it’s becoming part of my larger plan to get to generating $5k/month in income.
Again, I’ll lay it all out in my review of 2015 and my strategy moving forward into 2016 which is coming soon, I promise!
For now, let’s get down to brass tacks and what happened in January.
I only had two trades in January. Work really restricted my ability to do any trading practically the whole month. I switch to a night schedule for about three weeks which basically nullified my ability to do any trading.
I did make two trades though, one winner and one “loser”. I put it in quotes because I rolled that trade into February. I didn’t quite manage it right, but I was moving the right direction on it. There’s still some tweaking to do on the details of the trade.
My winner was with TRN (again) and was a run of the mill covered call. I seem to have good “luck” with TRN trades…can’t say for sure on the numbers, but I think i’ve probably won about 80% of my trades with TRN.
Anyway, that’s about it for January. As I said not much going on for the month. I’d love to hear how your trading went. Leave a comment below or hit me up on Twitter at @optionstudent.
January Net Income: -$52.18
Total 2016 Net Income: -$52.18
|Strategy||Stock/ETF||Option||Entry Price||Exit Price||Commission||Net Profit||% Gain/Loss||# Lots|
|CC||TRN||Feb 16 $27 Call||$.55||$.15||-$10.09||$29.91||72.73%||1|
|CSP||CNX||Feb 16 $7 Put||$.44||$1.16||-$10.09||-$82.09||-163.64%||1|
CC = Covered Call
CSP = Cash Secured Put