Trade Update: MGM

I exited my MGM trade at a loss. Last week, I bought 4 July 15 put options at $0.77. My loss limit was $0.65 and exit point was $1.25. At one point I was half way to my exit point on this trade. I believe I was expecting too much out of this trade/trend. Instead of a 50cent move I should have looked for maybe only 25cents. I did stick to my loss limit so, I did good there!

Here’s a look at how I did:

# Shares or Contracts Purch Price Capital Out Sell Price Capital In Comm & Fees Gain / Loss

% Gain & Loss

4 0.77 308.00 0.65 260.00 10.00 -58.00 -18.8%

My charts for this trade:

130516 WFM

130516 WFM


What do you think? Let me know in the comments!

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