Let's talk about this weeks option trade first. I placed a 167/169 bear call spread on the SPY on Monday. I lost the trade and gave back some of the gains I've made the last few weeks. I knew I should have bumped up to the 168 strike but there's no use crying over spilled milk now. There's always next week right! One thing I've come to realize is that no one wins every trade. The market's just a beast! I even read this week that only 8% of hedge fund managers actually beat the market! These hedge fund gurus are supposed to be smarter than the rest of us and even they get humbled by the market. Whether you invest or trade its important to stick with your plan and just ride out the bumps in the road.
Now to the good stuff. When I came home tonight there were a million things I could have occupied myself with. But I decided I wanted to sacrifice my desires and give my time and energy to my wife and kids. I played ball and wrestled with the kids and even helped my wife cook dinner. It wasn't anything big, but this was one of the best evenings I've had in a long time. So the message here is to take the time to enjoy the important things in life. We only have so much time and when it's gone.......it's gone forever.
Have a good weekend everyone. I'll be ready to trade on Monday! If you're new to options be sure to read the first few blog posts to get up to speed fast.
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