SUCCESS STORY

Jerry,

I'm excited to be sending you my first success story! Wednesday, May 19th, I was hopping on a plane for work as my SPYJun10 116 puts were becoming very profitable. Like you, I rode through the last little bounce as the SPY still never broke above the 1170 to 1175 resistance. I entered this trade on May 11th for $3.55. As I was boarding the plane it was up around 70%, so I picked an exit price of $7.15 and placed a stop limit sell to close. I knew from your blog that the retracement levels indicated that the S&P could go as low as 1000, so I was confident there was still room to profit. When I landed my order had been filled and it was my first 100% return! Having the ability to monitor and execute trades using my phone is awesome! It's actually amazing if you think about it.

Then, yesterday the same thing happened again! I was boarding another plane as my SPYJun10 114 puts were doing very well. This put, I discovered came with a premium price tag because I opened the position on May 6th at 2:20 in the afternoon for $4.43. Obviously the options were expensive that day...

(side note- I closed SPY, AAPL, and FAZ puts on May 6th just shy of the flash crash for about a 60% return, which was also great! I definitely missed a boatload of profits by selling early, but who can argue with 70%????!!)

Anyway, as I was boarding yesterday, I was watching the SPY drop and picked an exit price of $7.75 on the puts I had initially purchased for $4.43 When I landed an hour later my order was filled!
Now, I'm happily in cash, and paper trading for a bit to learn more and see what happens next.

Over the last few months, it's been amazing to see how powerful these strategies are...to think that I can get generous returns on my investments whether the market is trending up or down...that's VERY powerful information!

As a beginner trader, I'm so grateful for the knowledge you have passed on to me so far in courses one and two. I feel that I'm learning a new skill that is going to open many doors for me in the future. BIG doors.

Have a great weekend Jerry!



Matt F.