Teachable Moment, Updates & Watchlist!

SPCE, BYND, DKNG, SPY & more! [Click to view in browser](. Jul 16th 2020 Good afternoon, Teachable Moment: While I’m green on the day, this morning was a good reality check that from time to time, even the best traders out there will find themselves respecting a stop loss in full. The UPS July 24 125 Calls which I picked up yesterday at $0.59 opened about 25% lower, and I respected my 25% stop loss. Indeed it has been a while since I’ve needed to honor a stop in full, but those occasional full stop trades happen from time to time. Honoring stops can actually preserve quite a bit of capital if your winners are larger than and more consistent than losses. That’s a key to being a profitable trader, and I suggest you completely ignore anyone who pretends to just ‘not know’ what an occasional trading loss is. Hope you appreciate my honesty. Moving on... New Position: I mostly day-traded this morning, but I do have one open position as of right now and am watching a few others (which can be found in the watchlist below) Bought to open SPCE July 24 22 Calls at $1.08: I love trading this one. Momentum often gets behind it on top of getting call option sweeps, so when this one gets hot, the trades don’t typically take very long to trade in and out of. I’d like SPCE to continue to trade above $21.15, and I’ll close the trade if it trades below $21.15 which would be about breakeven. Triple-digit profit target on this one for me. Watchlist: BYND July 17 140 Calls: I detailed this earlier today. [Here’s the full scoop if you missed it](. BYND has seen increasing call option activity again today but has yet to really make a move. I suspect this is due to markets which are basically fairly flat trading just a little in the red. I’ll remain patient, but be ready to act on these if momentum presents itself. DKNG July 24 35 Calls: This is a sports betting stock with multiple call option sweeps on multiple call option contracts today. With the NBA rumored to start up soon, that would explain sentiment in this position. As we know, there’s a risk of that just being postponed, which makes this a high risk catalyst to buy into, so I’ll probably take a smaller size if I take it. If I buy into this trade I’ll keep a tight stop of a close below the 20-day simple moving average line (green line above) and a triple-digit profit target. If markets rollover to the downside, I’ll be watching a possible break of $319.20 support on SPY and look toward SPY Puts July 17 317 Puts for a day-trade. Stay green, Davis Martin America’s #1 Options Trader [@DavisMartin]( [@DavisMartin]( [_@DavisMartin88]( P.S. I’ve uploaded a couple new educational videos today. [Check them out here if you’d like to.]( Disclaimer: This is not investment advice. This newsletter is for information purposes only and opinion-based on financial advisor data across a selection of websites. Investors should be cautious about any and all investments and are advised to conduct their own due diligence prior to making any investment decisions. Copyright 2020, InvestingChannel, All Rights Reserved | [Privacy Policy](//investingchannel.com/policy) [InvestingChannel, Inc.]( P.O. Box 118 New York, NY 10018. To unsubscribe, [click here]( [Link](