Jul 21 Trades Update

The US market pulled back significantly retreating from record highs last night. While most counters decline, ACH was holding up pretty well with a 0.87% upside still. I went ahead to sell Aug ACH 45(ITM) calls for $4.00 last night against the stocks which was bought for $46.21 on Wed(18 Jul) & that means a called return of 6%. Should ACH decide not to behave from now till Aug 17 & go south, I have a $4 buffer before I start losing money. Anything can happen in the market. Trading is about stacking the odds in one's favour & to have an exit strategy that you can stick by. Thats my motto. There will be losses but keep them small. Live to fight another day. Have a great weekend!