February 2024 has been a good month for me thanks to the rapid rise of a few stocks such as Nvidia and Coinbase. The summary table of profit/ loss is as follows:
Crypto and AI chip makers have been the darlings of the stock market as EV stocks take the back seat.
Seasonality told us that somewhere between Jan and Feb, the market will undergo a correction. It nearly happened until Nvidia came out to save the day with its phenomenal earnings results. It rose from USD 600+ to its current all-time high price of USD918, all happening within a month,
When a stock is on an uptrend, the best strategy would buy a CALL option on it and that is exactly what I did in Feb to capture the gains.
The details of all my trades can be found here:
If you wish to be updated on my trades as they happen, you can follow me on my Patreon page, I usually update on the same day or latest by the following day.
Click here to access my Patreon Page
I have also grouped all my profitable trades in one collection (album) so it is easier for reference.
Options Trading Strategies For Feb 24
The strategies that I used for Feb 24 are the SOP Strategy, BULL CALL Spread Strategy, and buying OTM CALL options.
Further Read:
My Options Trading Strategy For 2023 | Introducing SOP Options Trading Strategy
How Does Bull CALL Spread Work? | CALL Debit Spread Explained For Newbies
Concluding Thoughts
The market is showing no signs of slowing down, which reminds me very much of 2021. So, enjoy the ride while it lasts, and always be prepared that the market may turn anytime. Losing money is a worse feeling than missing out on a good opportunity.
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