"The only way to trade with Fibonaccis" journal

whoa gap up outta nowhere!

Buy - 700 shares of SH @ $37.70.

 

what is the goal with this hedge? is it get money off of upcoming dividends?

 

6/7:

SPY: -$392
SH: $133
8 days until ex-dividend date

Net for this trade:
-----------------------------
-$259

 

It allows me to not reduce my SPY position so I get more dividends, and it helps protect from potential wash sales, and I can make some money if price goes back down before going up to my target SPY selling price.

I don't look at the addition of SH as an equivalent reduction in SPY position. I look at them as separate trades.

 

6/8:

SPY: $448
SH: -$84
7 days until ex-dividend date

Net for this trade:
-----------------------------
$364

 

Looks like a gap up out of nowhere in the futures market right now. Will be interesting to see where price goes tomorrow.

 

Gap up and then price came right back down to yesterday's close. Oh well!

 

6/11:

SPY: -$904
SH: $224
4 days until ex-dividend date

Net for this trade:
-----------------------------
-$680

 

going back up!

 

6/12:

SPY: $304
SH: -$49
3 days until ex-dividend date

Net for this trade:
-----------------------------
$255