I'm not usually a day trader, but I couldn't help myself when Trump and his team informed the public earlier this week that the President is going to make a speech to the American public on Wednesday at 9 pm ET.
Leading up to the speech, Marco Rubio released the following 2 min video:
His tone made me feel less than 100% confident in the administration's plan, so I decided to follow my gut and place an order to buy two put options on $QQQ at $575. In other words, I'd only make money if $QQQ traded below the strike price of $575; the stock closed April 1 at $584.31, which means it would have to dip 2% before I make any money.
Here's the Trump speech:
This morning, I saw that $QQQ was trading at or just below $585, so I immediately placed a market order to close my position. I pocketed nearly $400. It feels good to make money and even better following my gut. However, as Drunkenmiller has said, it doesn't matter that you're right: You need to be right AND have conviction (by putting up a big position). It's fine to lose (a little bit of) money and be wrong, but not that great if you're right and made only a few bucks.
Thankfully I sold in time (hey, making money is still making money) as $QQQ has since recovered from this morning's low:
