Advanced Micro Devices Inc (AMD)

[JLS]

Got back into AMD this morning.

Did a Buy/Write on AMD as $SPX was making a doji and holding it for quite a while, which is often a sign of a trend bottom (in terms of price, not specific day of reversal) but only after several days down (which I felt had already been met). Sorry about the twisted sentence, but I have a twisted mind so it makes perfect sense to me.

Typically you wouldn't trade the doji itself (as it's merely a signal that a reversal is near), but you would trade the stock Long on the next day IF price closed higher on that day (as that would be interpreted as confirmation as a signal of a trend reversal). In other words, the doji is the setup for a possible trade, but confirmation of the trade must happen on the following day.

But I think one can take liberties with that rule when trading a CC (as compared to just buying the stock) because the sale of the Calls offsets some of the risk of only buying stock.

Didn't have time to post it when completed because I had to rush off for a doctor's appointment. I fully expected to see $SPX end the day with a doji or close down. Really surprised that the markets closed higher!