A loser day and the forced trade

Today the market opened on unusually low volume and we, as a group, almost decided not to trade at all as nothing looked good. John suggested an AAPL trade and we got in and out for a decent single trade profit, 34 cents.

Then we all decided that was it for the day, finish way early and take a break...then John decided that a play in X might work out. Well, we forced the trade that really was not there and the market makers were rigging the price. The low of day stock price was $65.01 and the option was in the 1.70's. Later it hit $65 again and the option price was lower again, it normally wouldn't be as this is a very liquid stock and a very liquid option chain, the spread was a penny or two. It made for easy entry and exit as a market order was the cleanest method but that does not make up for some funky business in the option pricing.

I was down for the day around $220, which has not happened often at all. My daily average is now likely in the $30's. Monday will be the start of a new week and my TFSA account is still up overall so I cannot complain too loudly... after all it is only week one of the TFSA plan. Lots of time to work things out.

Jeff.