It’s been about a week and a half since we last updated you on the results from our Millionaire’s Trading Club live event in Las Vegas.
If you’ve been following our progress here, you know that we put on 25 trades during the three-day event, closing out nine of them and netting nearly $6,000 in cash before we hopped on planes to get back home.
When we followed up one week later, we had exited another six trades, bringing our total cash to $6,645.
Yesterday, we closed our 20th trade. Of those, 17 have been profitable, giving us an 85% win rate. And we’ve now accumulated nearly $7,500 in profits, including our losers.
What’s more, we effectively utilized leverage by trading spreads, averaging a 13.2% return per trade with an average holding time of less than one week. Not too shabby.
Of course, we still have some trades left on the books. A few of those – like the UnitedHealth Group (UNH) bear call spread — are going to require some position management. That’s not surprising given we had on a neutral-to-bearish trade on a Dow 30 stock when the index ripped more than 1,500 points higher in a single day following the election. Or 3M Company (MMM), which didn’t see the kind of post-earnings move we were hoping for to push our straddle to a profit.
It’s possible we may decide to take a loss or two on the remaining positions if we feel the capital can be put to better use elsewhere.
But our ProShares Bitcoin ETF (BITO) covered call position is sitting in a good spot. President-elect Donald Trump’s pro-crypto stance has helped to fuel a recovery in bitcoin, driving BITO higher. Plus, we just secured a $0.99 per-share dividend on Nov. 1. If our shares are called away at our $20.50 strike price on or before expiration on Nov. 22, we stand to make a profit of $1,470 on our 500 shares for a nearly 17% return on our capital.
This, along with the profits we’ve built up thus far, should help soften the blow if we decide to cut bait on any of the positions currently underwater. And we are still extremely likely to come out well ahead of the game overall. We’ll update you again here once the final results are tallied.
P.S. We’re also closing in on nearly $1,000 in profits from our first Millionaire’s Trading Club VIP Live Trading Session, which was held Oct. 30. And we’re looking forward to our next VIP event, which is scheduled for Dec. 11. Because with results like this, what happens in Vegas shouldn’t stay in Vegas.
