This week, I lost $36.99 on the KLA $KLAC ( ▲ 7.32% ) policy that I sold on August 18.

I had to close it at a loss because I didn’t want to go through Broadcom’s $AVGO ( ▲ 0.21% ) earnings call on September 2.

I originally sold the policy for $138.01 on August 18, and I had to buy it back for $175 on September 2.

I made so many mistakes with this policy. The original cushion of 17.25% was too small, especially in this volatile environment. When I sold the policy to insure KLA at $160, the stock was $193.35. By the time I exited the deal two weeks later, KLA was at $172.35, and my cushion was only 7%.

I should have exited when I saw how fast the cushion went from 17.25% to under 10%. The move was fast. I had no business holding on. I was too stuck on the 50% profit and 14-21 days to expiration. I have to disregard that when I see my cushion evaporating quickly. Take whatever profit I can get and retreat.

I could have exited with a small profit of $21 on September 1, but I lost track of time. I tried to close the policy, but my bid was not high enough. I should have raised the bid so I could get out, but I didn’t realize it was close to 4 pm. The bell rang, my order expired, and the opportunity was gone. I had to wait until the next day.

Losing track of time cannot be the reason that I lose money. It just can’t. Too many losses. Too many unnecessary setbacks. This is crazy. How much have I lost so far?

$43.15 gone.

6 good policies. 3 negative ones. The 3 losses hit hard. Especially because they were unnecessary.

The Intel loss on February 20 was me being forced to exit before NVIDIA reported their earnings.

The SMCI loss on March 20 was the stock crashing after the co-founder was arrested. I never should have sold a policy against such a corrupt company. I knew the risk and I still foolishly went forward.

The KLA loss on September 2 was due to a weak deal structure and poor concentration.

I need to tighten up. I’m planning to do bigger policies, but I need to move like it’s point game.

Remember to pray for the youth of America and for God to send people who will guide them towards the truth of Jesus Christ.

“But how can they call on him to save them unless they believe in him? And how can they believe in him if they have never heard about him? And how can they hear about him unless someone tells them? And how will anyone go and tell them without being sent? That is why the Scriptures say, “How beautiful are the feet of messengers who bring good news!”
Romans 10:14-15 NLT

James: Word for Word Gospel Music is all 5 chapters of the Book of James sung word for word to classic gospel music.

Visit Making It Straight to listen to the James album, watch films based on the Bible, and purchase resources for evangelism.