Hello Steemian Traders,
Sorry this is late. For Friday there was nothing traded. However, this week was pretty good.
As always, any of this is fair game for questions and comments. This isn't advice, just what I decided to do and yes we could all loose our shirts or more.
Week Ending 06-OCT-2017
We took out 5 winners of the 50% of Max Profit variety. The DIA being less than a week. However, that IWM Short Call Vert is still ITM (In The Money) as a risk.
If I could find more higher volatility trades to put on, I'd probably cut my position size as well.
Current Positions
I'm trying to reformat to fit Steemit display better. Last week several columns were off the edge.
| Symbol | Exp | DTE | Name | Strikes | Size | Theta | Cost | NetLiq | P/L Open | O/R/C |
|---|---|---|---|---|---|---|---|---|---|---|
| DIA | Nov17 | 42 | -Put Vert | 214/219 | M | 0.40 | +0.66 | -0.33 | 0.00 | C |
| GLD | Nov17 | 42 | -Put Vert | 117/120 | S | 0.66 | +0.66 | -0.77 | -0.11 | |
| IWM | Nov17 | 42 | -Put Vert | 136/141 | M | 0.65 | +0.74 | -0.37 | 0.00 | C |
| Nov17 | 42 | -Put Vert | 141/146 | M | 0.68 | +0.75 | -0.71 | +0.04 | O | |
| Nov17 | 42 | -Call Vert | 147/150 | M | 0.01 | +0.73 | -2.00 | -1.27 | ||
| QQQ | Oct20 | 14 | -Put Vert | 137/142 | M | 1.45 | +0.82 | -0.41 | 0.00 | C |
| Nov17 | 42 | -Put Vert | 132/139 | M | 1.00 | +1.10 | -0.55 | 0.00 | C | |
| SPY | Nov17 | 42 | -Put Vert | 235/244 | M | 0.73 | +1.00 | -0.50 | 0.00 | C |
| VIX | Nov15 | 39 | +Call | 9.5 | S | -8.16 | -3.50 | +3.10 | -0.40 |
NOTE: Name starting +/- is Long or Short respectively. (Trying to save space)
Closed Positions
As you can see there are a lot of 50% closings. :) These are in order through the week.
QQQ Oct20 closed using the 50% of Max Profit for $41 per contract.
IWM Nov17 Short Put Vertical closed using the 50% of Max Profit for $37 per contract.
SPY Nov17 closed using the 50% of Max Profit for $37 per contract.
QQQ Nov17 closed using the 50% of Max Profit for $55 per contract.
DIA Nov17 closed using the 50% of Max Profit for $33 per contract.
NOTE1: No management necessary! When I put Short Verticals on, I immediately put on a GTC closing order for 50% of Max Profit.
NOTE2: The reason we write $41 per contract but the table shows Cost to NetLiq to be +0.41, is that all Options contracts are written on a 100 shares of the underlying stock or security. There for the 100x factor.
Rolled Positions
None. However, I'm still open to suggestions on the IWM Short Call Vertical. It seems like the only positions that have hurt me this year are bearish ones.
Opened Positions
To redeploy capital from IWM and hope to chip away at the negative in the potential roll above, I put on another IWM short put vertical.
Currently, that leaves more capital on the sideline than I'd like. However, I always remember an old Pilot's proverb:
It is always better to be on the ground wishing you were in the air,
than in the air wishing you were on the ground.
For the Coming Week
Obviously, I'll be looking for some new High Volatility positions to leverage. That will be especially true if we have a significant market pull-back. Not like the tiny amount on Friday. Otherwise, I might look to a few High Volume individual stocks or Smaller Sector ETFs.
Again, let me know what you've been up to and also, what you think about managing my IWM Short Call Vertical.