Dear trading community,
Here is a look at my sample portfolio for Friday, October 25th, 2019.
Since we hit the 21 DTE threshold on Friday, I had a lot of rolling and closing/reestablishing to do this week.
On Tuesday, September 24th, 2019, I sold this position for a credit of $4.22.
This time only half the size, since IVR was low.
On Wednesday, October 2nd, 2019, I had to roll down my call for a credit of $3.55, since my short put got hit.
My overall credit for this position was now $7.77.
On Thursday, October 24th, 2019, I closed it for a profit of 12 cents ($12 per one lot).
On Friday, October 25th, 2019, I sold this position for a credit of $3.75. Only half of my normal size since IV is so low.
My profit target for this position is $1.60, so I'm going to close it, when it trades for $2.15 or at 21 DTE.
At the moment this position is up 12 cents ($12 per one lot).
On Friday, August 23rd, 2019, I sold this call for a credit of $4.53.
On Thursday, September 26th, 2019, I rolled it up to the 147 strike and out to November for a credit of 69 cents.
On Friday, October 25th, 2019, I rolled it up to the 148 strike and out to December expiration and also added a short 148 put to reduce my short deltas.
My overall credit for this position is now $7.25.
No specific profit target, since this is all in defense mode.
At the moment this position is down $3.30 ($330 per one lot).
On Friday, September 27th, 2019, I sold this position for a credit of $2.87.
On Monday, October 21st, 2019, I closed it for a profit of 59 cents ($59 per one lot), since my short put got hit.
On Friday, October 25th, 2019, I sold this position for a credit of $3.02.
My profit target for this position is $1.28, so I'm going to close it, when it trades for $1.74 or at 21 DTE.
At the moment this position is up 60 cents ($60 per one lot).
Rolling time also on this position. Up and out for a credit of $2.43.
My synthetic basis on the covered put is now$184.49, I have collected enough in credit in this position to have the chance to be profitable.
We'll see how and if this will work out.
On Monday, September 23rd, 2019, I sold this position for a credit of $3.25.
On Wednesday, October 2nd 2019, I had to roll down my call for a credit of $1.71, since my short put got hit.
My overall credit for this position is was $4.96.
On Thuesday, October 22nd, 2019, I closed it for a profit of $1.33 ($133 per one lot)
On Thuesday, October 22nd, 2019, I sold this position for a credit of $2.46.
My profit target for this position is $1.23, so I'm going to close it, when it trades for $1.23 or at 21 DTE.
At the moment this position is up 11 cents ($11 per one lot).
On Wednesday, October 16th 2019, I sold this position for a credit of $2.34.
My profit target for this position is $1.14, so I'm going to close it, when it trades for $1.20 or at 21 DTE.
At the moment this position is up 76 cents ($76 per one lot).
On Friday, October 25th, 2019, I sold this position for a credit of $1.71 only half my normal size, since IV is so low.
My profit target for this position is 71 cents, so I'm going to close it, when it trades for $1 or at 21 DTE.
At the moment this position is up 7 cents ($7 per one lot).
The VIX is super low at the moment, so a delta neutral horizontal spread with long vega is the right strategy for this environment.
On Thursday, October 24th, 2019, I bought this position for a debit of $2.35, but this is not my max loss, since there comes an additional $2 in margin requirement, so my max loss on this position is $4.35.
My profit target for this position is the price of the imbedded put spread at trade inception (= 63 cents).
So, I'm going to close this position, when I can sell it for 2.98 or when the front-month short put expires.
At the moment this position is up 5 cents ($5 per one lot).
More on this strategy in my 3rd book (link below).
With the completion of my latest book, I have now a trilogy.
The first book is still available for a huge discount on Google Play, so buy as long as it is still cheap.
You can also buy it for $19.99 on iTunes, Amazon or Barnes and Nobel.
Thanks to all my readers for buying it.
If you like it, you would do me a great favor by writing a short review on amazon.
My second book is available for $5.99 on Amazon, Google and on Apple.
Thanks to all my readers for buying it.
If you like it, you would do me a great favor by writing a short review on amazon.
My third book is available on Amazon, Google and iTunes.
Have a great weekend,
Stephan Haller
Legal disclaimer: These are not trade recommendations. Options involve risk and are not suitable for all investors. The trades shown above are for educational purpose only.
