Weekly Trade Updates - Week 33

Hi Steemians,

here is my weekly sample portfolio update.

New GLD Short Straddle in January

source:tastyworks

I sold this straddle on November the 20th, 2018 and collected $4.05 for this straddle.
My profit target, as always for short straddles, is 25% of max profit ($1.01).
At the moment this position is up 26 cents ($26 per one lot)

XLE December Straddle

source:tastyworks
I collected $3.79 for this straddle.
My profit target for this position after my defensive action last week is 95 cents
So I'm going to close this position when it trades for $2.84 or at 21 DTE.
At the moment this position is down $1.27 ($127 per one lot).

IWM December Short Straddle

source:tastyworks
I collected $7.63 for this straddle.
My profit target for this position after my defensive action last week is $1.92
So I'm going to close this position when it trades for $5.71 or at 21 DTE.
At the moment this position is down 1 cent ($1 per one lot).

Closing FXE Short Straddle in December

source:tastyworks

I collected $2.71 for this straddle.
My profit target, as always for short straddles, was 25% of max profit ($68).
On November 20th, 2018 I closed it for a debit of $2.03.
So a nice $68 winner per one lot.

New FXE Short Straddle in January

source:tastyworks

I sold this straddle on November the 20th, 2018 and collected $2.72 for this straddle.
My profit target, as always for short straddles, is 25% of max profit (68 cents).
At the moment this position is up 23 cents ($23 per one lot)

TLT December Straddle

source:tastyworks

I collected $3.02 for this straddle.
My profit target, as always for short straddles, is 25% of max profit (75 cents).
So I'm going to close this position when it trades for $2.27 or at 21 DTE.
At the moment this position is down 51 cents ($51 per one lot)

New Aggressive Short Delta Strangle in QQQ

source:tastyworks
The aggressive short delta strangle is a strategy I did not mention in my first book, but in my next book, which will be free for everyone, I wrote a whole chapter about it.
I collected $7.64 for this position and my profit target is $2.84, so I'm going to close this position when it trades for $4.80 or at 21 DTE.
You ask why?
Well, I'm going to tell you the right way to manage this type of strangle in my next book, which should be available for free within a week.


Next Friday we hit the 21 DTE threshold, so I will close/roll all of my remaining December positions next week.

Books Update

I finished my second book yesterday.

It is an addition to my first book and it will be free for everyone at least for the rest of 2018.
It contains several trade/management examples, introduces the aggressive short delta strangle and a unique new way on how to manage strangles/straddles with a dynamic profit target.
Stay tuned!

To fully understand my new book, you need to understand all the basics, which I describe in my first book:

It is still available at huge discount on Google Play, so buy as long as it is still cheap.
You can also buy it on iTunes, Amazon or Barnes and Nobel.

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.