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Saturday, August 19, 2017

Weekend Portfolio Analysis (August 19, 2017)

This week's analysis has been published at LTOptions.com

Download Weekend Portfolio Analysis (2017-08-19).pdf

If the above link doesn't work for you, simply log in to LTOptions.com, navigate to the "Weekly Analysis" tab and download the document from there.

The Weekend Portfolio Analysis will be available on this site next week for historical reference.

All currently open positions can be seen on the Track Record page


Last Weekend Analysis now publicly available: Weekend Portfolio Analysis (August 13, 2017) 
Recent Trading Activity

- August RUT Unbalanced Elephant expired for max profit of +$1,418 on Friday.

- Closed Put side of September RUT Unbalanced Elephant at a loss on Friday. The loss was partially hedged by gains from the long IWM Puts. Net-net it was a $2,748 loss.

- A new 1250/1240 Credit Put spread was deployed in the same RUT as an adjustment, using the same September expiration cycle. Credit Collected: $1,200.

- Closed Credit Call spread of September RUT Unbalanced Elephant for a +$570 gain. Left the IWM Long Calls in. Closing the IWM long Calls would not have made sense as they are almost worthless. Whatever value is left to save (0.01) would be eaten by commissions).

- Purchased December SPY 253 strike price Calls. Small speculative play betting on a rebound. Four months for this play to work. It's a low probability move sure, but it can bring juicy returns if the market rallies before year end.

It was a somewhat unfortunate week with that first loss on Elephant positions. It was a good run of 12 consecutive Elephant winners (4 last year and 8 this year). All the activity was concentrated on Friday. The first half of the week was navigated without damages and I thought that would be it. Then Thursday surprised with more weakness and then some more on Friday morning. Despite the loss on the September Elephant, the other two wins mitigated the damage and overall the portfolio lost only $760 for the week (before commissions), less than 1% of the portfolio. More importantly, current positions look safe and that should be enough to eventually recover from this small setback.

Friday, August 18, 2017

Long December SPY Calls

Sunday, August 13, 2017

Weekend Portfolio Analysis (August 13, 2017)

This week's analysis has been published at LTOptions.com

Download Weekend Portfolio Analysis (2017-08-13).pdf

If the above link doesn't work for you, simply log in to LTOptions.com, navigate to the "Weekly Analysis" tab and download the document from there.

The Weekend Portfolio Analysis will be available on this site next week for historical reference.

All currently open positions can be seen on the Track Record page


Last Weekend Analysis now publicly available: Weekend Portfolio Analysis (August 5, 2017) 
Recent Trading Activity

- Initiated a September RUT Unbalanced Elephant for a total credit of $1,393 on Tuesday. Not great timing as the Russell reached an oversold condition just a few hours later.

- Initiated an October RUT Credit Put spread position for $1,200 credit on Thursday after the market reached the first oversold condition of the year. I didn't mention this idea during the Weekend Analysis because we've been conditioned to not expect oversold environments for so long. But, basically, every time there is an oversold extreme, I will initiate a Credit Put spread.

- Closed SPX 2550/2560 Credit Call spread side of the September Unbalanced Iron Condor for a $350 profit on Friday. This was the result of a GTC (Good Till Canceled order) I had for 0.10 debit per spread. It got triggered while I was away from the PC.

Thursday, August 10, 2017

October 2017 RUT Credit Put Spread

Trade Details:

SELL 20 October RUT 1200 Put @7.20
BUY 20 October RUT 1190 Put @6.60

Net Credit: 0.60 ($1,200)
Days to Expiration: 70

Tuesday, August 8, 2017

September 2017 RUT Unbalanced Elephant

Trade Details:

20 RUT 1320/1310 Credit Put spreads 0.60 Credit ($1200)
15 RUT 1475/1480 Credit Call spreads 0.45 Credit ($675)

plus

2/20 IWM Unbalanced Long Strangle. Strike prices 133/148
0.61 debit for each of the 133 strike Puts
0.18 debit for each of the 148 strike Calls.
Total debit paid: $482

Net Credit: $1393
Days to Expiration: 38

A little later than usual. Probably the narrowest of all Elephants I've ever played.
Elephants remain unbeaten (11 for 11) since inception (4 trades last year and 7 trades closed this year so far)

Saturday, August 5, 2017

Weekend Portfolio Analysis (August 5, 2017)

This week's analysis has been published at LTOptions.com

Download Weekend Portfolio Analysis (2017-08-05).pdf

If the above link doesn't work for you, simply log in to LTOptions.com, navigate to the "Weekly Analysis" tab and download the document from there.

The Weekend Portfolio Analysis will be available on this site next week for historical reference.

All currently open positions can be seen on the Track Record page


Last Weekend Analysis now publicly available: Weekend Portfolio Analysis (July 29, 2017) 
Recent Trading Activity

- Closed the August SPX Unbalanced Iron Condor on Wednesday for a $1,225 gain.

Thursday, August 3, 2017

Options Trading Monthly Digest (July, 2017)

Time to reflect Options trading results for the month of July. This update includes positions that were closed throughout the month and the Year To Date balances of each Options Trading Strategy.

Hopefully these monthly updates will provide readers with confidence and serve as an authentic guide of what can be achieved with a realistic and sustainable approach to the business of Selling Options.