LTOptions at a 33% discount during the Year End Holidays.
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Friday, January 18, 2019

March SPX Elephant

Trade Details:

4 Mar SPX 2375/2385 Credit Put spread @0.60 credit each
2 Mar SPX 2830/2840 Credit Call spread @1.00 credit each

2 Mar SPY 284 Long Calls @0.56 debit each

Wednesday, January 16, 2019

Out of the Money Covered Calls (BXY) – outperforming CBOE’s BXM Buy Write Index

This article appeared first on

With the introduction of the BXM and PUT indexes by the CBOE in 2003, it became apparent to many investors that selling Options around equity positions could indeed become a smarter way to invest for better returns in the long run and less volatility. Based on the interest provoked by the launch of these indexes, it was only a matter of time before investors started inquiring about other potential approaches to options selling.

Monday, January 14, 2019

Analysis of the CBOE CNDR Index - an Iron Condors benchmark

The CBOE’s CNDR index is a benchmark that tracks the hypothetical performance of a monthly SPX Iron Condor with short options at ~20 deltas, and long options at ~5 deltas. No trade adjustments/defense of any sort.

Let's have a look at its historical performance, illustrated on the CBOE website at

Saturday, January 12, 2019

Credit Spreads on Indexes - the failure of 2018. Lessons and moving forward

2018 was a disastrous year for what I call LTOptions (Credit Spreads, Iron Condors, Elephants) at -45%. There is no other way to put it, and although there were many issues at the personal level that affected me deeply, I don’t like to be complaining and using excuses. Time is more effectively used looking at the problems objectively and defining the proper course of action going forward.

These were the main problems in 2018:

Thursday, January 10, 2019

Outperformance of a Put selling Strategy

This article appeared first on
One of the cons often mentioned about Put selling strategies is that you miss out on the larger gains that a stock rally would have provided.

It is true, that in the event of a strong rally (be it a stock or an index), holding shares directly lets you participate in potentially larger gains. However, not all stocks or indexes for that matter are constantly rallying. In many instances they face long periods of sideways back and forth, sometimes even years.
The S&P500 Put write index (symbol PUT) was created by the CBOE years ago and it aims to simulate a permanent Short Put strategy on the S&P500. Taken from the CBOE site:

Tuesday, January 8, 2019

February RUT Elephant

Trade Details:

4 Feb RUT 1240/1250 Credit Put spread @0.60 credit each
3 Feb RUT 1530/1540 Credit Call spread @0.95 credit each

6 Feb IWM 154 Long Calls @0.28 debit each

Saturday, January 5, 2019

Automated Forex Strategies - 2018 Results

The year was a success with positive returns across the board. Not as great as past years, but decent above average returns nonetheless that easily beat the benchmark. The Barclay's Currency Traders Index shows a +4.76% return among audited Forex Trading firms in 2018. That's the bench-mark I use for my FX Trading activity, which is all automated.