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Saturday, November 30, 2013

Weekend Portfolio Analysis (November 30, 2013)

We had a pretty slow week as anticipated with Thanks Giving in the middle. SPX went from 1806.33 down to 1805.81. Almost unchanged which is great for options sellers as time decay does its work and positions are not threatened. We are now exactly 20 days away from December expiration and things are not looking bad at all in the model portfolio. But before that, let's take a look at the market internals.

Thursday, November 28, 2013

Importing a Custom McClellan Oscillator into the ThinkOrSwim platform

If you've been following my trading for a while, you know my style is all based on identifying extreme market conditions (overbought/oversold) and selling out of the money Credit Spreads against the prevailing trend at that point. There are hundreds of indicators to identify these conditions, but I like to follow three specific ones which are: Stochastics, McClellan Oscillator and the Number of stocks above their 20 and 50 Day Moving Average.

Saturday, November 23, 2013

Weekend Portfolio Analysis (November 23, 2013)

SPX went from 1798.82 to 1804.76 this week for a small +0.33% gain. And boy oh boy the market keeps defying gravity. It has all become slower and more boring with the light volumes we are seeing, which is only bound to continue in front of Thanks Giving weekend in the US.

January 2014 SPX Iron Condor

Yesterday (Friday, November 22) I entered the first position using 2014 options.

Wednesday, November 20, 2013

A website for finding out about trading services/newsletters

Today's article is about a website that I recently discovered but hadn't found the time to blog about. I'm talking about Pro-Trading-Profits. This site is useful for finding profitable trading newsletters out there, and even better: to know in advance whether a certain newsletter is profitable or not before you even decide to subscribe.

Saturday, November 16, 2013

Weekend Portfolio Analysis (November 16, 2013)

All three remaining November positions expired yesterday yielding full profit. November was a good trading month that resulted in a 4.41% portfolio growth after commissions improving the track record for the year (+8.97%). My goal is to finish above the 10% mark in what has been a very challenging 2013 for option premium sellers and despite some reckless trading that had me down -14.22% early this year. From that moment (February expiration) up until now (November expiration) the performance has been +27.03% (and that is total portfolio growth, and also after commissions). Pretty decent.

Thursday, November 14, 2013

December $SPX positions adjustments

Today was an active day for the Lazy Trader, you can see all my tweets today (November 14), whose screenshots I won't reflect here as they would take up to much space.

There was only one position in the portfolio for the December expiration cycle at the start of the day: SPX 1600/1605/1835/1840 Iron Condor. I decided to close the Call side (1835/1840) as I am seeing a very strong market that according to the parameters I follow IS NOT OVERBOUGHT. Meaning it has plenty of room to move up.

Saturday, November 9, 2013

Weekend Portfolio Analysis (November 9, 2013)

What a week folks! What a week! It is so nice to have some fun in a year that has been so slow moving (up most of the time), dull, uninteresting......In the end SPX opened at 1763.40 on Monday and closed at 1770.61. That's a +0.41% gain. The week started slow and boring as usual, then we had a nice down move on Thursday (Looks like the bearish divergence between price action and oscillators worked once again), and finally the rebound on Friday, to prove, yet once again, that this market is pretty strong (specially at this time of the year). 

Monday, November 4, 2013

Closing the Call side of the November 2013 $SPX Iron Condor

Today I closed the Call side of the SPX 1565/1570/1800/1805 November Iron Condor as the market is not at an extreme overbought condition anymore according to the parameters I follow and the 1800 short Call is barely 2% above current price.

Saturday, November 2, 2013

Weekend Portfolio Analysis (November 2, 2013)

SPX moved from 1759.42 to 1761.64 this week for a small +0.13% gain. So, the movements in the last two weeks have been +0.84% and +0.13%. Small/slow moves as I expected in my two most recent Weekend Portfolio Analysis articles due to the extreme overbought nature of the market.