But this is not "LT's epic programming". This is not "LT's admirable work ethic". This. This is about the addiction folks. So, let's get to it, shall we?
- No trading. Just being a nerd.
(Click on image to enlarge)
McClellan: +50 (neutral)
Stocks above their 20 DMA: 73% (overbought)
No man's land.
May31 SPX 2125/2150 Credit Call Spread
SPX 2150 Long Calls & 1885/1890 Credit Put spread boundaries are 1910 and 2110. If neither of those values is reached, this position will stay in the portfolio until about the first week of May, where I project to close it all for break-even.
June30 SPX 2150/2175 Credit Call Spread
Some heat, closing the week at 26 deltas. Adjustment point for the week estimated at around 2,095. Adjustment candidate is 2225/2250 using full size.
July29 SPX 1650/1675/2200/2225 Unbalanced Iron Condor
No concerns for this week.
July SPY Long 169 Puts
Action Plan for the Week
- If SPX rallies to about 2,095, defend the June30 SPX 2150/2175. I will take a loss and will deploy a new CCS with twice the number of contracts, using 2225/2250.
- If SPX rallies beyond 2,110, close all the May31 SPX options for a loss and deploy a May31 Credit Call spread above 2,200.
- Sell June30 RUT Credit Put spreads if we reach an oversold extreme condition, a 4% or so from current levels.
- Cash gains on long SPY July Puts on an 80%-100% ROI shall the markets fall significantly.
- Close all May31 SPX Positions for a loss if SPX reaches 1,910. In this case I would be simultaneously cashing gains from June Credit Call spreads, July Credit Call spreads and July SPY Long Puts. After closing all this, I would also deploy a new SPX Credit Put spread in the 1600's. I think this scenario of SPX reaching 1,910 is unlikely for this upcoming week.
The long EURUSD position was finally closed by the LT Trend Sniper robot. There haven't been homeruns in a while. It was finally a small 0.75% loss, and 39.4 pips. With both Gold and the Euro retracing it looks like there won't be new entries in a while.
So far, we've made 4 trades in 2016. Two winners and two losers and the Forex portfolio is up +1.33%.
Monday: A bunch of FOMC members speak.
Tuesday: Building Permits. Housing Starts. German ZEW Economic Sentiment.
Wednesday: Existing Home Sales, Crude Oil Inventories.
Thursday: European Central Bank press conference. Philly Fed Index.
Friday: Europe Services and Manufacturing PMI. US Manufacturing PMI.
Very, very challenging year so far, but we are hanging there. No major set back or anything like that and the year is still young.
Options Trading results - With closed positions and trading costs included, we are down 0.39% for 2016. The S&P is up 1.80%. The portfolio is currently 38% invested, 62% in cash.
Forex Trading results - Up +1.33% for the year. Four closed trades in total so far: 1 win, 1 loss in EURUSD and 1 win, 1 loss in XAUUSD. No position at the moment.
Good luck this week my friends!
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Check out 2016 Track Record