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Thursday, October 19, 2017

December SPX Unbalanced Iron Condor

Trade Details:

20 December SPX 2400/2390 Credit Put spreads  @0.50 Credit ($1000)
10 December SPX 2635/2640 Credit Call spreads @0.50 Credit ($500)

Net Credit: $1,500
Days to Expiration: 57

Saturday, October 14, 2017

Weekend Portfolio Analysis (October 14, 2017)

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

Download Weekend Portfolio Analysis (2017-10-14).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The Weekend Portfolio Analysis will be available on this site next week for historical reference.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 (October 8, 2017) 
Recent Trading Activity

- Closed November SPX 2575/2585 Call side of Unbalanced Iron Condor on Tuesday. A $1,125 loss.

Wednesday, October 11, 2017

Some House Cleaning

When I started to track the results of Option trades on this site, I did so by reflecting each position according to their Expiration cycle, not based on when the position was closed.

Sunday, October 8, 2017

Weekend Portfolio Analysis (October 8, 2017)

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

Download Weekend Portfolio Analysis (2017-10-8).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The Weekend Portfolio Analysis will be available on this site next week for historical reference.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 (September 30, 2017) 
Recent Trading Activity

- Initiated a November RUT Unbalanced Iron Condor position on Tuesday for a net credit of $1,555. As explained in the previous weekend analysis, under the current circumstances, the Unbalanced IC seemed more advantageous than the typical Elephant I usually deploy as the second income position of a month.

- Initiated a small November SPX 2425/2420 Credit Put spread on Thursday. New credit collected of $250. The idea is to mitigate potential losses on the Call side of the November SPX Unbalanced Iron Condor.

Last week I also mentioned the possibility of adding either an October RUT or SPX Credit Call spread to complete Unbalanced Iron Condor with existing October Put spreads but the credits were terrible and not at all attractive. The markets did not reach an overbought extreme either, which decreased my confidence in deploying such spreads.

Tuesday, October 3, 2017

November RUT Unbalanced Iron Condor

As explained over the weekend, going with an Unbalanced Iron Condor instead of an Unbalanced Elephant this time with RUT
 
Trade Details:

20 November RUT 1390/1380 Credit Put spreads  0.53 Credit ($1060)
5   November RUT 1580/1590 Credit Call spreads 0.99 Credit ($495)

Net Credit: $1,555
Days to Expiration: 44

Monday, October 2, 2017

Options Trading Monthly Digest (September, 2017)

Time to reflect Options trading results for the month of September. 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.

Saturday, September 30, 2017

Weekend Portfolio Analysis (September 30, 2017)

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

Download Weekend Portfolio Analysis (2017-09-30).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 (September 23, 2017) 
Recent Trading Activity

- Closed Call side of October RUT/IWM Unbalanced Elephant on Monday at a $400 loss. The Put side is still in play and should yield maximum profit, turning this Elephant into a small winner in the end.

Saturday, September 23, 2017

Weekend Portfolio Analysis (September 23, 2017)

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

Download Weekend Portfolio Analysis (2017-09-23).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 (September 16, 2017) 
Recent Trading Activity

- Closed 2540/2545 Call side of October SPX Unbalanced Iron Condor for a $440 loss on Monday.

- Closed December SPY 253 Long Calls for a $462 gain on Monday.

- Initiated a 2315/2325/2575/2585 November SPX Unbalanced Iron Condor for a $1,500 credit on Thursday.

Thursday, September 21, 2017

November SPX Unbalanced Iron Condor

Trade Details:

20 November SPX 2325/2315 Credit Put spreads  0.50 Credit ($1000)
5   November SPX 2575/2585 Credit Call spreads 1.00 Credit ($500)

Net Credit: $1,500
Days to Expiration: 57

Saturday, September 16, 2017

Weekend Portfolio Analysis (September 16, 2017)

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

Download Weekend Portfolio Analysis (2017-09-16).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 (September 9, 2017) 
Recent Trading Activity

- The remainder of the September RUT Elephant reached expiration on Friday for a net $840 gain.

Saturday, September 9, 2017

Weekend Portfolio Analysis (September 9, 2017)

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

Download Weekend Portfolio Analysis (2017-09-09).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 (September 2, 2017) 
Recent Trading Activity

- Initiated an October RUT 1270/1280/1470/1480/130/148 Unbalanced Elephant for a $1,317 credit on Thursday.

Thursday, September 7, 2017

October 2017 RUT Unbalanced Elephant

Trade Details:

20 RUT 1280/1270 Credit Put spreads 0.55 Credit ($1100)
 7  RUT 1470/1480 Credit Call spreads 0.95 Credit ($665)

plus

2/50 IWM Unbalanced Long Strangle. Strike prices 130/148
0.74 debit for each of the 130 strike Puts
0.06 debit for each of the 148 strike Calls.
Total debit paid: $448

Net Credit: $1317
Days to Expiration: 43

Saturday, September 2, 2017

Weekend Portfolio Analysis (September 2, 2017)

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

Download Weekend Portfolio Analysis (2017-09-02).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 26, 2017) 
Recent Trading Activity

- Closed October RUT 1200/1190 Credit Put spread for a $500 gain on Monday.

- Closed September SPX 2310/2300 Credit Put spread for a $900 gain on Thursday.

Friday, September 1, 2017

Options Trading Monthly Digest (August, 2017)

Time to reflect Options trading results for the month of August. 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.

Saturday, August 26, 2017

Weekend Portfolio Analysis (August 26, 2017)

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

Download Weekend Portfolio Analysis (2017-08-26).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 19, 2017) 
Recent Trading Activity

- Initiated an SPX - October 2250/2260/2540/2545 Unbalanced Iron Condor on Friday for a total credit of $1,500.

Friday, August 25, 2017

October 2017 SPX Unbalanced Iron Condor

Trade Details:

20 October SPX 2260/2250 Credit Put spreads  0.55 Credit ($1100)
8   October SPX 2540/2545 Credit Call spreads 0.50 Credit ($400)

Net Credit: $1,500
Days to Expiration: 56

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.

Saturday, July 29, 2017

Weekend Portfolio Analysis (July 29, 2017)

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

Download Weekend Portfolio Analysis (2017-07-29).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 22, 2017) 
Recent Trading Activity

- No Activity

Friday, July 21, 2017

Weekend Portfolio Analysis (July 22, 2017)

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

Download Weekend Portfolio Analysis (2017-07-22).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 15, 2017) 
Recent Trading Activity

- Initiated a September SPX Unbalanced Iron Condor position on Thursday. Net Credit $1,500. All the details here. Just a 4:1 ratio of Puts to Call as the upside is within the long-term uptrend channel.

- The July RUT Unbalanced Lazy Elephant expired for max profits: $1,417.

Thursday, July 20, 2017

September 2017 SPX Unbalanced Iron Condor

Trade Details:

20 September SPX 2310/2300 Credit Put spreads  0.55 Credit ($1100)
5   September SPX 2550/2560 Credit Call spreads 0.80 Credit ($400)

Net Credit: $1,500
Days to Expiration: 57

Saturday, July 15, 2017

Weekend Portfolio Analysis (July 15, 2017)

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

Download Weekend Portfolio Analysis (2017-07-15).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 8, 2017) 
Recent Trading Activity

- No Activity

Saturday, July 8, 2017

Weekend Portfolio Analysis (July 8, 2017)

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

Download Weekend Portfolio Analysis (2017-07-08).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 1, 2017) 
Recent Trading Activity

- Closed the July SPX 2260/2250 Credit Put spread (remainder of an Unbalanced Iron Condor) on Monday for a $1,000 profit.

- Initiated an August RUT Unbalanced Lazy Elephant on Friday for a net credit of $1,418.

Friday, July 7, 2017

August 2017 RUT Unbalanced Elephant

Trade Details:

20 RUT 1300/1290 Credit Put spreads 0.60 Credit ($1200)
  9 RUT 1490/1500 Credit Call spreads 0.80 Credit ($720)

plus

2/25 IWM Unbalanced Long Strangle. Strike prices 132/150
0.76 debit for each of the 132 strike Puts
0.14 debit for each of the 150 strike Calls.
Total debit paid: $502 )

Net Credit: $1418
Days to Expiration: 42

VIX at 11.60 and the heart of the summer. This is going to be an interesting trade.

Thursday, July 6, 2017

Options Trading Monthly Digest (June, 2017)

Time to reflect Options trading results for the month of June. 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.

Saturday, July 1, 2017

Weekend Portfolio Analysis (July 1, 2017)

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

Download Weekend Portfolio Analysis (2017-07-01).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 available: Weekend Portfolio Analysis (June 24, 2017) 
Recent Trading Activity

- Closed the Call side of the July SPX 2250/2260/2490/2500 Unbalanced Iron Condor on Thursday for a small $140 gain. It was more of a risk management move than a profit taking one. The Call side of this position made me uncomfortable for a while and as planned over the weekend, I would close it provided a positive monetary balanced could be extracted out of it. Looking now at the fact that we will almost have 4 full days of time decay (Saturday + Sunday + Monday with markets open only for half a session and then Tuesday with markets closed for Independence Day). I should have considered leaving the whole position on and then re-assessing on Wednesday morning, with much more premium in my favor. So, that could have been a small mistake there, but on the other hand I feel comfortable now to have put this behind. The SPY 249 strike Call options that had been purchased as upside hedge were also taken off the table.

Saturday, June 24, 2017

Weekend Portfolio Analysis (June 24, 2017)

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

Download Weekend Portfolio Analysis (2017-06-24).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 available: Weekend Portfolio Analysis (June 17, 2017) 
Recent Trading Activity

- Initiated an August SPX 2260/2270/2520/2530 Unbalanced Iron Condor on Thursday. Net Credit $1,500. The reason for the small total credit is that the position was initiated with only a 4 to 1 ratio of Put spreads to Call spreads. The adjustment point on the Call side for this position, initially would have been SPX 2,480. That number, as you know, moves up over time. But initially, that is roughly the SPX spot at which the short 2520 Calls would be reaching 30 deltas and triggering my adjustment decision. Well, SPX 2,480 happens to be uncomfortably close to the SPX 2,475 that I have established as the defense line for the July SPX Unbalanced Iron Condor. By playing a 4:1 ratio with the August position, the Call side adjustment can be delayed much further (~45 deltas, instead of 30). Up to around SPX 2,515. This provides us with better risk diversification across the spectrum of SPX prices.

Thursday, June 22, 2017

August 2017 SPX Unbalanced Iron Condor

Trade Details:

20 SPX 2270/2260 Credit Put spreads  0.55 Credit ($1100)
5   SPX 2520/2530 Credit Call spreads 0.80 Credit ($400)

Net Credit: $1,500
Days to Expiration: 57

Saturday, June 17, 2017

Weekend Portfolio Analysis (June 17, 2017)

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

Download Weekend Portfolio Analysis (2017-06-17).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 available: Weekend Portfolio Analysis (June 10, 2017) 
Recent Trading Activity

- Credit Put spreads (2250/2240) side of June SPX Unbalanced Iron Condor expired for max profit (+$1,140). Long SPY Put hedge expired worthless (-$98). Net-net it was a $1,042 profit. The June SPX Unbalanced Iron Condor is now entirely gone.

Saturday, June 10, 2017

Weekend Portfolio Analysis (June 10, 2017)

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

Download Weekend Portfolio Analysis (2017-06-10).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 available: Weekend Portfolio Analysis (June 3, 2017) 
Recent Trading Activity

- Purchased July SPX 249 Calls as upside hedge for existing July SPX Unbalanced Iron Condor on Tuesday. A debit was invested here that eats into the overall profitability of the Unbalanced IC, but only partially. There is still money to make here and the upside hedge allows me to sleep better at night. More on this position in a few minutes.

- Initiated a July RUT Unbalanced Lazy Elephant on Friday for a net credit of $1,417. This is the second position deployed in the July cycle, and last one unless we get an oversold condition.

Friday, June 9, 2017

July 2017 RUT Unbalanced Elephant

Trade Details:

20 RUT 1310/1320 Credit Put spreads 0.60 Credit ($1200)
8 RUT 1500/1510 Credit Call spreads 0.90 Credit ($720)

plus

2/19 IWM 134/151 Unbalanced Long Strangle (.71 debit for the 134 strike Puts, .19 debit for the 151 strike Calls. Total debit paid: $503 )

Net Credit: $1417
Days to Expiration: 42

VIX at 9.50. This is going to be an interesting trade.

Wednesday, June 7, 2017

Options Trading Monthly Digest (May, 2017)

Time to reflect Options trading results for the month of May. 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.

Saturday, June 3, 2017

Weekend Portfolio Analysis (June 3, 2017)

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

Download Weekend Portfolio Analysis (2017-06-03).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 available: Weekend Portfolio Analysis (May 27, 2017) 
Recent Trading Activity

- Closed the 2465/2475 Call side of the June SPX Unbalanced Iron Condor for a small $180 gain on Monday. As planned over the weekend, this was a spread that needed to be closed simply due to risk concentration in the portfolio. It proved to be the right move.

Saturday, May 27, 2017

Weekend Portfolio Analysis (May 27, 2017)

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

Download Weekend Portfolio Analysis (2017-05-27).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 available: Weekend Portfolio Analysis (May 20, 2017) 
Recent Trading Activity

- Closed Put side of June RUT Elephant for a $954 gain on Friday. The entire June RUT Elephant is now closed. The idea of closing this one was not mentioned in the previous Weekend Portfolio Analysis. I just decided to reduce downside exposure (as crazy as it sounds nowadays) and readers still have a long weekend in the middle. If anything, by the time the markets open on Tuesday it should be even easier to get filled at perhaps better debits that what I paid given the extra days of time decay. Otherwise, holding this one to expiration should not be a big deal as it looks far (RUT 1230).

- Initiated a July SPX Unbalanced Iron Condor position on Friday for a net $2,150 credit. First position in the July regular expiration cycle.

Friday, May 26, 2017

July 2017 SPX Unbalanced Iron Condor

Trade Details:

20 SPX 2260/2250 Credit Put spreads  0.60 Credit ($1200)
10 SPX 2490/2500 Credit Call spreads 0.95 Credit ($950)

Net Credit: $2,150
Days to Expiration: 56

Saturday, May 20, 2017

Weekend Portfolio Analysis (May 20, 2017)

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

Download Weekend Portfolio Analysis (2017-05-20).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 available: Weekend Portfolio Analysis (May 13, 2017) 
Recent Trading Activity

- Put side of May RUT Elephant expired for max profit of $1,092

- Tried to close the 2465/2475 Call side of the June SPX Unbalanced Iron Condor, but didn't get filled. I tried 0.10 debit, then 0.15 then 0.20 as the market kept rebounding until I stopped trying on Friday.

Saturday, May 13, 2017

Weekend Portfolio Analysis (May 13, 2017)

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

Download Weekend Portfolio Analysis (2017-05-13).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 available: Weekend Portfolio Analysis (May 6, 2017) 
Recent Trading Activity

- Closed Call side of June RUT/IWM Lazy Elephant on Monday for tiny gains $73. The idea was, or is, to be able to deploy at higher strike prices given the early heat I took in this position and the fact that for so long the market has been bought on every little dip. Now, of course that is not being mechanical, and in retrospective it looks like it was not the right choice. We won't always make the right ones, but being fairly risk averse and choosing defense over offense on the Call side is never a terribly bad decision.

Saturday, May 6, 2017

Weekend Portfolio Analysis (May 6, 2017)

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

Download Weekend Portfolio Analysis (2017-05-06).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 available: Weekend Portfolio Analysis (April 29, 2017) 
Recent Trading Activity

- Closed SPX/SPY - May 2150/2160/2440/2450/221/245 Unbalanced Elephant for a $1,090 gain. The Put side looked safe enough and could have been left on, but I just decided to reduce quadruple downside exposure in the portfolio that came with the addition of a new June position.

- Initiated SPX - Jun 2240/2250/2465/2475 Unbalanced Iron Condor. Very conservative on the Call side, using a 4 to 1 ratio of Puts to Calls. Given how low volatility is, adjustment points feel close and would be very uncomfortable to defend. Net Credit only $1,447 but I definitely prefer this very conservative Call side.

Thursday, May 4, 2017

June 2017 SPX Unbalanced Iron Condor

Trade Details:

20 SPX 2250/2240 Credit Put spreads  0.57 Credit ($1140)
5   SPX 2465/2475 Credit Call spreads 0.81 Credit ($405)

Due to the sub 11 VIX, I also added a small long SPY Put

1 SPY 228 Put 0.98 debit ($98)

Net Credit: $1,447
Days to Expiration: 43

Very conservative on the Call side because everything is so close with the low volatility levels, that, well, I don't want to have to lament anything, especially if the market suddenly breaks out.

Options Trading Monthly Digest (April 2017)

Time to reflect Options trading results for the month of April. 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.

Saturday, April 29, 2017

Weekend Portfolio Analysis (April 29, 2017)

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

Download Weekend Portfolio Analysis (2017-04-29).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 available: Weekend Portfolio Analysis (April 22, 2017) 
Recent Trading Activity

- Closed Call side of May RUT Elephant at a $716 loss on Tuesday. A bit frustrating yes, but the Put side is still in play and now at only 2 deltas and with a credit that is greater than this initial loss from the Call side. So, in the end the position will be a winner overall, just a smaller one than we would have liked.

Saturday, April 22, 2017

Weekend Portfolio Anaysis (April 22, 2017)

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

Download Weekend Portfolio Analysis (2017-04-22).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 available: Weekend Portfolio Analysis (April 15, 2017) 
Recent Trading Activity

- April SPX Credit Put spread expires for max gain of $960. This was part of an Iron Condor whose Call side had been closed a while ago. The entire history of the Iron Condor position is here.

- April RUT Unbalanced Lazy Elephant expires for max profit of $1,396. We never had any trouble with this position.

- Initiated a June RUT Unbalanced Lazy Elephant. As explained in the previous Weekend Analysis, I would go with Elephant instead of Condor if the indexes were not more than 1% higher than their 50-day average.

Friday, April 21, 2017

June 2017 RUT Unbalanced Elephant

Trade Details:

20 RUT 1220/1230 Credit Put spreads 0.66 Credit ($1320)
8 RUT 1470/1480 Credit Call spreads 0.92 Credit ($736)

plus

2/15 IWM 126/148 Unbalanced Long Strangle (.95 debit for the 126 strike Puts, .24 debit for the 148 strike Calls. Total debit paid: $550 )

Net Credit: $1506
Days to Expiration: 56

Saturday, April 15, 2017

Weekend Portfolio Analysis (April 15, 2017)

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

Download Weekend Portfolio Analysis (2017-04-15).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 available: Weekend Portfolio Analysis (April 8, 2017) 
Recent Trading Activity

- No Activity. I tried to close the April RUT Unbalanced Elephant on Wednesday and Thursday but my closing orders never got filled. Knowing the low odds of being filled on the Call side, I decided to just try to close the Credit Put spread on Thursday, with the intent of leaving the Call side untouched as it is not a concern at all. So, I tried the Credit Put spread at 0.10 debit, no luck. Then 0.15 debit, nop. Nothing. I didn't want to sacrifice any more premium than that. I would have probably gotten filled had I tried 0.20 debit, but then I remembered we had a three-day weekend right ahead of us to strengthen the position even more via time decay and I decided to not rush it.

Tuesday, April 11, 2017

How has your trading style changed? Is there still potential for a +30% year?

I'm looking at your results in the previous years and am amazed by the impressive results in 2012, especially compared to those in later years. In terms of SP500, 2012 is also a good year, but isn't the best year (2013 has a significantly higher return). I'm curious to know how your strategies have changed from 2012 to today. Is it that you took on more risks in 2012 by committing more percentage of capital and/or staying closer to the money? Or is it just that the market condition was quite special in 2012 compared to other years (for example, no sudden rally or sell-off)? Or maybe something else? Basically, are the results from 2012 possible to replicate? - Jordan


Saturday, April 8, 2017

Weekend Portfolio Analysis (April 8, 2017)

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

Download Weekend Portfolio Analysis (2017-04-08).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 available: Weekend Portfolio Analysis (April 1, 2017) 
Recent Trading Activity

- Initiated a May RUT Unbalanced Elephant on Monday. Net credit $1,416. All the details here. In the previous weekend analysis, the plan was to use an Unbalanced Iron Condor and yet I ended up playing an Elephant (the second one with May expiration options). I simply fear a rally. Yes, this is "personal bias" influencing my decisions and not being totally mechanical. I get that. But I think it is unavoidable after seeing rallies out of nothing, hurting us for so long. Because RUT is below its 50-day average, it has a lot of room to run. Playing the Elephant provides less credit (Could have obtained $2,200-$2,400 for the Unbalanced Iron Condor), but it is in exchange for upside peace of mind in that, we will have a winning position if the market rallies beyond what anyone expects, while the downside loss is similar to that of the Unbalanced Iron Condor. SPX was above its 50-day. I could have gone with an SPX Unbalanced Iron Condor, to stay loyal to the ideal of "one Unbalanced Iron Condor and one Unbalanced Elephant per month" (Read 2017 Trading Plan here), but the strike prices of choice would have added too much risk concentration in similar spots to those of the existing May SPX Elephant that was initiated almost two weeks ago. So, I definitely wanted to go with RUT.

Friday, April 7, 2017

May 2017 RUT Unbalanced Elephant

Trade Details:

20 RUT 1230/1240 Credit Put spreads 0.62 Credit ($1240)
 8  RUT 1450/1460 Credit Call spreads 0.93 Credit ($744)

plus

2/20 IWM 126/146 Unbalanced Long Strangle (0.74 debit for the 126 strike Puts, 0.21 debit for the 146 strike Calls. Total debit paid: $568 )

Net Credit: $1,416
Days to Expiration: 42

Note: A small account could have created a similar risk profile picture for example by playing a regular Iron Condor 1230/1240/1450/1460. Two contracts per leg, and adding 5 long IWM 146 Calls.

Monday, April 3, 2017

Options Trading Monthly Digest (March 2017)

Time to reflect Options trading results for the month of March. 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.

Saturday, April 1, 2017

Weekend Portfolio Analysis (April 1, 2017)

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

Download Weekend Portfolio Analysis (2017-04-01).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 available: Weekend Portfolio Analysis (March 25, 2017) 
Recent Trading Activity

- Initiated a May SPX Unbalanced Elephant on Monday. Net credit $1,529. All the details here.

Monday, March 27, 2017

May 2017 SPX Unbalanced Elephant

Trade Details:

20 SPX 2160/2150 Credit Put spreads 0.65 Credit ($1300)
8  SPX 2440/2450 Credit Call spreads 0.80 Credit ($640)

plus

1/10 SPY 221/245 Unbalanced Long Strangle (1.11 debit for the 221 strike Put, .30 debit for the 245 strike Calls. Total debit paid: $440 )

Net Credit: $1,529
Days to Expiration: 53

Note: A small account could have created a similar risk profile picture for example by playing a regular Iron Condor 2150/2160/2440/2450. Two contracts per leg, and adding 3 long SPY 246 Calls.

Saturday, March 25, 2017

Weekend Portfolio Analysis (March 25, 2017)

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

Download Weekend Portfolio Analysis (2017-03-25).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: Weekend Portfolio Analysis (March 18, 2017) 
Recent Trading Activity

- No activity. I tried to initiate an SPX Unbalanced Iron Condor on Friday (using regular May expiration options, which were 8 weeks out in time) and was not lucky getting filled.

Saturday, March 18, 2017

Weekend Portfolio Analysis (March 18, 2017)

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

Download Weekend Portfolio Analysis (2017-03-18).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


Related Article: Weekend Portfolio Analysis (March 11, 2017) 
Recent Trading Activity

- Initiated an April RUT/IWM Unbalanced Elephant position on Monday. Net credit $1,396.

- Closed 2455/2460 Call side of March SPX Unbalanced Iron Condor on Monday. Just as planned over the weekend, closing for a small $240 gain.

- March SPX 2100/2090 Credit Put spread expired for max profit on Friday. The SPY 214 long Put also expired, as a loss in this case. The combined result: +$1,200 - $126 = +$1,074. Details and thoughts in the provided link.

Monday, March 13, 2017

April 2017 RUT Unbalanced Elephant

Trade Details:

20 RUT 1270/1260 Credit Put spreads 0.60 Credit ($1200)
8 RUT 1450/1460 Credit Call spreads 0.86 Credit ($688)

plus

2/24 IWM 129/146 Unbalanced Long Strangle (.78 debit for the 129 strike Put, .14 debit for the 146 strike Calls. Total debit paid: $492 )

Net Credit: $1396
Days to Expiration: 39

Saturday, March 11, 2017

Weekend Portfolio Analysis (March 11, 2017)

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

Download Weekend Portfolio Analysis (2017-03-11).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


Related Article: Weekend Portfolio Analysis (March 4, 2017) 
Recent Trading Activity

- Closed March RUT Unbalanced Elephant for a $1,210 gain on Monday

- Closed the May SPX 2520/2530 Credit Call spread for a $750 gain on Thursday

In addition, I tried to enter a new position on Friday using April options. I was a little divided because we were not totally oversold according to the rules but very very close to it. So, I first tried a RUT Elephant, which never got filled. Then I tried a 1250/1240 Credit Put spread. No luck either. Changed it to 1260/1250, no fills. The market rebounded in the afternoon so I tried an Elephant again and, no fills. Tough Friday. I was busy at work too, which made it a bit more complicated. I'll add the new position on Monday.


Market Conditions

(Click on image to enlarge)
Stochastics: 23 (neutral)
McClellan: -186 (oversold)
Stocks above their 20 DMA: 35% (neutral)

No man's land. Close to short term oversold.

The index is now 2.7% higher than its own 50-Day average. More reasonable than 4.6% at one point the previous week, which was extreme. What concerns me a little bit, regarding Call spread positions, is the fact that all three indicators quickly went near oversold territory and yet the SPX index has barely gone down. RUT was weaker on the other hand, but now we are in a situation where there is some upside room.


And here's the Russell 2000, where I have no position at the moment:
(Click on image to enlarge)
Now below its 50-Day average and clearly more oversold than the SPX. I haven't ruled out the possibility of initiating an April Credit Put spread position here on Monday instead of an Elephant. We'll see if we get a weak opening.


Current Portfolio

MAR SPX 2090/2100 Credit Put spread hedged with SPY 214 Put
Max potential profit of $1,074. One week to expiration and no concerns. I won't touch it.



APR SPX 2175/2180/2455/2460 Unbalanced Iron Condor
$2,000 credit. 6 weeks to expiration. Put side comfortable at 7 deltas. Call side now comfortable, down to 9 deltas (from 17 last weekend and from 23 deltas reached on March 1st).

(Click on image to enlarge)
Decision point to the upside is now somewhere between 2,420 and 2,425. By looking at the Option chain, those levels (2420 and 2425) have somewhere between 20%-23% chance of happening. At the same time, given the pressure I felt earlier with this 2455/2460 Credit Call spread, I am now inclined to close it for break-even if possible. I wanted to close it for 50% of max profit this past week, but despite the indicators reaching near short term oversold conditions all I could see in this spread in particular were tiny gains and mostly a scratch most of the time.

Action Plan for the Week

- Let the March 2100/2090 Credit Put spread expire for max profit on Friday.

- The April SPX Unbalanced Iron Condor. If SPX reaches 2,420-2,425 this week (2,455 strike price reaching 30 deltas), the 2455/2460 Call side will be adjusted up to 2500/2510 or something similar. If a 1.00 Credit for this spread is not possible, I will go to May in order to position it higher, in the 2,535 neighborhood and with a greater number of contracts. At the same time, if I can close this 2455/2460 problem child for 0.50 debit, I will take it off the table (initial credit received was 0.52, so it would be a scratch when commissions are factored in).

- Inventory is light. I will be entering the second April position on Monday. With a weak opening I will default to RUT Credit Put spread around 1,260 or 1,250. On a strong opening I will use an Unbalanced Lazy Elephant following the usual guidelines described here.


Economic Calendar
We have the Fed Rate decision in the calendar this week. That will be on Wednesday. So, there's a chance the markets will be in waiting mode (barely moving) until then.

Monday: China's Industrial Production
Tuesday: US PPI, German ZEW Economic Sentiment
Wednesday: US Retail Sales. Crude Oil Inventories. FED meeting and Interest Rate decision
Thursday: Europe's CPI. US Building Permits, Housing Starts, Philly Fed Index

Good luck this week folks,
LT


If you are interested in a responsible and sustainable way of trading options for consistent income with solid risk management, consider acquiring LTOptions, my options trading system to the last detail.

Check out 2017 Track Record


Go to the bottom of this page in order to see the Legal Stuff

Saturday, March 4, 2017

Weekend Portfolio Analysis (March 4, 2017)

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

Download Weekend Portfolio Analysis (2017-03-04).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


Related Article: Weekend Portfolio Analysis (February 25, 2017) 
Recent Trading Activity

- Closed Call side of March SPX Unbalanced Iron Condor on Wednesday. Net loss $2,430. Deployed a May SPX 2520/2530 Credit Call spread, receiving a new $1,350 credit.

Wednesday, March 1, 2017

Options Trading Monthly Digest (February 2017)

Time to reflect Options trading results for the month of February. This 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.

Saturday, February 25, 2017

Weekend Portfolio Analysis (February 25, 2017)

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

Download Weekend Portfolio Analysis (2017-02-25).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


Related Article: Weekend Portfolio Analysis (February 19, 2017) 
Recent Trading Activity

- Added 2400 strike price Long Calls to the March SPX Unbalanced IC as an upside hedge on Tuesday. Basically giving away most of my potential gains from the 2400/2410 Credit Call spread side in exchange for reduced upside risk. Because I was short 2400 strike Calls already, the Calls purchased this week only reduce my short exposure. So, the current position now is as follows, in terms of number of contracts: 20/20/13/15  (from 20/20/15/15 previously).

- Initiated an April SPX 2175/2180/2455/2460 Unbalanced Iron Condor position on Friday. I made a mistake specifying the credit in my limit order. I could have done better. It is a small, worth sharing lesson. Details here.

Friday, February 24, 2017

April SPX Unbalanced Iron Condor

Today I initiated an April 2017 Unbalanced Iron Condor in SPX:

Trade details:

BUY  40 April SPX 2175 Put @7.28
SELL 40 April SPX 2180 Put @7.52
SELL 20 April SPX 2455 Call @3.86
BUY  20 April SPX 2460 Call @3.34

Total  Credit received: $2,000 (0.52 from Calls * 20 + 0.24 from Puts * 40)
Days to expiration: 56

Sunday, February 19, 2017

Weekend Portfolio Analysis (February 19, 2017)

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

Download Weekend Portfolio Analysis (2017-02-19).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


Related Article: Weekend Portfolio Analysis (February 11, 2017) 
Recent Trading Activity

- Adjusted Call side of MAR SPX 2090/2100/2360/2370 Unbalanced Iron Condor to 2400/2410 on Monday at a $1,900 loss. New credit received of $1,125. Put side now almost a sure winner ($1,200 credit)

Saturday, February 11, 2017

Weekend Portfolio Analysis (February 11, 2017)

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

Download Weekend Portfolio Analysis (2017-02-11).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


Related Article: Weekend Portfolio Analysis (February 4, 2017) 
Recent Trading Activity

- No Activity.
As anticipated, given that none of the adjustment conditions outlined last weekend were met I made no defensive moves. On the offensive front, we are still very far from oversold conditions and far from the April monthly options expiration cycle.

Saturday, February 4, 2017

Weekend Portfolio Analysis (February 4, 2017)

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

Download Weekend Portfolio Analysis (2017-02-04).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


Related Article: Weekend Portfolio Analysis (January 28, 2017) 
Recent Trading Activity

- Closed FEB SPX Unbalanced Elephant for a $1,050 gain on Friday. We are now completely done with the February expiration cycle.

- Initiated a MAR RUT/IWM 1235/1245/1450/1460/127/146 Unbalanced Elephant position on Friday for a net credit of $1,480.


Friday, February 3, 2017

March 2017 RUT Unbalanced Elephant

 Trade Details:

20 RUT 1245/1235 Credit Put spreads 0.64 Credit ($1280)
8 RUT 1450/1460 Credit Call spreads 0.91 Credit ($728)

plus

2/16 IWM 127/146 Unbalanced Long Strangle (.80 debit for the 127 Put, .23 debit for the 146 Calls. $528 total debit)

Net Credit: $1480
Days to Expiration: 42

Thursday, February 2, 2017

Options Trading Monthly Digest (January 2017)

Time to reflect Options trading results for the month of January. Going forward these articles will be much simpler, only reflecting the positions that were closed 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.

Saturday, January 28, 2017

Weekend Portfolio Analysis (January 28, 2017)

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

Download Weekend Portfolio Analysis (2017-01-28).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


Related Article: Weekend Portfolio Analysis (January 21, 2017) 
Last week I talked about the idea that some sort of break out, or sell-off should be approaching and we kind of had that: new all-time highs. Now the situation is a little stretched and different: we're close to the upper end of the channel and I think upside is a bit more limited now.

Saturday, January 21, 2017

Weekend Portfolio Analysis (January 21, 2017)

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

Download Weekend Portfolio Analysis (2017-01-21).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


Related Article: Weekend Portfolio Analysis (January 14, 2017) 
Only 2.17 SPX points from open to close in the shortened week of trading that just concluded, with the VIX still extremely low. Boring is good for riding out existing positions, but dangerous for the option seller when deploying new positions.

Friday, January 20, 2017

March SPX Unbalanced Iron Condor

Today I initiated a March 2017 Unbalanced Iron Condor in SPX:

Trade details:

BUY  20 March SPX 2090 Put @8.00
SELL 20 March SPX 2100 Put @8.60
SELL 10 March SPX 2360 Call @4.14
BUY  10 March SPX 2370 Call @3.24

Total  Credit received: $2,100 (0.90 from Calls * 10 + 0.60 from Puts * 20)
Days to expiration: 56

Tuesday, January 17, 2017

Trading Competition: The End

Along with 4 other traders/bloggers, I joined a friendly trading competition in the year 2016. These are guys who do not camouflage their returns, who share their trades publicly and who do not scam naive investors selling them garbage. There was no monetary prize for the winner. It was all for fun and to do something different.

Well, time for the final update:


Saturday, January 14, 2017

Weekend Portfolio Analysis (January 14, 2017)

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

Download Weekend Portfolio Analysis (2017-01-14).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


Related Article: Weekend Portfolio Analysis (January 7, 2017) 
During the "Trump rally" I argued that the indexes had gone too far above their main moving averages. As dumb as it looked to say anything different from "we're going to the moon", the reality is that indexes such as the SPX can rarely stay 4% higher than its 50-day moving average for weeks. 3.5% higher than its 50-day starts to become a stretch. The Russell can overshoot a little bit more than SPX. It is after all a different animal. 6% - 8% higher than its 50-day average does happen in RUT. But also, not sustainable in the long run. We haven't had a market decline, but the sudden rally of December has stalled and it is being digested, for now via time at least. Both RUT and SPX are now much closer to their main moving averages. The two Credit Call spread positions of the January expiration cycle are winning trades by now and should expire this upcoming Friday without hassle of any sort, as psychologically hard as it was to put them on during the Trump rally.