tag:blogger.com,1999:blog-5375291312433129989.post5994276102331101587..comments2023-06-03T05:06:58.216-04:00Comments on The Lazy Trader: Weekend Portfolio Analysis (September 13, 2014)Henrikhttp://www.blogger.com/profile/05792195649092816606noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-5375291312433129989.post-26454029964491784732014-09-15T11:06:32.209-04:002014-09-15T11:06:32.209-04:00I need RUT to fall below 1140 before I sell Novemb...I need RUT to fall below 1140 before I sell November credit put spreads in size. I am looking to collect around 1.00 in credit for my November put spread so I will probably do the 1000/990 credit put spread. Jonathanhttps://www.blogger.com/profile/14635010979050643513noreply@blogger.comtag:blogger.com,1999:blog-5375291312433129989.post-23213945845274132422014-09-14T13:52:27.235-04:002014-09-14T13:52:27.235-04:00Hey buddy,
Yes, by September SPX Credit Put sprea...Hey buddy,<br /><br />Yes, by September SPX Credit Put spread I really meant October. I already fixed it. Thanks.<br />As for the potential RUT Put spread around 980,of course it doesn't yield a good credit right now. I meant, it would be my candidate if the market falls to a short term oversold extreme. A 2% fall in RUT this week, maybe less than that would put the NOV 980 Put at the 10% probability mark. And the 980/970 spread potentially around .55 - .60 credit.<br /><br />Thanks for sharing your trades.They all look pretty good to me.<br />Cheers,<br />LT<br /><br />The Lazy Traderhttps://www.blogger.com/profile/08598866019359750526noreply@blogger.comtag:blogger.com,1999:blog-5375291312433129989.post-30348648977649917702014-09-14T11:15:38.115-04:002014-09-14T11:15:38.115-04:00“Patience is, to me, one of the most important tra...“Patience is, to me, one of the most important traits as a trader.”<br /><br />I completely agreed with you. I think most people equate trading to a traditional job. If they are not trading everyday, they feel they are not making money or being productive. In my lazy way of trading, having patience to wait for the high probability trades is the most important factor in my ability to consistently make profits month after month. While the person who trades more often appears to be making more money, in the long run this person will end up with more stress and perhaps a smaller trading account than me. I compare the stock market to a casino. The more often you play at the casino, the more likely you will lose. <br /><br />“No man's land but close to an oversold extreme. I'll be ready to sell Puts any time in the next few days. Calls dangerous at this point.”<br /><br />If SPX hits 1950 this month, I will consider it to be oversold and I will be eagerly selling bull put spreads. <br /><br />“Solid month. YTD performance will improve to +17.88% on Friday.”<br /><br />Congratulations on a good year so far. <br /><br />“RUT 1020/1030/1230/1240 Iron Condor 85% probability of success with 34 days to expiration. Starting to look comfortable now with RUT at 1160.”<br /><br />I regret closing my October RUT 1230/1240 credit call spread prematurely 2 weeks ago. I wish I still had this position. <br /><br />“Let everything in September expire for max profit.”<br /><br />I am planning to do the same thing. <br /><br />“An SPX Credit Put spread in September would be around 1820-1815.”<br /><br />I think you mean October. <br /><br />“I'll go to November. I'll be happy selling SPX Puts around 1770 or RUT Puts around 980. RUT's looking more oversold than SPX, so I'll probably go with RUT.”<br /><br />I am not sure you can get good credit with RUT 980 right now unless RUT goes down to 1130 or lower. I am also eyeing those levels for RUT and SPX for my November credit put spread positions. <br /><br />“In the event the market doesn't reach an oversold extreme this week, and rebounds instead, I'll go with a November SPX Iron Condor by Friday. For this Iron Condor I would be happy selling Puts around 1790 and Calls around 2090. As usual, trying to get .80 credit. We'll see what happens.”<br /><br />That sounds like a good plan. I will probably do the same thing. We might have to get closer to 1800 and 2080 to get .80 credit by this Friday if we are still in no man’s land. I am hoping we will go down to an oversold condition because I prefer selling credit put spreads than doing an iron condor. <br /><br />What I did last week:<br /><br />Nothing. It was a very uneventful week for me. None of my current positions needed to be adjusted. No new trades made.<br /><br />My current positions:<br /><br />Sept IWM 103/101 credit put spread (going to let this expire next Friday)<br />Sept IWM 98/96 credit put spread (going to let this expire next Friday)<br />Oct IWM 95/93 credit put spread <br />Oct RUT 1030/1020 credit put spread (was hoping to iron condor with credit call spread but it is too late now)<br />Oct SPX 1725/1720 credit put spread (got a GTC order to close for 0.05 debit)<br />Oct SPX 2075/2080 credit call spread (will adjust if SPX touches 2050 this month)<br /><br />You can follow me on Twitter @lienjonathan where I tweet my 90% probability credit spread trades in real-time for free.Jonathanhttps://www.blogger.com/profile/14635010979050643513noreply@blogger.com