| barn32 |
01-26-2015 11:36 AM |
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| barn32 |
01-26-2015 11:39 AM |
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| PaceAdvantage |
01-29-2015 12:39 PM |
1 Attachment(s)
I added four calls a few days ago to balance my delta...let me recap from the start:
Opening Trade:
Code:
Date Time Description Fees Comm Amount
1/2/15 14:30:20 BOT +3 BUTTERFLY RUT 100 FEB 15 1220/1170/1120 PUT @9.25 CBOE -0.31 -18.99 -2,775.00
14:30:31 BOT +3 IWM 100 FEB 15 116 CALL @5.10 BATS -0.08 -12.24 -1,530.00
Calls Added:
Code:
Date Time Description Fees Comm Amount
1/27/15 15:23:50 BOT +4 IWM 100 FEB 15 120 CALL @1.69 BOX -0.10 -12.99 -676.00
Then the very next day I sold two of the calls I just added for a bit of a loss:
Code:
Date Time Description Fees Comm Amount
1/28/15 15:36:44 SOLD -1 IWM 100 FEB 15 120 CALL @.99 BOX -0.04 -0.75 99.00
15:36:44 SOLD -1 IWM 100 FEB 15 120 CALL @.99 BOX -0.04 -10.74 99.00
So I ended up booking myself a $158.12 loss in this trade due to the calls.
My current positional graph is as follows (still up over $900 currently, but you have to subtract the $158.12 I booked yesterday): |
| PaceAdvantage |
02-02-2015 07:57 AM |
I closed my February trade on Friday...made well under my $1500 goal, but was profitable nonetheless...I will post details later today...
Also entered into my March trade, and will post details of that today as well..
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| barn32 |
02-03-2015 10:40 AM |
Sold my Feb 6, two-week "experimental" M3 for a $347 profit. Held it for eight days with no adjustments. It's too bad the market wasn't down today. I would have more than doubled my money.
http://oi62.tinypic.com/2vjs8ki.jpg |
| barn32 |
02-03-2015 11:40 AM |
Entered a new "experimental" 10-day Feb 13 M3 trade just now. The data in the box at the top of the graph is how I structured the trade. Divide the number of RUT contracts by ten and change the 3 RUT calls to 3 IWM calls. (The IWM calls were actually $7.05, which would convert to $70.50 in OV [multiply by ten], but I leave the RUT price in OptionVue so it will have an accurate analyze graph. When I close out the trade I put in the actual buy and sell price of the IWM calls. It's unfortunate OV will not let you mix and match different types of derivatives, so until they change that feature, doing things things like this is the only way you can accurately reflect your position.)
http://oi61.tinypic.com/34yy2dy.jpg
The Greeks
http://oi60.tinypic.com/14wyn1t.jpg |
| PaceAdvantage |
02-04-2015 12:41 AM |
A little late, but as promised, the details of the February Expiration trade:
Code:
Date Time Trade Description Fees Comm Amount
1/2/15 14:30:20 BOT +3 BUTTERFLY RUT 100 FEB 15 1220/1170/1120 PUT @9.25 CBOE -0.31 -18.99 -2,775.00
14:30:31 BOT +3 IWM 100 FEB 15 116 CALL @5.10 BATS -0.08 -12.24 -1,530.00
1/26/15 15:23:50 BOT +4 IWM 100 FEB 15 120 CALL @1.69 BOX -0.10 -12.99 -676.00
1/28/15 15:36:44 SOLD -1 IWM 100 FEB 15 120 CALL @.99 BOX -0.04 -0.75 99.00
15:36:44 SOLD -1 IWM 100 FEB 15 120 CALL @.99 BOX -0.04 -10.74 99.00
1/30/15 10:34:49 SOLD -2 IWM 100 FEB 15 120 CALL @.80 BOX -0.06 -11.49 160.00
15:50:52 SOLD -3 BUTTERFLY RUT 100 FEB 15 1220/1170/1120 PUT @15.80 CBOE -0.31 -18.99 4,740.00
15:51:10 SOLD -1 IWM 100 FEB 15 116 CALL @2.46 MIAX -0.04 -0.75 246.00
15:51:10 SOLD -1 IWM 100 FEB 15 116 CALL @2.46 MIAX -0.04 -0.75 246.00
15:51:10 SOLD -1 IWM 100 FEB 15 116 CALL @2.46 MIAX -0.04 -10.74 246.00
-------------------------
-1.06 -98.43 855.00
-------------------------
+755.51
I made roughly half of my profit goal...1,500...after commissions. Not great, but better than a losing month.
PaceAdvantage M3 Trading Tour 2015
_______________________________
January...+311.93
February..+755.51
-----------------------
TotalYTD..+1,067.44 |
| PaceAdvantage |
02-04-2015 12:44 AM |
1 Attachment(s)
And here are the details for the March trade that I entered a few days ago:
Code:
Date Time Trade Description Fees Comm Amount
1/30/15 11:02:59 BOT +3 BUTTERFLY RUT 100 MAR 15 1200/1150/1100 PUT @8.90 CBOE -0.31 -18.99 -2,670.00
11:04:30 BOT +3 IWM 100 MAR 15 116 CALL @4.08 CBOE -0.08 -12.24 -1,224.00
I am already in grave danger of having to roll up... |
| Dick Schmidt |
02-04-2015 07:28 AM |
Not entirely sure I understand all of this, but it does seem like a hell of a lot of work for a small reward. It also seems to take months, if not a year or more, to realize those profits. Wish I understood this better.
Dick
My whole body cries out against the inhumanity of regular employment.
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| PaceAdvantage |
02-04-2015 08:06 AM |
Quote:
Originally Posted by Dick Schmidt
Not entirely sure I understand all of this, but it does seem like a hell of a lot of work for a small reward. It also seems to take months, if not a year or more, to realize those profits. Wish I understood this better.
Dick
My whole body cries out against the inhumanity of regular employment.
|
Actually, not much work at all really (speaking from my experience only...barn's may vary). You only need to look at your position once or twice a day if that much...your risk is always limited...there is very, very little risk of getting crushed overnight, and even if you do, like I said, you know your max risk at all times.
And this is a monthly trade...my goal right now is to make $1500 per month, as I am only trading a "3 lot" at the moment which isn't much...
Each trade is opened and closed in approximately 30 days. |
| barn32 |
02-04-2015 01:14 PM |
I didn't "have to" adjust my Feb 19 M3, but I did for several reasons.
1. I was outside the tent with a Delta over -50
2. My Vega was positive
3. I just didn't like the look of my position
Rolling moved my Vega from +105 to -939.
I also debated between rolling 20 or 30 points and I settled at 30. That could be a mistake as well getting closer to expiration.
Then again, maybe I should have just waited, but what is, is.
Below are the before and after photos
http://oi59.tinypic.com/2dsh5ad.jpg
http://oi60.tinypic.com/25q6pad.jpg |
| barn32 |
02-05-2015 12:17 PM |
Quote:
Originally Posted by Dick Schmidt
Not entirely sure I understand all of this, but it does seem like a hell of a lot of work for a small reward. It also seems to take months, if not a year or more, to realize those profits. Wish I understood this better.
|
If you have any specific questions I would be more than happy to try and help. |
| da_ksk |
02-11-2015 03:21 AM |
Max los
What has been the max lost that you had with this trading?
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| barn32 |
02-11-2015 07:38 AM |
For me, trading one lot, I think it was around $400. That was my first trade with the M3, and I made a lot of mistakes.
I made entry mistakes. I got bad fills, and I purchased some wrong contracts.
I also didn't really know what I was doing and was just flying by the seat of my pants.
Overall, I think if you win 9 or 10 months out of 12 you're doing about right.
Don't forget, you don't have to take a "max loss." Or a max win for that matter. You can always bail out early.
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| barn32 |
02-11-2015 02:41 PM |
I ended up converting my 2nd "experimental" 10-day M3 to a straight vertical today.
I didn't do a roll but I did hedge with 23 1160/1180 verticals along the way. After selling off the calls and the RUT butterfly I'm left with just the verticals. Before and after photos below.
As long as IWM ends up above 118 by Friday, I'll wind up with an appx. profit of $650.
http://oi58.tinypic.com/2q08x93.jpg
http://oi61.tinypic.com/2h84ewl.jpg |
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