Weekly Trade Updates - Week 35
Hi Steemians,
here is my weekly sample portfolio update for Friday, December 7th, 2018.
GLD Short Straddle in January
I sold this straddle on November the 20th, 2018 and collected $4.05 for this straddle.
My profit target, as always for short straddles, is 25% of max profit ($1.01).
At the moment this position is up 24 cents ($24 per one lot).
XLE Straddle in January
On November the 28th, 2018 I sold this XLE January 66 straddle for $4.75.
For this XLE 66 straddle the profit target is $1.09.
So when this XLE Jan 66 straddle trades for $3.66 I will buy it back to realize a profit of $109 per one lot (or close it at 21 DTE. Whatever happens first).
At the moment this position is down 19 cents ($19 per one lot).
IWM Short Straddle in January
On November the 28th, 2018 I sold this straddle for $9.14.
The 16 delta strangle was trading for $2.
So I'm going to close this short straddle when it trades for $7.14 or at 21 DTE.
At the moment this position is down $1.39.
New IWM Call Ratio Spread
On December 6th, 2018 I sold this ratio spread for a credit of $1.72.
My profit target for ratio spreads is 25% of max profit ($1.18), so I'm going to close this position when it trades for 54 cents or at 21 DTE.
At the moment this position is up 4 cents ($4 per one lot).
Closing FXE Straddle
I sold this straddle on November the 20th, 2018 and collected $2.72 for this straddle.
My profit target was 68 cents.
Today I closed it for a profit of 61 cents ($61 per one lot), since I didn't want to hold it over the weekend.
Managing Short Straddle in QQQ
This position started out as an aggressive short delta strangle.
Last week I had to roll my put into a straddle, because my upside break even was breached.
Because of the rally earlier this week , I had to roll up my put and go inverted on December 3rd, as you can see in the pictures below.
My profit target for this position is still $2.84, so I'm going to close this position, when it trades for $9.51 or at 21 DTE.
At the moment this position is down $4.65 ($465 per one lot), as you can see in the picture below.
Closing Straddle in EWW
I closed this position today for a profit of 59 cents ($59 per one lot), since I want to free up some buying power.
Delta adjustment in KRE
My downside break even was breached today, therefore I had to roll down the call and go inverted.
The overall credit for this inverted strangle is $5.08.
My profit target for this position is still 80 cents ($80 per one lot)
So I'm going to close this short straddle when it trades for $4.28 or at 21 DTE.
At the moment the position is down $1.25 ($125 per one lot)
New TLT Aggressive Short Delta Strangle
On December the 6th, 2018 I sold this aggressive short delta strangle.
My profit target was the 16 delta strangle credit (77 cents).
Today I closed it for a profit of 50 cents ($50 per one lot), as you can see in the picture below.
New SPY Aggressive Short Delta Strangle
On December the 6th, 2018 I sold this aggressive short delta strangle for a credit of $9.20.
My profit target was the 16 delta strangle credit ($3.49).
Therefore I'm going to close this position when it trades for $5.71 or at 21 DTE.
At the moment this position is up 80 cents as you can see in the picture below.
Pretty tough, but exciting markets at the moment. Lots of opportunities to sell premium.
Stay mechanical and keep your deltas short to hedge your vega risk.
To learn how to do this, watch tastytrade and read my books.
Books Update
My second book which is available for free on Amazon, Google and on Apple for the rest of 2018 has been downloaded 250 times so far.
Thanks to all my readers for downloading it.
If you like it, you would do me a great favor by writing a short review on amazon.
To fully understand my new book, you need to understand all the basics, which I describe in my first book:
It is still available at huge discount on Google Play, so buy as long as it is still cheap.
You can also buy it on iTunes, Amazon or Barnes and Nobel.
Have a great weekend,
Stephan Haller