Trade Updates - Week 27/28

Hi steemians and option traders,

the past two weeks have been really wild in the markets.
Unfortunately I haven't got time to post trades, since I have been working over 80 hrs per week lately.
Writing books, promoting books, being a trader, taking care of the family and working a regular job is very time consuming.

My book was mentioned on the tastytrade network today, which was pretty amazing.

Here is the video

Now let's have a look at the markets:

S&P 500 Future

source:tastyworks

Nasdaq 100 Future

source:tastyworks

30 Year Treasury Bond Future

source:tastyworks

VIX

source:tastyworks

I had to do a lot of rolling to manage/ defend my positions.
Now let's have a look at my positions.

First let's have a look at the positions I closed.

QQQ Iron Fly in November

source:tastyworks

I collected $9.42 for this Iron Fly.
I was able to close this position on October, 10th, for a small profit of 14 cents.
Considering that this position started out as a broken wing call butterfly over two month ago, which was a huge loser during the time, I'm pretty happy about this small winner.
You can review the whole trade management here.

SPY Short Call Spread in November

source:tastyworks

I collected $4.54 for this credit spread.
On October, 10th, I closed it for a nice profit.


Below are the position, which are still open.

GLD Short Straddle in November

source:tastyworks

I collected $3.41 for this straddle.
My profit target, as always for short straddles, is 25% of max profit (85 cents).
So I'm going to close this position when it trades for $2.56 or at 21 DTE.
At the moment this position is up 20 cents ($20 per one lot).

XLE 30 Delta Short Strangle in November

source:tastyworks

This started out as a short strangle, but I had to roll down the call to defend my position.My overall credit for this short straddle is $3.46
My original profit target, hasn't changed (95 cents).
So I'm going to close this position when it trades for $2.51 or at 21 DTE.
At the moment this position is down 10 cents ($10 per one lot).

Short Straddle in IWM in November

source:tastyworks

I also had to defend this position.
First I had to roll down the call and when going inverted wasn't enough I had to add a short call to neutralize my deltas.
So this is now a inverted short strangle with an additional short call.
My original profit target, when this position started out was $1.61.
It hasn't changed.
My overall credit for this position is $15.36, so I'm going to close this position when it trades for $13.75.
At the moment this position is down $2.70 ($270 per one lot).

FXE Straddle in November

source:tastyworks

I collected $2.49 for this straddle.
I also had to go inverted in this underlying, so my overall credit is $3.45.
My profit target, as always for short straddles, is 25% of max profit (62 cents).
So I'm going to close this position when it trades for $1.87 or at 21 DTE.
At the moment this position is down 39 cents ($39 per one lot).

Inverted Strangle in TLT

source:tastyworks

I collected $4.52 for this inverted strangle.
This position was deep in the hole, so I will try to scratch it if I get the chance.
At the moment this position is down $1.10 ($110 per one lot).

EWZ November Short Straddle

source:tastyworks

I collected $5.41 for this straddle.
At the moment this position is down 38 cents ($38 per one lot).


All in all pretty tough weeks, but if you compare my portfolio to an all long stock portfolio, you can see how strong a uncorrelated short premium portfolio really is.

Please buy my book if you want to learn how to sell premium

Have a great weekend,
Stephan Haller

Legal disclaimer: These are not trade recommendations. Options involve risk and are not suitable for all investors. The trades shown above are for educational purpose only.