Another minimal movement day – no position changes

Today started out mixed then around 12 the market slowly walked upwards. Fortunately enough in the last hour it came back down to the open and closed even a slight bit lower. My portfolio is delta negative as weighted against the SPY meaning in general if the spy goes down my portfolio gains value and if the SPY goes up the portfolio loses value. Of course with options you have to consider time, Theta as well.

market snapshot 1 day 4-7-17

There are no position changes to report – I am hoping that we have a downward trend in the markets Monday. A downward move would hopefully enable me to post my first position change selling the QQQ position.

In the future as the portfolio grows – both by depositing funds and hopefully by collecting premiums these posts should be more entertaining.

Account Recap:

Account value dropped $10 today; overall account value is -$2.

Mostly taken down by EWW (Russel 2000 ETF) and TLT (20 year US treasury bond ETF). The TLT is surprising [1] cause it’s loosely negatively correlated with the SPY which ended up down a small amount – I believe the TLT is a slower moving stock – and since most of the day the market was up – it didn’t fully reflect the correlation when the SPY ended down. Also note it’s loosely correlated – that is to say it’s’ not a 1:1 reflection of opposite behavior.

Another reason for the TLT hiccup could be that the Federal Reserve mentioned changes in it’s monetary policy. Overall I try not to get into reading the tea leaves of news and try to play a simple contrarian thought to the market overall.