The market opened sideways for the most part – then the DOW started a downward trend. Here is how the market looked at 10:30am
Here is how the market closed
I opened a position in XOP – an oil and gas ETF. I opened the -33/32 put spread for $23 at the time of opening – This was because at the time of the trade it had a lot better odds – throughout the day XOP continued to tumbled down.
Here is the opening order chain..
Here is a graph showing the floor I set.
Feels like I chased this one – 1) cause of the low premium collected and 2) cause I know that I sat there and watched it ‘work’ and moved the bid down..
Here is a view of my total positions at the close of the bell.
You can see my portfolio chance of success has dropped to 51%, this is do to the fact that when I added DELTA it came with some downside risk – below you can see my risk graph with and without my positive DELTA positions
Without Delta positions – wins with SPY below $240
With Delta positions – Current risk graph – Wins with spy above $220 and below $240
On a different note – my deposit hit the account – here is my net Liquidation and Buying Power Available:
I have 7 positions collecting $198 using around $495
My target collection is $315, using $630 – $945 buying power.
I have about 13 days left in the window of expiration I prefer (45-60 days).