I’ll never complain about a sideways market open again! At least until the next time I do complain 🙂
The market around 9:40 am
and how the market closed.
I was finally able to take off my last trade in May’s monthly cycle. It had 23 days left. EWW took 30 days as a trade to collect 50% maximum profit.
One cool thing I noticed is that I was actually filled 2 cents better than my trade. My trade was for .28 in premium and I got filled at .30
Here are the trade stats:
Buying power reduction: $70
Profit after fees: $12.42
Profit as a percentage of buying power reduction: 18% in 30 days
Tomorrow is a big day for earnings and we’ll see what happens.. the cool part is that no one knows. I need to think about how quickly I built up this cycle; perhaps spacing out entry would’ve been smarter. At least for core positions like DIA and SPY perhaps it’s smarter enter them at least days apart if not a full 5 day week.
I also need to transition to $2 wide widths on the verticals – I’d rather have 6 $2 wide positions than 12 $1 wide positions. This current cycle has 51 days left until expiration meaning I have 6 days left of entering new positions (for my particular strategy and liking). So next Tuesday is the last entering day for me ~ hopefully by then the portfolio has settled into a more profitable outlook 🙂
Here is every position I have on and their greeks.
The Risk graph of all the positions weighted against the SPY
Risking $405 in buying power, collecting $295 in premium.
The Net Liquidation and buying power of the account