The market opened sideways but I was hurt by my 2 OIL positions and the QQQ’s.
The market closed slightly up. The portfolio lost $23 in value today and is down an even $100 so far in value.
The VIX dropped even more – I would guess it is as low as possible; but I thought that the last 2 or 3 days. Vix is the ETF that measures volatility – volatility is the expectation of the movement size of the market. Volatility also controls the premium on options – right now it’s hard to collect 1/3 the width of the strikes in a vertical with volatility being so low – it’s a ‘tough’ market to sell premium in to say the least.
I broke a mechanic today – by letting the QQQ’s go beyond 100% of premium loss. Tomorrow I will fix this by closing the position losing an extra $7-$10 in the process.
Here is my complete portfolio at close.
My net liquidation and buying power.
There are 50 days left in June’s monthlys and Tuesday of next week should be close to where I stop opening positions until July comes into the 60-45 day range.