Options Update – closing 2 winners; Portfolio now has positive value

Today I was able to close to winning trades including one debit spread.

IWM – 1 day trade; I took this one off a bit early since it was a debit spread. When it hit 25% of the debit I decided to take some profits.

Here is the option chain.

iwm debit spread winner 6-29-17

Option Trade Stats:

Duration:  1
Credit: $-80
Buying power reduction: $80
Profit: $20
Fees: $2.58
Profit after fees: +$17.42
Profit as a percentage of buying power reduction: +21.7%

I also was able to close a winning trade in SPY, closing the position at 39% of max profit. It was nearing the 21 days to expiration mark and had been going against me for most of the 35 duration. I also was hungry to take some profits while having so much good fortune lately.

Here is the option chain for the opening and closing.

spy credit spread winner 6-29-17

SPY option trade states

Duration: 35 days
Credit: $64
Buying power reduction: $136
Profit: $25
Fees: $2.58
Profit after fees: +$22.42
Profit as a percentage of buying power reduction: +16.4%

I had another great day with the portfolio gaining $111 in value. Which now has a positive value of $38.

portfolio positions and greeks 6-29-17

Here is my Net Liquidation and Buying Power.

net liquidation and buying power 6-29-17

The portfolio total net liquidation is looking good.

Options Portfolio Update – Closing a Loser XRT (retail ETF) – Opened a new position

The market took a small step down today – after hours yesterday I noticed some decent volume on /es in a downward direction; When I finally went to bed, later than I should’ve I figured it wouldn’t still be down by morning.. To my surprise it was

1 day stock market snapshot - overview - 5-17-17

I ended up closing another loser, XRT , a retail based ETF.  I still don’t know what I saw in a retail ETF. I guess it was the fact it was down, but some things belong a bit lower. The trend in retail is definitely skewing towards online sales. Continue reading “Options Portfolio Update – Closing a Loser XRT (retail ETF) – Opened a new position”

Portfolio Update – First Iron Condor – Sideways Market

The market opened slightly up then went a bit higher – holding out until the last thirty minutes before a small pull back at the closing bell.

1 day market chart - google finance - 5-1-17

Opening my first Iron Condor in Portfolio320. I’ve been wrong enough lately so I decided to open a position that is close to Delta neutral.

Iron Condor:
I am trading FXE – an ETF on the Euro
$2 wide strikes; collect $48 in premium. Buying power reduced $152
My break evens are $102.49 to the downside and $108.51 to the upside.
FXE was at $105.70 when I placed the trade.
Managing at $24 winner or $48 loser Continue reading “Portfolio Update – First Iron Condor – Sideways Market”

Options Theory – Option Cycles – When to enter a trade

I prefer to enter option trades with 45-60 days left until expiration; this is the sweet spot for Theta decay.  I prefer to trade only monthly option cycles at this moment.

For example the current May options have 38 days to expiration; The June options have 66 days until they expire. So for me I’m likely to wait 6 days until my window opens for placing option trades.

Continue reading “Options Theory – Option Cycles – When to enter a trade”

Welcome to Portfolio 320

The site is in a very early alpha state.

I’ll be adding pages about my personal strategy and sharing my trades. The account size is small and I’m a novice – you should consider this entertainment.

I’ll share my current portfolio soon..