Options Portfolio Update – Rolling up Iron condors QQQ and TLT

This update covers trades made on 7-17 and 7-18. I rolled up the ‘untested’ put side of my QQQ Iron condor. This means the price of QQQ has risen to challenge my call side. The idea is to roll the put side up to collect more credit, while taking some profits at the same time.

Initially I sold the 131/19 puts portion of the iron condor for $32 I was able to buy them back for $8 after $2.58 in fees that left a profit of $21.42. I then sold the 139/137 put spread in the same date range (Aug 18 / 31 days) for $36.

Here are the trades.

iron condor put side roll up 7-19-17

The new QQQ Iron Condor

new qqq iron condor 7-19-17

I’ve now collected a total of $64 for the current open Iron Condor and have taken $21.42 to the bank. Grand total of $85.42 ~ the goal would be to close the current position for 50% of the current max profit (50% of $64 = $32)

I also rolled up the put side on my TLT Iron condor. I sold the 121/117 put for $75 initially. I bought it back for $25 meaning $50 profit – 2.58 fees. $47.42 was taken to the bank. I then re opened the puts at higher strikes; I sold the 123/120 put spread for $57.

Here is how the new iron condor looks

new TLT iron condor 7-19-17

The current open Iron Condor is collecting a total of $128 and I’ve taken $47.42 to the bank.

Although I was able to take some profits it was because these positions were challenged to one side of the iron condor. Ideally of course positions would require no adjustment; by adjusting the put side up the trades became less likely to succeed (now the ceiling and floor I set for the price is in a tighter range).

New development: I made my first naked trade.

I sold the $32 call option x 1 contract on MU for $141 the break even is the price + credit received so in this instance my ceiling is $33.41 the current price is $31.51 I show a 67% chance of profit.

My cushion between break even and current price is $1.90 6% away from the current price.

This naked trade required about $640 in buying power. It’s a bit out sized for my portfolio but I’m still learning; it’s also within my risk tolerance on a personal level.

Here is my current Options Portfolio. It’s not looking the best but still has about a 61% chance of profit. My biggest error is the debit spread(s) in FXE I need to remember this lesson and try not to be a premium buyer – my nature is more a premium seller.

portfolio positions and greeks 7-19-17

Net liquidation and buying power of my Options Portfolio

net liquidation and buying power - options trading blog

Here are the closing trades to date for this cycle.

closing options trades to date 7-19-17

 

Options Blog Update – Closing BABA a loser – A small winner in USO debit spread

I had to close BABA a loser today – it was frustrating how much it just kept going against me – With only 9 days left at the time I figured I would rather get out for a $60 loss than the max loss of $150

Here is the option chain for Alibaba

alibaba_Closing a loser 7-13-17

Here are the statistics of the trade.

Duration:  14
Credit: 50
Buying power reduction: $150
Profit: -$60
Fees: $2.58
Profit after fees: -$62.58
Profit as a percentage of buying power reduction: -42%

I was able to close a tiny winner in a USO Debit spreads. I usually like to manage these at 25% instead of the usual 50%

small uso options winner 7-13-17

Here are the stats for this USO options trade:

Duration:  5
Credit: -$35
Buying power reduction: $35
Profit: $9
Fees: $2.58
Profit after fees: $6.42
Profit as a percentage of buying power reduction: 18%

This Alibaba loss and my loss to the Boeing position I’m now down -$36.80 for this cycle so far. I have until next Thursday the 20th to cash in some winners to have a winning month.

Here are my closing trades so far.
closing trades so far 7-13-17

All my positions and basic Greeks.

all positions and greeks 7-13-17

Risk Graph for the whole portfolio

options portfolio risk graph 7-13-17

Buying power and net liquidation for the options portfolio

net liquidation and available buying power - 7-13-17

 

Options Portfolio Update – closing 1 loser opening 1 debit spread

Today I closed Boeing as a loser. Boeing breached my strike price and was only 10 days away from expiration. Too much risk for my appetite so I took a $60 loser.

Boeing Option Chain – Closing the loser.

closing boeing a loser - 7-11-17

Boeing options – Trade Stats

Duration:  20 days
Credit: 60
Buying power reduction: $190
Profit: -$60
Fees: $2.58
Profit after fees: -$62.58
Profit as a percentage of buying power reduction: -33%

Considering the max loss was $190 losing $60 wasn’t the worst thing that could happen. I looked into re-opening a position in the back month but for the strikes I’d want they only had $10 wide options.

I also opened a FXE debit spread. I usually avoid debit spreads I prefer to sell premium.

FXE Option trade

FXE debit spread open 7-11-17

I took this ‘bet’ cause it costs $25 for a potential max profit of $175 – that’s a 7:1 pay off ration. The odds are 23% to make any profit. I’m looking to take this trade off at about 25% of max profit .. about $44 profit.

The account shows a loss of $14.50 – Below you can see every open position and their greeks.

option positions and greeks 7-11-17

Here is my net liquidation and available buying power.

net liquidation and buying power - options 7-11-17

 

Options Blog Update – One Position Change – Closing a entry error for a small loss

Today I was able to close my entry error on FXE. I accidentally placed a debit put spread with only 14 days remaining on Friday.. I meant to put it on the back month which was about 39 days away. I lost $10.58 including commission and fees.

Here is the FXE option chain

FXE closing a mistake 7-10-17

Today was a slight down day with the portfolio being down $7.

Current Options Portfolio

all positions and greeks - 7-10-17

Net liquidation and available buying power

liquidation and buying power - options - 7-10-17

 

Options Portfolio Update – Closing MSFT winner opening TLT Iron Condorm USO Debit Spread – Accidental Fat Fingered open

This post is catching up for 7-6 thru 7-7

I ended up closing my MSFT 70/72.5 call spread for a small winner. I gave it plenty of time to work (45 days) and it was going back and forth against me. Since it only had 15 days left I didn’t want to be caught holding a loser instead of taking a small winner when I could

msft small winner 7-8-17

Stats on this small winning option trade [MSFT]:

Duration:  45
Credit: 75
Buying power reduction: $175
Profit: $11
Fees: $2.58
Profit after fees: +$8.42
Profit as a percentage of buying power re`56tduction: +4.8%

I also opened a TLT iron condor.

Here is the fill:

TLT open iron condor 7-8-17

$4 wide and collecting $146 with 43 days until expiration. Max loss is total width minus credit received so $354. The break evens are 126.46 to the upside and 119.54 to the downside.

Opened a small debit spread on USO. Bought the 9 call and sold the 10 call for $35 debit. My break even is $9.35 and max profit would be $65

Here is the USO chart with the break even floor marked.

uso chart 7-8-17

I was looking to get back against FXE via a debit spread; however I accidentally didn’t double check the expiration dates; I ended up with this turd of a trade. I like the strikes and price – but it’s only for 14 days – I plan on getting rid of it Monday for a small loss and seeing what the premium might be for the strikes I want.

FXE_Debit_mistake

Here is my current open portfolio

current open portfolio 7-8-17

Net liquidation and buying power available.

net liquidation and buying power 7-8-17

Bonus Update! Here are my closing trades since 6-21 (start of this new cycle) it’s looking great as long as I don’t blow it up with the remaining open positions.

closing trades so far 7-8-17

 

Options Blog – Update – Opening 2 positions, closing a small winner

I closed my old QQQ Iron condor for a small profit $21 before fees. I was being tested on the 136/131 put spread side. Below is the QQQ option chain

QQQ Iron Condor close for small winner 7-5-17

I was then able to reopen a smaller position ($2 dollar wide instead of $5 wide). Now by break evens are 130.40 to the downside and 144.60 to the upside. Giving a 7.12 cushion to the upside and 7.08 to the downside; 5.1% in both directions.

QQQ Iron Condor re-open smaller risk profile good credit

I see this as taking profit, re-centering my Iron Condor all while taking off some risk.

Here are the stats on the closed trade : It’s not the standard 15-20% return on buying power; but I’ll accept all wins – even some ‘scratch’ trades.

Duration:  14
Credit: $206
Buying power reduction: $294
Profit: $21
Fees: $5.16
Profit after fees: +$15.84
Profit as a percentage of buying power reduction: +5.4%

My other open was a 247 / 249 call spread for $57. Break even is $247.57 just outside the expected move.

spy credit call spread 7-5-17

Here is a SPY chart (3 month, measured in 1 day) .. marked with the ceiling I set.

spy chart with ceiling for call spread 7-5-17

The overall portfolio had a down day losing about $113 in value.

positions and greek 7-5-17

Here is the current Net Liquidation and Buying Power available.

net liquidation and buying power - 7-5-17

 

 

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 Update – 2 days, Opening DIA and good portfolio performance

This post covers today (no position changes) and yesterday (6-26-17, one opening trade).

Yesterday a few minutes after market open my portfolio was down about $30. Mainly based on SPY and BA going against my position.

opening bell positions and vaule change

Around 9am my option portfolio was down $40 dollars in value for the day and down $90 overall. At this point I thought ‘hopefully this sharp down move will do what the market has seemed to do the last 60 days and end up either back at $0 or slightly reverse in the last hour of the day’.

The portfolio actually reversed early and sharply to being positive $48 for the day. Here it is at 11am

sharp reversal 6-27-17

I also opened the 217219 call spread for August 53 days away for $61. This makes my break even $217.61

DIA 217-219 call spread

The ceiling was almost off the top of the 3 month chart (blue line).

dia call spread chart 217-219

Here is how the portfolio ended up yesterday; +$82.50

end of 6-26-17 day great gain

I think it was one of my best days from the portfolio value gained perspective.

I was +$7 at 8:59, +$4 at 10:49 and ended the day up $50.

Now the options portfolio is collecting $514 in credit from 7 of the 8 positions; We have 1 debit spread in FXE with a long time work

Here is my current positions and greeks.

portfolio and greeks 6-27-17

Net liquidation and Buying Power:

net liquidation and buying power 6-27-17

 

 

Options Blog Portfolio Update – 2 new opening positions BA and QQQ

Today I opened 2 new positions. I opened a call spread against Boeing (BA) and a Iron Condor in QQQ.

I sold the 205/207.5 call spread in Boeing for $60, with a max loss of $190.

Here is the stock chart for the last 30 days with my break even marked with a blue line.

boeing 3 month graph with my break even 6-21-17

and here is the fill for the order.

boeing call spread - fill - 6-21-17

Here is the 30 day chart with my lower and upper break evens for the QQQ iron condor. Continue reading “Options Blog Portfolio Update – 2 new opening positions BA and QQQ”

Options Portfolio Update 5-21 thru 6-20 – a winning month

I have been slacking lately in updating; However here is the month long update. This Options Portfolio Recap goes from May 21 until the close of market June 20th.

I had 6 winners and 3 losers for a total profit after fees of $57 – $75. It is very hard to calculate going back.. which emphasizes the need to  keep up to date.

The easiest way to calculate the profit was to measure from the last Net Liquidation, $1783.25 to the new liquidation $1799.10 and add back in the current portfolio losses (since these aren’t losers remaining from the last portfolio). The current portfolio is down $63.50 and the net liquidation is up $5.85 so when you add them together I’ve gained $69.35 which is right in the middle of my 57-75 range above.

Here is a chart that shows the account recovering although since it’s based on net liquidation and the portfolio  is currently down about as much as my gains it only shows a slight improvement

status_chart_6-20-17

Here is my current portfolio

options portfolio 6-20-17

Current net liquidation and available buying power.

net liquidation and buying power 6-20-17

I ended up gaining 3-4% return over the last net liquidation of $1,783 it just doesn’t show cause I’m carrying a loss in the current portfolio. 4% is my target performance and that is great.

I’m  also changing one bit of strategy. I am no longer cutting my losers at 100% of premium. I am going to let most plays ‘play out’ and make tough decisions starting at around 21 days to expire left. I am still taking my winners at 50% of max profit.

The reasoning is that when I enter a trade with 70% of success it’s really only 70% ‘in that moment’ and that 70% includes all the trading days of the contract. So when I was cutting losers at 100% of premium I wasn’t really giving them time to work.

The new strategy is basically to go at least $2 – $3 wide still collecting 1/3 the width of the strikes. This makes a 70% POP (percentage of profit / success) trade a real 70% and since I’m managing at 50% the likely hood of winners goes even higher, plus I can when managing at 50% flip my capital over more often then letting the trades expire.

Closing DIA a mechanical loser – Options Blog

Today I closed DIA very mechanically at almost a perfect loss as a percentage of premium collected.

dia closing a loser mechanically 6-1-17

This trade had 38 days to work and didn’t

Here is a graph showing when I put on the trade and how the stock moved in the 27 trading days since then.

graph of DIA since opening and now closed - 6-1-17

The yellow line going up shows the date entered – the horizontal line shows the beak even.

This was one of my last trades in the June cycle.

Duration:  38 days
Credit: $28
Buying power reduction: $72
Profit: -$29
Fees: $2.58
Profit after fees: -$31.58
Profit as a percentage of buying power reduction: -44%

 

 

Options Blog – Closing a Loser XLE

Like I said a couple days ago – I won’t ever be too upset if a trade doesn’t work out but had plenty of time to. XLE had 43 days to work. I only wish I could have closed it closer to where I wanted to mechanically close it.

XLE 5-31-17 closing a loser

Trade Stats:

Duration:  43 days
Credit: $25
Buying power reduction: $75
Profit: -$33
Fees: $2.58
Profit after fees: -$35.58
Profit as a percentage of buying power reduction: -47%

I only have 2 more 16 day positions left and only 1 more $1 wide position. XLE cost me $8 more than it should have if I would’ve caught it earlier yesterday.

Options Blog – No position changes – slightly down market slightly down portfolio value

I had no position changes; but if things don’t look a bit better in energy tomorrow I’ll be closing one of my last $1 trades a lose (XLE)

options overview with greeks

Here is my net liquidation and buying power available .

net liquidation and buying power 5-30-17

I’m collecting $508 in premium (now worth $672) for a net value loss of $164.50. I’m collecting the $508 in 7 positions, 2 being $1 wide and 5 being $2 wide..

3 positions have 17 days until expiration, the other 4 positions have 52 days.

Options Blog – Closing SPY a loser, XOP Winner, Opening SPY, SBUX

Today I am closing out a loser in SPY. I’m actually ‘rolling’ this trade cause I’m also opening another SPY position, so you’d say I’m rolling out in expiration into the JULY monthlys and rolling up the strikes on the call spread. It’s the same thing I just consider every trade a separate position when I put it on.

Here is the loser

closing spy loser 5-27-17

I’m not going to be too upset when a trade doesn’t work out after being on for 38 days; I feel like it had plenty of time to work.

Trade Stats:
Duration:  38 days
Credit: $31
Buying power reduction: $69
Profit: -$36
Fees: $2.58
Profit after fees: -$38.58
Profit as a percentage of buying power reduction: -56%
Continue reading “Options Blog – Closing SPY a loser, XOP Winner, Opening SPY, SBUX”

Options Blog – Opening SBUX Call Spread

Today I opened a Starbucks Call Spread. I sold the $62.50 July call and  bought the $65.00 July call for a net credit of $65. These contracts have 58 days to expiration.

sbux call spread 5-24-17

sbux call spread - with expected move in orange

The orange bar represents the expected move. Within a few hours of making the trade Starbucks gained $.65-.70 and the trade closed down $17.50

Options Portfolio Overview with Greeks (Delta, Theta and Vega)

options portfolio overview with greeks - 5-24-17

Options net liquidation and Available Buying Power

net liquidation and buying power 5-24-17

I have collected $240 so far in the back month’s cycle and I’m looking to collect about $90 more (about 2 more positions) .. I’ll also collect a bit more if some of the 6 positions remaining in the front month can be closed.

Options Blog – Closing Target a Winner & Opening MSFT, FXE, EWZ

Today I opened my first trades of the 3rd cycle, 5-21 thru 6-20-17. I was also able to close TGT a winner.

TGT Options Trade:  Closing Trade

Closing TGT Winner 5-23-17

Trade Stats:
Duration:  6 days
Credit: $50
Buying power reduction: $200
Profit: +$25
Fees: $2.58
Profit after fees: $22.42
Profit as a percentage of buying power reduction: 11.2%

I opened a $70 / $72.50 call spread for $75 with a 67% chance of profit. Continue reading “Options Blog – Closing Target a Winner & Opening MSFT, FXE, EWZ”

Options Blog – Portfolio Update – Closing a Winner TLT

The market had a rebound from yesterday – although it wasn’t a full recovery. Below is a 5 day chart for the overall market.

5 day stock market overview chart - 5-18-17

Today I woke up and my GTC (good ’till canceled) order to buy back my TLT spread for 50% of maximum profit had executed at 2 minutes after the opening bell. Here is the TLT winner and stats.

TLT winner - 5-18-17

Duration: 24
Credit: $27
Buying power reduction: $73
Profit: +$13
Fees: $2.58
Profit after fees: $10.42
Profit as a percentage of buying power reduction: 14.2%

That brings this cycle’s record to 4 winners and 5 losers; Down -$151 (-7.7%) over the high water mark. Tomorrow is the last day of the cycle and I report on May 20th. This will be my second report.

 

 

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”

Options Portfolio Update: No position changes – FXE to the moon!

I have until Friday to make any closing trades for this cycle. Today there  were no position changes.

1 day stock market chart 5-17-16

The market started up then came back down staying slightly down but mostly unchanged through the close of the bell; The Nasdaq remained higher for the day closing strong..
The story of the day was the weak dollar; This hurt my FXE iron condor – wiping out $21.50 in value  / the position is now down $6.50 from being up almost $15 yesterday. Continue reading “Options Portfolio Update: No position changes – FXE to the moon!”