March 2020 – TradingRiverlake

Post mortem, Weekly Trading RecapMarch 8, 2020

New trades/adjustments

Date	3/06
Cycle	Mar/20
Symbol	COST
IVR	78.03
Strategy	IC
Strikes	p:-$280/+$285 c:-$325/+$330
Price	$1.85
PoP	56%

Closed trades

Cycle	Mar/20
Symbol	SPCE
Total open price	$1.42
Close price	$1.24
Multiplier	100
P/L	$18

Daily Scalp

Date	03/02/20	03/04/20	03/06/20	03/02/20
Symbol	SPX	SPX	SPX	NDX
Strategy	IC	IC	Cr – C	IC
Strikes	p:-$3080/+$3075 c:-$3040/+$3045	Multiple	-$3020/+$3025	Multiple
Price(o/c)	$215/$500	$370/$1000	$55/0	$510/-$2000
P/L	-$285	-$630	$55	-$1490
Trigger	Another huge move day! Early on the day SPX jumped up 2% so I thought ~4% is safe, however market proved me wrong.	Market jumped again almost 4%! and my IC got wrecked.	I finally started to trade the same direction as the market! Early I saw almost down 2% and set the call spreads at the high of the day.	This is a disaster! Obviously I got greedy and traded too big! 2x $20 spreads! with SPX on at the same time, same direction! I did all I can to save the trade but couldn’t.

P/L Change

P/L Week: -$1822
P/L Year: +3012.5$(50.2%), including rolls and $1000 deposit($6k as base)
Total commission & fees: $770.48
P/L Year w/fees: $2242.02(37.367%)

With volatility expanding I got seriously hurt! I also made bad trades on scalp which give back all my gains this year! I also have to deposit more money to save my current positions. Not sure what I can do other than wait and hope volatility comes down, and with no enough capital to trade, I don’t know how or even if I want to put down more trades, although I know IV is high.

The fear on Coronavirus seems to be down a little, however panic selling continues and Fed rate cut didn’t work. I’ll probably start to invert some of my positions to cut loss.

Right now it does seem that adding static delta is a good idea, so I want to trade more daily expiration. However what I learned is that with violent move early during the day and super high IV, maybe I should trade the same market direction instead of fighting it?

Weekly Trading RecapMarch 3, 2020March 3, 2020

Week 9 P/L

New trades/adjustments

Date

02/27

02/24

02/27

02/26

02/25

2/28

2/27

2/28

Cycle

Mar/20

Mar/17

Mar/20

Apr/27

Mar/20

Apr/17

Mar/20

Symbol

TLT

AMD

AAPL

SMH

AAL

SPCE

APT

AMZN

/CLJ0

MSFT

/NGK0

SMH

TSLA

DIS

UVXY

IVR

104

Strategy

Strangle

Short C

Cr – P

Long put

Strikes

p:-$145/+$140
c:-$155/+$160

p:-$50/+$45 c:-$55/+$60

p:-$295/+$290
c:-$305/+$310

p:-$135/+$130 c:-$140/+$145

p:-$23
c: -$26

p:-$20/+$15
c:-$45/+$50

-$15

p: -$2000/+$1990
c: -$2030/+$2040

p:-$47/+$48 c:-$52/+$53

p:-$160/+$155 c:-$180/+$185

-$1.7/+$1.8

p:-$135/+$130 c:-$140/+$145

p:-$500/+$495 c:-$955/+$960

p:-$110/+$105 c:-$140/+$145

$16

Price

$1.1

$1.62

$2.25

$2.58

$1.9

$1.42

$1.5

$5.22

$0.35

$1.22

$0.29

$2.58

$1.05

$.93

-$0.89

PoP

43%

86%

71%

68%

25%

Closed trades

Cycle	Feb/25	Mar/06	Mar/26	Mar/20
Symbol	/NGH0	/6EH0	/NGJ0	VXX
Total open price	$.54	$0.0009	$.24	$1.61
Close price	$0.09	$0.0004	$0.1	$.2
Multiplier	1000	125000	1000	100
P/L	$450	$62.5	$140	$140

Daily Scalp

Date	02/24/20	02/26/20	02/26/20	02/28/20	02/28/20
Symbol	SPX	SPX	NDX	NDX	SPX
Strategy	IC	IC	IC	IC	IC
Strikes	Multiple	Multiple	Multiple	Multiple	Multiple
Price(o/c)	$200/$0	$100/$0	$1148/0	$506/$901	$375/750
P/L	$200	$100	$1148	-$395	-$375
Trigger	Huge move every day! Tried to scale when IV is high with selling 2 quantity.	Huge move again on Wednesday, was betting a reversal on Tuesday, so sold put part early.	Again scaled in with 3 quantity! Super risky but somehow got lucky.	Was betting a reversal by selling put early but didn’t get the move so managing all day…	Was betting a reversal by selling put early but didn’t get the move. Got messed up by the last 3 minutes rally caused by short cover!

P/L Change

P/L Week: $792.5
P/L Year: +5344.5$(106.89%), including rolls
Total commission & fees: $674
P/L Year w/fees: $3558.06(93.41%)

This week is absolutely crazy! I was honored to witness the fastest 10% fall and daily movement was all over the place! I was not too mad about myself since I have been mechanical and balancing delta and I really got my 1st big down day on Thursday. However short delta is not enough and I got hurt by vol expansion. Many positions are in mgmt mode.

I did learn a big lesson on scalping: when market in panic mode, don’t trade early or too big, and keep enough buying power! Don’t break rules by putting on trades -1 day since overnight move is too great.