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?