Category: Weekly Trading Recap

When scalp goes wrong – Week 10

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New trades/adjustments

Date3/06
CycleMar/20
SymbolCOST
IVR78.03
StrategyIC
Strikesp:-$280/+$285 c:-$325/+$330
Price$1.85
PoP56%

Closed trades

CycleMar/20
SymbolSPCE
Total open price$1.42
Close price$1.24
Multiplier100
P/L$18

Daily Scalp

Date03/02/2003/04/2003/06/2003/02/20
SymbolSPXSPXSPXNDX
StrategyICICCr – CIC
Strikesp:-$3080/+$3075 c:-$3040/+$3045Multiple-$3020/+$3025Multiple
Price(o/c)$215/$500$370/$1000$55/0$510/-$2000
P/L-$285-$630$55-$1490
TriggerAnother 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?

I’m honored to witness the great panic – Week 9

Week 9 P/L

New trades/adjustments

Date02/2702/2402/2702/2702/2602/2502/252/282/272/272/272/272/272/272/28
CycleMar/20Mar/20Mar/20Mar/20Mar/20Mar/20Mar/20Mar/20Mar/17Mar/20Apr/27Mar/20Apr/17Apr/17Mar/20
SymbolTLTAMDAAPLSMHAALSPCEAPTAMZN/CLJ0MSFT/NGK0SMHTSLADISUVXY
IVR626710498
StrategyICICICICStrangleICShort C ICICICCr – PICICICLong put
Strikesp:-$145/+$140
c:-$155/+$160		p:-$50/+$45 c:-$55/+$60p:-$295/+$290
c:-$305/+$310		p:-$135/+$130 c:-$140/+$145p:-$23
c: -$26		p:-$20/+$15
c:-$45/+$50		-$15p: -$2000/+$1990
c: -$2030/+$2040		p:-$47/+$48 c:-$52/+$53p:-$160/+$155 c:-$180/+$185-$1.7/+$1.8p:-$135/+$130 c:-$140/+$145p:-$500/+$495 c:-$955/+$960p:-$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
PoP43%86%71%68%25%

Closed trades

CycleFeb/25Mar/06Mar/26Mar/20
Symbol/NGH0/6EH0/NGJ0VXX
Total open price$.54$0.0009$.24$1.61
Close price$0.09$0.0004$0.1$.2
Multiplier10001250001000100
P/L$450$62.5$140$140

Daily Scalp

Date02/24/2002/26/2002/26/2002/28/2002/28/20
SymbolSPXSPXNDXNDXSPX
StrategyICICICICIC
StrikesMultipleMultipleMultipleMultipleMultiple
Price(o/c)$200/$0$100/$0$1148/0$506/$901$375/750
P/L$200$100$1148-$395-$375
TriggerHuge 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.

Market feels heavy, added trades – Week 8

Week 8 – P/L

New trades/adjustments

Date02/2002/2102/1802/1802/1802/1802/1802/1802/1802/1902/2002/2102/21
CycleFeb/21Feb/21Mar/20Mar/20Mar/17Mar/26Mar/06Mar/20Mar/20Mar/26Feb/25Mar/20Mar/20
SymbolTSLATSLAAAPLAMZN/CLJ0/NGJ0/6EH0AMDSPCE/GCJ0/NGH0MSFTSMH
IVR43392949511003710072
StrategyIFCr – CICCr – CICCr – CCr – PICCr – CCr – C ICICIC
Strikesp:-$850/+$845
c:-$850/+$855		-$910/+$915p:-$295/+$290
c:-$340/+$345		-$2320/+$2330p:-$47/+$48 c:-$57/+$58-$2.05/+$2.15-$1.08/+$1.0775p:-$50/+$45 c:-$65/+$70-$45/+$50-$1665/+$1675p:-$1.85/+$1.75
c:-$1.9/+2.0		p:-$160/+$155 c:-$195/+$200p:-$135/+$130 c:-$157/+$162
Price$4.53$0.43$1.16$1.28$.26$.24$.0009$1.00$.72$1.3$.54$.74$1.09
PoP64%68%70%61%67%70%80%74%%68

Closed trades

CycleFeb/21Feb/21Feb/21Mar/20
SymbolTSLATSLATSLAAAPL
Total open price$2.85$4.53$.43$1.03
Close price$5.01$4.91$0$.54
Multiplier100100100100
P/L-$216-$38$43$49

Daily Scalp

Date02/19/2002/21
SymbolNDXSPX
StrategyCr – CCr – P
Strikes-$9750/+9760-$3320/+3315
Price(o/c)$118/$0$55/$0
P/L$118$55
TriggerNDX had a big gap up early during the daySPX had a big drop early during the day

P/L Change

  • P/L Week: $11
  • P/L Year: +$3807(76.14%), including rolls
  • Total commission & fees: $505.08
  • P/L Year w/fees: $3558.06(66.04%)

I left money on the table for /cl, but it’s okay – Week 7

Week 7 P/L

New trades/adjustments

Date02/1102/1102/1102/1102/13
CycleFeb/25Feb/14Mar/20Feb/21Mar/20
Symbol/NGH0/CLH0AMZNTSLAROKU
IVR70
StrategyICICCr- PICIC
Strikesp:-$1.8/+$1.7
c:-$1.9/+2.0		p:-$52/+$51 c:-$52/+$53-$2000/+$1990p:-$715/+$710 c:-$850/+$855p:-$100/+$95 c:-$180/+$185
Price$0.45$0.47$1.85$3.51$1.05
PoP76%

Closed trades

CycleFeb/14Mar/20Mar/20Feb/21Mar/20Mar/17Feb/21
Symbol/CLH0PINSROKUFBUBER/CLJ0TGT
Total open price$.47$1.1$1.05$.99$1.17$.28$2.27
Close price$.35$.55$.55$.34$.59$.14$1
Multiplier10001001001001001000100
P/L$120$55$50$65$58$140$127

Daily Scalp

Date02/12/20
SymbolNDX
StrategyCr – C
Strikes-$9630/+9640
Price(o/c)$95/$0
P/L$95
TriggerNDX had a big reversal, so betting that it should exhaust itself.

P/L Change

  • P/L Week: $710
  • P/L Year: +$3969(79.38%), including rolls
  • Total commission & fees: $410.95
  • P/L Year w/fees: $3558.06(71.16%)

TSLA madness – Week 6

Week 6 P/L

New trades/adjustments

Date02/0302/0402/0502/0502/0402/0602/06
CycleFeb/21Feb/21Mar/20Feb/14Feb/21Mar/20Mar/20
SymbolTSLATSLAAMZN/CLH0DISPINSUBER
IVR100100
StrategyIFICICICCr – PStrangleStrangle
Strikesp:-$625/+$620
c:-$625/+630		p:-$715/+$710 c:-$1170/+$1180p: -$1930/+$1920
c: -$2030/+$2040		p:-$52/+$51
c:-$53/+$54		p:-$135/+$130p:-$18
c:-$28		p:-$32
c:-$44
Price$2.85$2.63$4.51$0.35$0.75$1.1$1.17
PoP21%16%78%75%

Closed trades

CycleFeb/21
SymbolDIS
Total open price$.75
Close price$0.3
Multiplier100
P/L$45

Daily Scalp

Date02/03/2002/05/2002/07
SymbolSPXNDXNDX
StrategyCr – CIC – LCr – C
Strikes-$3280/+3290Multiple-$9480/+9490
Price(o/c)$55/$0$8.66/$2.52$103/$0
P/L$55$614$103
TriggerSPX had a big jump the first hour of trading, betting it won’t go up to 2%./NQ had a huge run on Tuesday so started the trade earlier than usual… which turned out to be very risky since Wednesday morning /NQ continued to run up almost 1%! Had to adjust 10 minutes after opening, which is not a good sign either. Finally had to fight the trade all day long and putting 2 of the $10 trades to get credits. After a long tiring fight, I got lucky since the close price almost pinned at my Iron Fly. Looking back my original trade should have worked just fine. Another big lesson to stay with my rules!/NQ has a rally of almost 1% since opening, so betting the price won’t go up more than the resistance line.

P/L Change

  • P/L Week: $817
  • P/L Year: +$3106(62.12%), including rolls
  • Total commission & fees: $357.34
  • P/L Year w/fees: $2748.66(54.97%)

Unrealized loss racks up as earning trades go south – week 5 recap

Week 5 P/L

New trades/adjustments

Date01/2801/2901/3001/3001/3001/30
CycleFeb/21Mar/20Feb/21Feb/21Mar/17Mar/20
SymbolAAPLAAPLFBTSLA/CLJ0AMZN
IVR425560
StrategyBWB – CICICICICIC
Strikesc:-$340 * 2
c:+$337.5/+$345		p:-$290/+$285 c:-$355/+$360p: -$205/+$242.5
c: -$222.5/+$225		p:-$580/+$575
c:-$625/+630		p:-$44/+$45
c:-$59/+$60		p:-$1690/+$1700
c:-$2030/+$2040
Price$.3$1.03$0.99$2.5$0.28$3.04
PoP79%60%35%20%69%64%


Closed trades

CycleFeb/21Feb/21Feb/21
SymbolAAPLMXBI
Total open price$0.3$1.07$.94
Close price$0.12$.72$.76
Multiplier100100100
P/L$18$35$18


Daily Scalp

Table

Date01/27/2001/27/2001/29/2001/31/20
SymbolSPXNDXNDXNDX
StrategyCr – PCr – PCr – CIC – L
Strikes-$3225/+3215-$8810/+8800-$9160/+$9170Multiple
Price(o/c)$60/$0$150/$30$86/$0$314/0
P/L$60$120$86$314
TriggerSPX opened sharply lower as a continuation of last Friday’s drop, had a contrarian bet on the market. Break even is below the low opening of the day.Similar bet to SPX, but actually traded Wednesday cycle since Monday NDX is not available. Was luck to closed in on Tuesday.NDX had an early up move to 0.8%, placed call spread on gap fill of previous high resistance line. NDX was down 2%, which is really rare, so scaled into fear and legged into IC

P/L Change

  • P/L Week: $651
  • P/L Year: +$2041(40.82%), including P/L for FB, TGT and TSLA rolls
  • Total commission & fees: $291.56
  • P/L Year w/fees: $1749.44(34.99%)

Jan Recap

This month is a great start and I’ve made a lot of money on paper. What I did right is 1) always keeping 40% of cash on hand of scalp and adjustment. 2) Use longer date cycles for earnings 3) defined risk for earnings. What I incurred too much risk is 1) With volatility rising, many trades have gone to the wrong direction, 3 out of 4 earning trades are outside the expected range… Will try to defend them and survive!

Volatility is back – in a sad way – Week 4

Week 4 P/L

New trades/adjustments

Date01/2101/2101/2101/2201/24
CycleFeb/21Feb/25Feb/21Feb/14Mar/20
SymbolTGT/NGH0NFLX/CLH0VXX
IVR33.929.7825
StrategyIC – LICCr – CCr – PCr- P
Strikesp:-$115/+$110 c:-$120/+$125p:-$1.8/+$1.7 c:-$2.0/+$2.1-$380/+$385-$52/+$51-$14
Price$2.27$.39$0.79$0.1$1.61
PoP41%46%50%62%

Closed trades

CycleJan/28Feb/21Feb/14
Symbol/GCG0NFLXVXX
Total open price$1.6$.79$1.13
Close price$0.8$.24$.97
Multiplier100100100
P/L$80$55$16

Daily Scalp

Date01/22/2001/24/20
SymbolNDXNDX
StrategyIC – LIC – L
Strikesp: -$9180/+9170
c: -$9250/+9260		Multiple
Price(o/c)$2/$0$7.53/$2.94
P/L$200$459
TriggerNDX had a 0.8% move to the upside so I entered call side first, then added put side to collect more premiumBecause of the Coronavirus news market has high probability to fall from record highs, however added put side too early! for the whole day I was fighting with market down trend as I added more trades and premium! At some point I had $20 spreads! Finally the market showed me some pocket money for the new year!

P/L Change

  • P/L Week: $810
  • P/L Year: +$1191(23.82%)
  • Total commission & fees: $233.1
  • P/L Year w/fees: $957.9(19.158%)

My first losing trade /CLG0

Week 3 – P/L

New trades/adjustments

Date01/1301/17
CycleFeb/21Feb/25
SymbolTSLA/NGH0
IVR6528
StrategyCr – CCr – P
Strikes-$625/+$630-$1.8/+$1.7
Price$.68$1.5
PoP85%72%

Closed trades

CycleJan/15
Symbol/CLG0
Total open price$0.66
Close price$1.0
Multiplier1000
P/L-$340

Daily Scalp

Date01/13/2001/15/20
SymbolNDXNDX
StrategyCr – cCr – p
Strikes-$9150/+9160-$9010/+$9000
Price(o/c)$1.11/$0$.7/0
P/L$111$70
TriggerNDX had a 1% move on Monday but since option was not available for Monday I chose to trade Wednesday Low risk companion trade since the call side is almost worthless

P/L Change

  • P/L Week: -$159
  • P/L Year: +$381
  • Total commission & fees: $164.35
  • P/L Year w/fees: $216.65

A rollercoaster – week 2

Week 2 – P/L

New trades/adjustments

Date01/0601/0701/0701/0801/10
CycleFeb/21Feb/21Jan/15Jan/28Feb/14
SymbolTGTXBI/CLG0/GCG0VXX
IVR42.83149
StrategyIC – LICIC – RIC – LCr- P
Strikesp:-$115/+$110 c:-$130/+$135p:-$85/+$82 c:-$100/+$103-$60/+$59-$1540/+$1535-$14
Price$1.72$.94$0.2$1$1.13
PoP57%65%62%

Closed trades

CycleJan/28
Symbol/NGG0
Total open price$0.014
Close price$0.007
Multiplier 1000
P/L$70

Daily Scalp

Date01/08/2001/08/2001/10/20
SymbolNDXSPXNDX
StrategyIC – LIC – LIC – L
StrikesMultiple $10 spp:-$3220/+$3215 c:-$3260/+$3265Multiple $10 sp
Price(o/c)$5.9/$10$.95/$0$4.8/$0
P/L-$410$95$480
TriggerNDX had huge swing overnight on Iran news, decided to short it on opening, which turned out to be premature.A companion trade with NDX scalp, but with smaller size.Emotional Trade! No good setup but eventually got lucky!

P/L Change

  • P/L Week: +$235
  • P/L Year: +$540

A green start for 2020

week1-p/l

Week 1 – P/L

New trades this week

Date01/02/2001/02/2001/03/2001/03/20
CycleJan/28Feb/21Jan/15Jan/28
Symbol/NGG0M/CLG0/GCG0
IVR36.74127.946
StrategyCr-P SpStrangleCr-C SpCr-C Sp
Strikes-$1.95/+$1.85$15p/$18c-$66/+$67-$1600/+$1605
Price$0.014 cr$1.07$0.13$0.6
PoP73%63%80%84%
  • /NG: High IV, bullish since it’s been down for long time.
  • M: High IV, price between short term resistance/support, familiar retail stock.
  • /CL: High IV, bearish since it’s been up for so long.
  • /GC: High IV, bearish since it’s been up for so long.

Daily Scalp this week

Date01/03/2001/03/20
SymbolNDXSPX
StrategyIC – legged inCr-P Sp
Strikesp:-$8760/+$8750 c:-$8850/+8860-$3215/+$3210
Price(o/c)$2.5/$0$.55/$0
TriggerNDX down 0.8% within 1 hour tradingSPX down 0.8% within 1 hour trading

P/L change

  • P/L Week: +$305
  • P/L Year: +$305