Tag: SPX

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%)

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!

I violated my rules

Jan 8th 2020 is not a day that I am particularly proud of: I violated my rules and almost blew up my account.

The background is a little complicated: Iran attacked US base in Iraq the night before and futures were down almost 2.5% at some point, and I thought there was no way they’ll bounce back and we might see a -3% day the next day. So I almost ready for scalping from the long side.

However in this wicked world we live in, Nasdaq opened green… I got up early and saw it, I go, how is this possible? Angrily puzzled, naturally I shorted NDX… and SPX, $10 spread and $5, then started my nightmare day, when /NQ is getting greener and greener, and my spread was fully in the money.

Then came the familiar feeling: I had to check the market every 10 second, I felt dizzy and defeated and wanted to close my eyes, and then I started to believe my trades had to work.

Finally I started to manage the position by selling put spread against it and I added to the short position, which at some point was tested too, when /NQ was up more than $100! My account lost almost 50% at the worst time, because my /CL and /GC positions started to go against me too.

Finally the option god heard my pray and the last 15 minutes the market started to reverse, however my $10 spread was closed under the water.

The daily scalp business continued to proved to be just gambling. However something I could do to improve? Stick to the plan!

  • Do not scalp immediately after market opens.
  • Wait for 1% move(in my defense, the market moved from -2.5% to +0.4% when I placed the trades)
  • Do not go too big! Currently $10 spread is still too big for me, especially when other conditions are not ideal.
  • Do not force emotional trades!