SPX trade obviously went against me, almost from inception. I still think it offers decent R/R, but less so than I did at onset. Thankfully, GOOGL, and to a lesser extent AAPL, trades bailed me out once again. A smart person would stop trying to fight the trend, and just take the low hanging fruit. But, I am unburdened by genius, so I'll keep it rolling. Below is summary of open positions, including greeks/Pnl per trade, as well as for total book (Delta/Gamma are beta weighted to SPX);
Oh, well in that case, I cannot lose. I have stop built in! Flattening, reversing, doubling ES position. It’s a turkey shoot!
Hi Doobs789, How does one go about learning to trade in the way that you do? I'm definitely on the newer side of options trading after being introduced to it via the Wheel strategy two months ago(I've been trading equities and index futures directionally for a few years). I see you recommended a few books in a comment ( Hull and Sinclair). Volitility Trading looks very math heavy while skimming through a pdf of it even with a finance degree.
I am long the Feb10/Feb14 3320/3310 put spread from 6.10. It was neutral at the close (+35D/-35D). I just shorted futs here at 53.50.
Really interesting thread @Doobs789 . Thanks for taking the time to share so much with candour. If vol drops off on SPX, you're on for a good week! Probably a numpty question if I may, but what's PF? and