From $1000 to ? Trading SPX Weeklys in my Roth

Fatality rate DOES NOT MATTER. It is the number of new infections that matters to the markets.

 

I guess I'm looking past that. New infections will fuel the panic then fatality rate will calm them down. The economic impact will be enormous either way.

 

Here's the numbers:

https://www.worldometers.info/coronavirus/

 

TradeTheory,

why did you open 2 separate bear put spreads in the $SPY? its almost like a long put condor

 

My mindset here was to add some bearish trades to offset what I paid for on the SPX call butterfly. I added one put spread on the open then 2 hours later SPY popped up a bit. I figured the pop would be short lived so I wanted one other put spread at a higher price. I was thinking of them as 2 separate trades.

Trade 14 Closed:
tIP SOLD -1 VERTICAL SPY 100 20 MAR 20 250/248 PUT @1.83 CBOE

+$94.98

Trade 17 Open:
BOT +1 BUTTERFLY SPY 100 (Weeklys) 23 MAR 20 215/210/202 PUT @.02 CBOE


This one is a broken wing butterfly expiring on Monday, slightly wider leaving me with $302 of risk total. Thought process is if we hit limit down 5% or 7% on Monday, this fly will be centered and worth quite a bit. If we rally, expires worthless and I'm out $2 premium. If we absolutely tank over the weekend 10% percent, I'll likely lose a little money on the trade.

Starting Balance: $1001.75
Current Balance: $1786.55
Cumulative PnL: $784.8 = Account up 78.34%

 

Can't forget this gem: Trade 12 dead, -$122.08

Starting Balance: $1001.75
Current Balance: $1664.47
Cumulative PnL: $662.72 = Account up 66.16%

 

Small win on trade 17: +$33.84

SOLD -1 BUTTERFLY SPY 100 (Weeklys) 23 MAR 20 215/210/202 PUT @.40 CBOE
+$33.84

Starting Balance: $1001.75
Current Balance: $1698.31
Cumulative PnL: $696.56 = Account up 69.53%

 

IV30 is about to cross HV. Does this mean you stop your flies for a while?

 

Why are you trading so little size when your ROC is so high? What am I missing?

 

Trading in this account is a way to challenge myself and work on improving strategies that have already proven to be successful. The alluring thing about trading the S&Ps is it’s easy to scale up. That same trade could have been done 10x the size by trading a 1 lot in the SPX. Not to mention it’s the most liquid product in the market bar none. I have my own motives for making only this account public, but just about every trade I place here is being replicated either in larger size or quantity in my other accounts.