Karen the Supertrader - TastyTrade Hybrid Experiment

Discussion in 'Journals' started by Sweet Bobby, May 18, 2016.

  1. I think the fact that they are naked rather than spread means they exploded pretty well. Vols did jump from 17 to 22 and OTM puts are skewed higher so there has to be some serious heat being taken today....

    But sizeof these positions appear small so doubt the damage is worse than simply giving back a lot of profit.
     
    #331     Jun 24, 2016
  2. Pekelo

    Pekelo

    The regular hours move wasn't even that drastic, we are down only 3+%, so there shouldn't be such a huge loss. Stop teasing us!
     
    #332     Jun 24, 2016
    Sweet Bobby likes this.
  3. F_488

    F_488

    Bobby your ba&$£ must be made of steel. When London opened I thought things were going to be worse than they are. Hope you haven't taken a big hit. I reckon your Net Liq is at $148K.
     
    #333     Jun 24, 2016
    Sweet Bobby likes this.
  4. Day aint over yet..but even if he did 10 strangles the loss is just eating into already acumulated profits plus some capital...
     
    #334     Jun 24, 2016
    Sweet Bobby likes this.
  5. What a great day of trading. All of my trades have been posted on my spreadsheet. Most of my activity has been my GTC orders triggering taking profits at 50%. No GTC orders were triggered taking a loss. I did mechanically close one trade at a $92 loss after 24 days in the trade. My total realized profit for the day is $513.

    I was set up perfectly ( according to my parameters only) going into the Brexit vote. My delta was at a 1/2 ratio to my delta.

    I put on one new trade today - a short put in SPY. Of course, my Greeks are way out of line but I now begin the daily process of chipping away to get things back in order.

    Net liq right now is at about $149,500.

    I am selling "I Survived Brexit" t-shirts for $19.99. PM me your size.

    Happy trading!

    Bobby
     
    #335     Jun 24, 2016
    F_488 likes this.
  6. F_488

    F_488

    Net Liq of $149,500 is a right result. I bet when you heard the news you thought the losses would be greater. Those Brexit T-Shirt are a bit cheap at $19.99.
     
    #336     Jun 24, 2016
    Sweet Bobby likes this.
  7. When I heard the news, I instantly went to the analyze tab to see where I stood. The account was well in line with my stress parameters.

    The exit has brought about increased volatility in the market which I certainly welcome. It is a great day to sell premium.
     
    #337     Jun 24, 2016
  8. i960

    i960

    So on a 150k account you've gained basically 1.7% in 3 months with a strategy that can kill you when things heat up. How you think you're going to return 25-36% annually here, particularly when the market context changes, is beyond me.
     
    #338     Jun 24, 2016
  9. Maverick74

    Maverick74

    Bobby, I need to offer some advice here though and I do speak from experience. It's very dangerous to look at your p&l as a reflection as to whether this strategy held up or survived. As I said before, the long term historical mean on the VIX is 20. We're at 25. Yes, we had a large drop overnight but it was just one night, not 30 day of straight selling like we have had before. At the end of the day, you are 3 months in to this experiment and all the money you made over 60 trading days was lost in one overnight session.

    Let me give a better example. If you simply bought SPY back in April and held it through thick and thin, you know how much you would be down right now? Zero. Both strategies are simply long risk and extracting the given risk premium that is offered to everyone on this forum if they should so choose to accept it. It comes with a given sigma for sure, but it's available. The question you need to ask yourself is, are you better off simply being long SPY and not generating taxable events on a daily basis along with commissions if you can earn the same return just being long risk. And to add to that, spend more quality time with family or pursuing other things. It's just a question only you can answer and your answer is none of my business, I'm simply trying to provide just objective perspective here. The goal of trading should not be merely to "survive" but to prosper and to do so irrespective of all other opportunity costs.
     
    #339     Jun 24, 2016
  10. Sweet Bobby must be feeling rather sour :p:vomit: -- I know I would be, with that performance.
     
    #340     Jun 24, 2016