Microscopic option selling

Discussion in 'Journals' started by deltazero, Dec 1, 2013.

  1. Account value $2781
     
    #41     Jan 14, 2014
  2. Account value $2802
     
    #42     Jan 15, 2014
  3. Account value $2786.
    CLF:
    Short options expire tomorrow. 23 put costs $27, which is more than 1% in underlying's move. Also, my call has strike 25, I don't think it will get ITM tomorrow. I decided to keep my put. If I call had strike 23 with risk of going ITM, I would roll today.
     
    #43     Jan 16, 2014
  4. Account value $2707, main reason for loss is falling value of 30 Jan16 call (current loss -$692).
    I rolled my CLF short options to JanWk4, strike 23.
     
    #44     Jan 18, 2014
  5. I rolled my call down to 21.
    Account value $2702
     
    #45     Jan 21, 2014
  6. What was your reasoning for using CLF for this strategy?

    Also what was the IV:HV when you started?
     
    #46     Jan 21, 2014
  7. Account value $2679
     
    #47     Jan 22, 2014
  8. CLF: Right price so I could use it with my small account. Also weekly options available.
    IV:HV: Not important as I'm not trying to predict anything.
     
    #48     Jan 23, 2014
  9. Account value $2728
     
    #49     Jan 23, 2014
  10. Account value $2702. Rolled short calls to 19.5 JanWk5, sold long 27 Put.
     
    #50     Jan 24, 2014