Option Trading Journal.

Started trading on 30/12/2016 Last day in 2016.
My Capital 6000 $ US
Broker - TD Ameritrade (Canada)
Platform -TOS
Commission 1.25$ per leg, 5$ minimum.

Will post my trades as I progress, with comments when applicable, this journal mainly to track my profit/loss and to discuss my strategy with traders to improve my result.

 

30/12/2016 :SELL -1 IRON CONDOR NVDA 100 17 FEB 17 155/175/80/60 CALL/PUT @1.59
Cash Balance 6153.98

 

4/1/2017 :SELL -1 IRON CONDOR NFLX 100 17 FEB 17 160/170/100/90 CALL/PUT @1.06
Cash Balance 6254.98

 

4/1/2017 :SELL -1 IRON CONDOR MOS 100 17 FEB 17 36/38/25/23 CALL/PUT @0.23
Cash Balance 6272.98

 

Paying $5 × 4 legs == $20, or $5 total? Either way, it's insane versus a $23 gross credit. "Risk without reward." Also, your net liq value is the key number, not cash balance.

 

Commission is 5$ for the 4 legs.
I aim at 90% OTM, to make 2-3% per month if possible, then I will see how this will go.
Will include NetLiq as well.
Thank you for your comment.

 

5/1/2017 SELL -1 IRON CONDOR M 100 17 FEB 17 34/38/24/22 CALL/PUT @.50
Implied Volatility = 39%
Net Liq=5981
Cash Balance 6317

 

That's how I calculate: 18$ (NET)/Margin required or BP =18/200=9% per 43Days.
Will try to close position before expiry.
Will be happy with 2-3% per month.
I Agree that more expensive stocks are better.

 

So you're netting $18, paying $5 in commish and $10- 20 in bid/ask. The playing field is tilted too much. You won't be able to afford the occasional blowups.

 

6/1/2017-No trade.
Net Liq=6027.42