STO 2840 Put at 52 DTE yesterday and closed it today for a 58% profit of $334.38. How does Daddy do it? Account up 0.28% for the new year with a projected return of $120.04% for the year. Wow, I really missed you guys! Happy trading, Sweet Bobby
I sold a strangle today in ES 3400C/2980P with 51 DTE. Brought in a credit of $759. I learned about strangles from a little place called Tastytrade. Let’s see if it works!
I sold the 3390 Call at 43 DTE to give me a little short delta. Projected return in the portfolio is now at 60.02%.
I need some more negative deltas to keep the ship in line so I sold the 3360 Call with 43 DTE. That should do it for the day. Portfolio is up 0.30% on the year.
Thinking out loud here. I maintain negative deltas which seems bad when the market goes up. But, when the market moves upward, portfolio gains more short delta. Then the short puts close for a profit and the portfolio loses their long delta and portfolio becomes even shorter delta. Then, my move is to sell more puts to stabilize the delta, even though the market is going up. This contrasts with what Karen was doing. She would sell calls when the market went up and puts when the market went down. Silly Karen, you can’t live entirely by the analyze tab. You have to constantly monitor your Greeks, especially Delta!
The portfolio is up 0.58% for the year with a projected return this year of 42.25%. I put a fat fingered trade on today by mistake and actually closed it for a profit of $18.70. When you’re the super trader, those bounces usually go your way. I am carrying negative deltas i to the weekend, sufficient to cover me in the event of the elusive Black Swan. Y’all have a great weekend!
I’m up 2.38% this year. I’ve been very conservative and I’m only using 19% of my buying power. My Greeks are pretty much in line and I continue to carry negative delta. Tomorrow I will begin to rev things up as I would like to achieve 46% return this year. I’m also going to increase contract size to achieve better scale. I’m also keeping with my goal of adding one new trade each day. By adding a trade I am able to adjust my Greeks. Happy Trading!