Swing trading with Butterflies

Discussion in 'Journals' started by Global OptionsTrades, Jul 30, 2021.

  1. Opened a Calendar for this week.

    Trade date: 11 July 2022
    Security: SPX
    Price at opening: 3859.0
    Direction: Put
    Expiry date (short side): 15 July 2022
    Implied Vol (short side) 26.2%
    Expiry date (long side): 18 July 2022
    Implied Vol (long side) 23.8%
    Strikes: 3805
    Opening Spread: 5.00

    It looks like the long legs from Calendars last week (#218) will expire worthless for 100% loss on both of those.
     
    #221     Jul 11, 2022
  2. S&P fell through this and I bottled out yesterday, moving outstanding closing orders inwards to take profit early.

    Trade date: 11 July 2022
    Security: SPX
    Price at opening: 3859.0
    Direction: Put
    Expiry date (short side): 15 July 2022
    Implied Vol (short side) 26.2%
    Expiry date (long side): 18 July 2022
    Implied Vol (long side) 23.8%
    Strikes: 3805
    Opening Spread: 5.00
    Close date: 14 July 2022
    Trade duration: 3
    Closing spread: 7.00
    Profit / (Loss): 2.00
    Profit / (Loss): 40.0%
     
    #222     Jul 15, 2022
  3. Opened this earlier today.

    Trade date: 19 July 2022
    Security: SPX
    Price at opening: 3904.9
    Implied Vol 25.3%
    Direction: Put
    Expiry date: 22 July 2022
    Strikes: 3810 / 3840 / 3900
    Structure: 2 / 3 / 1
    Opening Spread: 7.10
     
    #223     Jul 19, 2022
  4. ...and a Calendar position on Nasdaq filled towards the end of the session.

    Trade date: 19 July 2022
    Security: NDX
    Price at opening: 12136.7
    Direction: Put
    Expiry date (short side): 22 July 2022
    Implied Vol (short side) 33.2%
    Expiry date (long side): 25 July 2022
    Implied Vol (long side) 27.6%
    Strikes: 11950
    Opening Spread: 20.50
     
    #224     Jul 20, 2022
  5. Not the best trade (#223) to have held through a rising market.

    Trade date: 19 July 2022
    Security: SPX
    Price at opening: 3904.9
    Implied Vol 25.3%
    Direction: Put
    Expiry date: 22 July 2022
    Strikes: 3810 / 3840 / 3900
    Structure: 2 / 3 / 1
    Opening Spread: 7.10
    Close date: 22 July 2022
    Trade duration: 2.27778287
    Closing spread: -
    Profit / (Loss): -7.10
    Profit / (Loss): -100.0%
     
    #225     Jul 23, 2022
  6. The Nasdaq Calendar (#224) expired worthless for 100% loss.

    Added a couple of positions yesterday, a calendar on RUT and a fly on SPX.

    Trade date: 26 July 2022
    Security: RUT
    Price at opening: 1798.0
    Direction: Put
    Expiry date (short side): 29 July 2022
    Implied Vol (short side) 37.4%
    Expiry date (long side): 01 August 2022
    Implied Vol (long side) 30.0%
    Strikes: 1770
    Opening Spread: 2.63

    Trade date: 26 July 2022
    Security: SPX
    Price at opening: 3923.7
    Implied Vol 30.5%
    Direction: Put
    Expiry date: 29 July 2022
    Strikes: 3810 / 3850 / 3930
    Structure: 2 / 3 / 1
    Opening Spread: 9.33
     
    #226     Jul 27, 2022
  7. I don't like to load exposure on one security and direction but opened another fly position on Spooz today.

    Trade date: 28 July 2022
    Security: SPX
    Price at opening: 4,001.9
    Implied Vol 19.6%
    Direction: Put
    Expiry date: 01 August 2022
    Strikes: 3915 / 3945 / 4005
    Structure: 2 / 3 / 1
    Opening Spread: 5.60
     
    #227     Jul 28, 2022
  8. The S&P fly (#226) expired on Friday at 100% loss.

    Thankfully other net long positions are profitable.

    Opened another calendar position on RUT.

    Trade date: 01 August 2022
    Security: RUT
    Price at opening: 1853.4
    Direction: Put
    Expiry date (short side): 05 August 2022
    Implied Vol (short side) 23.5%
    Expiry date (long side): 08 August 2022
    Implied Vol (long side) 24.0%
    Strikes: 1830
    Opening Spread: 2.08

    Given my recent performance with these, this should guarantee further gains in Russell 2000 this week!
     
    #228     Aug 1, 2022
  9. Adam777

    Adam777

    Hi Global OptionsTrades

    Are you now mainly trading OTM baby flies? It's good to see your returns improved
     
    Last edited: Sep 4, 2022
    #229     Sep 4, 2022
  10. Something isn't that optimal, I would say.
    I wonder how this
    "
    Average profit was 28.3%.
    Average loss was 69.1%.
    "
    can give this:
    "
    Net / aggregate profit was 9.2%.
    "
     
    #230     Sep 4, 2022