7/29: SPY: -$6,066 hedge: $1,360.68 Net: -$4,705.32 (unrealized) +$1,223.60 (realized) -------------------- -$3,481.72 That doesn't include the $1,130 or so dividend that is going to be paid for my SPY position soon. Next long entry point is still $124.10.
Mostly because I felt like it. I cannot predict where price is going to go so I never know when the best time is to close it. Back on 6/15 the hedge was up around $5,379. I should've closed it then. But I didn't know if it was going to keep going up or down or what. Plus, I moved and we had those big up days in a row and my SPY position was way up in a matter of days. There's no way of knowing how big of swings price is going to make. I'd rather close it for a bit of profit than for a loss. I mean, it really doesn't matter, though. I will end this trade net profitable no matter where price goes and no matter when I close the hedge, so any positive hedge profit is extra bottom line profit in the end. I'm thinking actually maybe I should make my next buy point at the 100 line of where I originally drew the first fib lines. I'd be buying some soon, and it would lower my average close sooner than waiting to see if price hits $124.10 where my next buy line is. And then I could potentially lower the profit target cuz who knows when price is going to get back up to $137 where my current sell area is? Or maybe I should just ask one of those people who claims to be able to predict price. edit: If I were to buy 1,400 @ $128.50, that would put my average cost at around $130.86. So then I could make the target profit 133 or so for a net of $6,848 from the SPY, plus the $1,223 from the hedge, plus whatever is left of the hedge, plus the $1,130 dividend. Of course, if I do that, then SPY will probably go to 137 the following day. Cuz that's how it works
Dividend was paid yesterday. 1,800 shares @ .62762 = $1,129.72 As of 7/30: Open positions: SPY: -$6,066 hedge: $1,360.68 Net for this trade: -$4,705.32 (unrealized) +$1,223.60 (realized) +$1,129.72 (dividend) -------------------- -$2,352
8/1: SPY: -$7,056 Hedge: $1,560.09 Net for this trade: -$5,495.91 (unrealized) +$1,223.60 (realized) +$1,129.72 (dividend) -------------------- -$3,142.59
long 1,400 @ $127 today. SPY position 3,200 shares @ avg cost of $130.21 Also bought back another 1172 shares of SH (the same amount I just sold a few days ago when I closed half the hedge) @ $42.38 for the hedge.
8/2: SPY: -$15,104 Hedge: $3,417.64 Net for this trade: -$11,686.36 (unrealized) +$1,223.60 (realized) +$1,129.72 (dividend) -------------------- -$9,333.04
Hammer outta nowhere! 8/3: SPY: -$12,928 hedge: $2,854.84 Net for this trade: -$10,073.16 (unrealized) +$1,223.60 (realized) +$1,129.72 (dividend) -------------------- -$7,719.84