Turning Silver into $$: Shortie's Hedge Fund Trades SLV Option Spreads

Discussion in 'Journals' started by shortie, May 23, 2011.

  1. added 2 Short Units ~36.10. They are 36/38 Call spreads. These are meant as the replacement for the old Short Unit. Will take those away at more favorable price level.
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    #21     Jun 7, 2011
  2. Covered 2 old Short Units ~35.8. Now will wait again for a good price level to continue my work of fixing "the Box".
    PL +24 (19 unrealized, 5 realized)
    4 Long Units
    4 Short Units
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    #22     Jun 8, 2011
  3. Covered 2 old Long Units ~36.3. Now will wait again for a good price level to continue my work of fixing "the Box".
    PL +4 (-30 unrealized, +34 realized)
    2 Long Units
    4 Short Units
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    #23     Jun 9, 2011
  4. Covered 2 NEW Long Units ~35.45. So I still have half of my original "Box" left. Closed the newer unit because I have a slight short bias and decided that the older unit has more premium to burn. I am catching the turns now so PL is going up. I am yet to build my first iron condor in this journal :)

    PL +77 (-2 unrealized, +79 realized)
    2 Long Units
    2 Short Units

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    #24     Jun 10, 2011
  5. Caught a couple of turns yesterday. The end results is that I have 1 Short Unit. Technically, I also have 2 Long Units via Put spreads but the strikes are both in the money so they balance each other.

    Not happy with the journal so far. What I had in mind was to have a simple set of rules that lets me keep track of my spreads and risk exposure without any need of the complicated stuff such as Greeks. In reality everything got very confusing. I need to re-think what I am doing. Busy with other stuff right now.

    On the bright side, the spreads have been making some $$.
    PL +64 (-130 unrealized, +194 realized)
    (2 Long Units)
    1 Short Unit
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    #25     Jun 14, 2011
  6. Since you got out of that box, you made around $70 net increase?
     
    #26     Jun 14, 2011