Dear trading community,
I did not find enough time to post a sample portfolio update last week.
So here is a look back to my sample portfolio of last week and this week.
Week 33 - Friday August 16 2019:
Inverted Strangle in IWM
On Wednesday, July 31st 2019, I had to roll up my put into a straddle for a credit of $2.35, since my short call got hit. Because of the following sell off I had to defend the position again by rolling down my call for a credit of $2.86 and go inverted.
On Monday, August 5th 2019, I had to roll down my call again for a credit of $2.22.
My overall credit for this position is $11.14.
My profit target for this position hasn't changed, it is still $1.70, so I'm going to close this position when it trades for $9.44 or at 21 DTE.
At the moment this position is down $2.93 ($293 per one lot).
Closing Aggressive Short Delta Strangle in IMW
On Monday, August 5th 2019, I sold this position for a credit of $6.14.
On Wednesday, August 14th 2019, I closed it for a profit of $1.80.
IWM September Short ATM Call
To keep my short deltas in IWM, I sold this one for a credit of $3.97.
Since this is a delta adjustment, I don't have a special management target.
At the moment this position is down 82 cents ($82 per one lot).
TLT Inverted Short Strangle
On Friday, July 26th 2019, I sold a strangle for a credit of $1.91.
On Thursday, August 1st 2019, I had to roll up my put into a straddle for a credit of $1.22, because my deltas got too short.
On Monday, August 5th 2019, I had to roll up my put again and go inverted to the 138 strike for a credit of $1.52.
My overall credit for this position is now $4.65.
Since the most I can make on this position is 65 cents, I'm looking for a scratch, so I'm going to close this position when it trades for $4.65 or at 21 DTE.
At the moment this position is down $7.68 ($768 per one lot).
SPY September Straddle
My overall credit for this position is $10.56.
Since I'm in full defense mode on this position, I'm looking for a scratch in this position.
At the moment this position is down $1.39 ($139 per one lot).
Closing SPY Skewed Strangle
On Monday, August 5th 2019, I sold an atm call for a credit of $7.71 and since the market kept selling off, I added a short 16 delta put for a credit of $2.41
My combined credit on this position was $10.12.
On Wednesday, August 14th 2019, I closed it for a profit of $2.18 ($218 per one lot).
SPY September Call Ratio Spread
I sold this one for a net credit of $3.33 on Wednesday, August 14th 2019, to keep my short deltas.
My profit target is 25% of max profit ($1.83 cents), so I'm going to close this position, when it trades for $1.50 or at 21 DTE.
At the moment this position is down 76 cents ($76 per one lot).
QQQ Synthetic Covered Put
I collected $12.14 in credit for the two atm calls.
My synthetic basis on the covered put is now $177.79, so I have to collect $4.09 more in credit on this position, until I can break even.
At the moment I'm synthetically down $11.03 ($1,103 per one lot).
Coming back...
QQQ September Short Straddle
The overall credit on this position is $8.09.
Since I'm in full defense mode on this position, I'm looking for a scratch in this position or maybe a small profit.
At the moment this position is down $1.70 ($170 per one lot).
QQQ September Call Ratio Spread
I sold this one for a net credit of $1.58 on Monday, August 5th 2019.
My profit target is 25% of max profit ($1.64 cents), so I'm going to close this position, when it trades for a credit of 6 cents or at 21 DTE.
At the moment this position is down 64 cents ($64 per one lot).
GLD September Call Ratio Spread
I sold this one for a net credit of $1.26 on Thursday, August 1st 2019.
My profit target is 25% of max profit (90 cents), so I'm going to close this position, when it trades for 71 cents or at 21 DTE.
At the moment this position is down $3.62 ($362 per one lot).
Defending XLE September 25 Delta Short Strangle
On Monday, July 22nd 2019, I sold a strangle for a credit of $1.40.
On Monday, August 5th 2019, I had to roll down my call into a straddle for a credit of $2.03.
On Thursday, August 15th 2019, I had to roll down my call further for a net credit of $1.52 and go inverted.
My overall credit on this position is now $4.95.
My profit target for this position hasn't changed, it is still 70 cents, so I'm going to close this position when it trades for $4.25 or at 21 DTE.
At the moment this position is down 87 cents ($87 per one lot).
FXE September Short Straddle
On Monday, July 22nd 2019, I sold this position for a credit of $1.85.
My profit target for this position is 45 cents, so I'm going to close this position when it trades for $1.40 or at 21 DTE.
At the moment this position is down 13 cents ($13 per one lot).
Now let's have a look at week 34.
Week 34 - Friday August 23 2019:
Inverted Strangle in IWM
On Wednesday, July 31st 2019, I had to roll up my put into a straddle for a credit of $2.35, since my short call got hit. Because of the following sell off I had to defend the position again by rolling down my call for a credit of $2.86 and go inverted.
On Monday, August 5th 2019, I had to roll down my call again for a credit of $2.22.
My overall credit for this position is $11.14.
My profit target for this position hasn't changed, it is still $1.70, so I'm going to close this position when it trades for $9.44 or at 21 DTE.
At the moment this position is down $4.19 ($419 per one lot).
Closing IWM Short Call
On Wednesday, August 14th 2019, I sold this position for a credit of $3.97.
On Friday, August 23rd 2019, I closed it for a profit of $1.13 ($113 per one lot).
New October IWM Short Call
In this high IV environment, you gotta keep short deltas, so on Friday, August 23rd 2019, I sold this call for a credit of $4.53.
No special profit target.
TLT Inverted Short Strangle
On Friday, July 26th 2019, I sold a strangle for a credit of $1.91.
On Thursday, August 1st 2019, I had to roll up my put into a straddle for a credit of $1.22, because my deltas got too short.
On Monday, August 5th 2019, I had to roll up my put again and go inverted to the 138 strike for a credit of $1.52.
My overall credit for this position is now $4.65.
Since the most I can make on this position is 65 cents, I'm looking for a scratch, so I'm going to close this position when it trades for $4.65 or at 21 DTE.
At the moment this position is down $7.59 ($759 per one lot).
Scratching SPY September Straddle
On Tuesday, August 20th 2019, I was able to scratch this trade. No profit, no loss
Closing SPY September Call Ratio Spread
I sold this one for a net credit of $3.33 on Wednesday, August 14th 2019, to keep my short deltas.
On Friday, August 23rd 2019, I closed it for a profit of 84 cents ($84 per one lot)
New October SPY Aggressive Short Delta Strangle
On Friday, August 23rd 2019, I sold this position for a credit of $10.03.
My profit target for this position is $3.56, so I'm going to close this strangle when it trades for $6.47 or at 21 DTE.
Rolling QQQ Synthetic Covered Put to October
On Friday, August 23rd 2019, I rolled this position out to October for a credit of $1.18.
I also rearranged the calls and the put to get 70 short deltas.
My synthetic basis on the covered put is now $178.97, so I have to collect $2.91 more in credit on this position, until I can break even.
Rolling QQQ September Short Straddle to October
On Friday, August 23rd 2019, I rolled this position out to October for a credit of $3.35.
The overall credit on this position is $11.54.
Since I'm in full defense mode on this position, I'm looking for a scratch in this position or maybe a small profit.
Closing QQQ September Call Ratio Spread
I sold this one for a net credit of $1.58 on Monday, August 5th 2019.
On Friday, August 23rd 2019, I closed this position for a profit of 71 cents ($71 per one lot).
GLD September Call Ratio Spread
I sold this one for a net credit of $1.26 on Thursday, August 1st 2019.
My profit target is 25% of max profit (90 cents), so I'm going to close this position, when it trades for 71 cents or at 21 DTE.
At the moment this position is down $4.63 ($463 per one lot).
New October GLD 30 Delta Strangle
On Friday, August 23rd 2019, I sold this position for a credit of $3.33.
My profit target for this position is $1.60, so I'm going to close this strangle when it trades for $1.73 or at 21 DTE.
XLE Inverted Strangle
On Monday, July 22nd 2019, I sold a strangle for a credit of $1.40.
On Monday, August 5th 2019, I had to roll down my call into a straddle for a credit of $2.03.
On Thursday, August 15th 2019, I had to roll down my call further for a net credit of $1.52 and go inverted.
My overall credit on this position is now $4.95.
My profit target for this position hasn't changed, it is still 70 cents, so I'm going to close this position when it trades for $4.25 or at 21 DTE.
At the moment this position is $1.18 ($118 per one lot).
Closing FXE September Short Straddle
On Monday, July 22nd 2019, I sold this position for a credit of $1.85.
On Friday, August 23rd 2019, I closed this position for a small profit of 2 cents ($2 per one lot).
New October FXB Short Straddle
Since IVR in the British pound is higher at the moment as in the Euro currency, I sold this position for a credit of $4.39.
on Friday, August 23rd 2019.
My profit target for this position is $1, so I'm going to close this strangle when it trades for $3.39 or at 21 DTE.
Books Update
With the completion of my latest book, I have now a trilogy.
The first book is still available for a huge discount on Google Play, so buy as long as it is still cheap.
You can also buy it for $19.99 on iTunes, Amazon or Barnes and Nobel.
Thanks to all my readers for buying it.
If you like it, you would do me a great favor by writing a short review on amazon.
My second book is available for $5.99 on Amazon, Google and on Apple.
Thanks to all my readers for buying it.
If you like it, you would do me a great favor by writing a short review on amazon.
My third book is available on Amazon, Google and iTunes.
Have a great weekend,
Stephan Haller
P.S. Probably no update for the next two weeks.
Legal disclaimer: These are not trade recommendations. Options involve risk and are not suitable for all investors. The trades shown above are for educational purpose only.
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