Aug 2, 2024 Update

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Week MTD YTD Proj. Target
$ -870 -870 -1711 - -
% -15 -15 -26 -44 30
Strategy Expiry Days Open Gain
1 Opened! SPX Call Vertical 2x 08/08

0 / 6

 $324 cr +$5 (1%)
2 Closed. SPX Call Vertical 3x 08/13

2 / 13

 $270 cr +$135 (50%)
3 Opened! SPX Call Vertical 2x 08/13

0 / 11

 $250 cr +$10 (4%)
4 Opened! SPX Call Vertical 2x 08/16

0 / 14

 $200 cr -$10 (5%)
5 Closed. SPX Put Vertical 08/19

13 / 31

 $600 cr -$880 (146%)
6 Closed. SPX Put Vertical 08/30

13 / 42

 $285 cr -$370 (129%)

Hey traders, this was another rough week. On Wednesday stocks went up and my put verticals went close to breakeven but I decided to keep them open, which ended up biting me back because the next two days were significant red days. I did open multiple call verticals which should give me a significant negative delta which should be good based on the current trend of the market. I’m hoping that we get a few red days next week so it stays below my strikes.

As you’ve noticed, I’ve expanded my strategy to include call verticals now. I think I’ll be flipping between call and put verticals as they expire but that means that I’ll have to reduce my quantity of spreads open at once. After this wave I plan to switch to having 3 or 4 open at a time and lowering my deltas even further.

I’ve also been looking into 1122 spreads and the double calendar spread to do. The double calendar seems promising for things like earnings plays since it should be opened in low volatility and closed in high volatility. Once this batch of verticals expires I’ll be reassessing what trading plan I’d like to use.

Take a look at the Strategies page if you're looking for additional information about any of the trading stratgies that I'm using.

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