SPX QQQ IWM XLV MDY I've decided to stay long in our other large
IRA with current inventory.
Yesterday I reduced 13% of our funds in stocks that we had
bought from 3,600s to 4,200s in our other IRA. Took a bit of
digging by date to see what the market close prices were though was
able to figure it out.
I took a net short posture (not aggressive yet, waiting for a
trigger) near the close here in my trading account via my LABD/LABU
pair trade here.
We have vacation coming up for a week August 28th and I will be
all cash in the trading account with no phone for a week and
looking forward to the break!
Posted by DigiNomad on 12th of Aug 2022 at 04:23 pm
My current accounts structure is about like holding a leveraged
2X SPY bear ETF. Got crushed today...on paper. I'm not that worried
because my average breakeven is around 4380. Time to close my eyes
and wait....same thing I had to do when the market was going
parabolic to the downside a few months ago. Back then I was
getting BEAT UP adding long delta (effectively long SPX), but my
breakevens were in the 3450 area with less than a month to
expiration.
Anyway, even a pause at this point will spike the crap out of
my accounts (although a pullback would be welcome as well).
If anyone is following a similar strategy, the KEY is to
start small!! Cannot stress how important size management is.
I target 1% gains per month, every month. To get that selling
premium on the indexes, I'm typically about 90% cash (more, because
selling premium increases cash, but 90% capital available during
normal times). I sell strikes at a little over 1 STD DEV of the
current expected move. Because I maintain so much capital,
when I get challenged, I can either roll up in the same
month/expiration and double....or roll out and up (for more
credit). I prefer the up and double because I don't like to give up
my 1% for the month....but the doubles gets nerve wracking at
times....especially when you're on a 2nd or 3rd
iteration.
Oh...and I try to take profits at 50% of total profit possible.
I don't always do it, but that's part of my standard trading
plan.
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SPX QQQ IWM XLV MDY
Posted by fundamentalvalues on 12th of Aug 2022 at 03:52 pm
SPX QQQ IWM XLV MDY I've decided to stay long in our other large IRA with current inventory.
Yesterday I reduced 13% of our funds in stocks that we had bought from 3,600s to 4,200s in our other IRA. Took a bit of digging by date to see what the market close prices were though was able to figure it out.
I took a net short posture (not aggressive yet, waiting for a trigger) near the close here in my trading account via my LABD/LABU pair trade here.
We have vacation coming up for a week August 28th and I will be all cash in the trading account with no phone for a week and looking forward to the break!
TTITD?
Posted by greggone on 12th of Aug 2022 at 04:46 pm
TTITD?
I still have some longs,
Posted by timebandit on 12th of Aug 2022 at 04:07 pm
I still have some longs, not many, so took a hedge just before the close.
My current accounts structure is
Posted by DigiNomad on 12th of Aug 2022 at 04:23 pm
My current accounts structure is about like holding a leveraged 2X SPY bear ETF. Got crushed today...on paper. I'm not that worried because my average breakeven is around 4380. Time to close my eyes and wait....same thing I had to do when the market was going parabolic to the downside a few months ago. Back then I was getting BEAT UP adding long delta (effectively long SPX), but my breakevens were in the 3450 area with less than a month to expiration.
Anyway, even a pause at this point will spike the crap out of my accounts (although a pullback would be welcome as well).
If anyone is following a similar strategy, the KEY is to start small!! Cannot stress how important size management is. I target 1% gains per month, every month. To get that selling premium on the indexes, I'm typically about 90% cash (more, because selling premium increases cash, but 90% capital available during normal times). I sell strikes at a little over 1 STD DEV of the current expected move. Because I maintain so much capital, when I get challenged, I can either roll up in the same month/expiration and double....or roll out and up (for more credit). I prefer the up and double because I don't like to give up my 1% for the month....but the doubles gets nerve wracking at times....especially when you're on a 2nd or 3rd iteration.
Oh...and I try to take profits at 50% of total profit possible. I don't always do it, but that's part of my standard trading plan.